Environmental Scanning and Monitoring

Environmental Scanning and Monitoring

Explanation
 Identification of threats and opportunities in the environment
( external ) and strength and weakness of the firm ( internal ) is
environmental scanning and monitoring
 It play very important role in making of business policy

 There are two types of environmental scanning and monitoring

1. SWOT Analysis
2. PESTEL Analysis
Environmental Scanning and Monitoring
SWOT Analysis
 The goal of SWOT analysis is to match company’s strength to attract
opportunities in the environment, while eliminating the weakness
and minimizing the threat.
 For more information of SWOT analysis check the link below

https://www.youtube.com/watch?v=MRrE41ml30c&t=191s
Environmental Scanning and Monitoring
PESTEL Analysis
 PESTEL analysis is a tool used by marketers to analyze and monitor
the macro environmental factors that have impact on an organization.
 PESTEL stands for political, economical, social, technological, legal
and environmental factors.
 We already discuss macro environment in detail in our previous
video, lets just go through the brief detail of these factors.
Environmental Scanning and Monitoring
Political Factors Technological Factors
- Government Policies - New Inventions and Development
- Political Stability/Instability - Information and Technology
- Taxation Policies - Changes in Mobile Technology
Economical Factors Legal Factors
- Economic Growth - Employment Laws
- Unemployment - Safety Regulations
- Inflation and Interest Rate - Competitive Regulation
Social Factors Environmental Factors
- Demographic changes - Climate changes
- Income Distribution - Environmental Policies
- Lifestyle and Fashion changes - Pressure from NGO’s