Asked by Frisca Kim Lun on Jun 10, 2024
Verified
Refer to Scenario: Green Septic and Water Systems Inc.Green Septic and Water Systems Inc.monitors demographic and labour market trends as well as technological and IT changes.Which of the following is it most likely performing?
A) a competitive environment scan
B) an environment scan
C) a strategic plan
D) a labour market scan
Environmental Scan
The process of collecting information about the external and internal environments to identify opportunities and threats.
Competitive Environment Scan
The process of analyzing the market in which a business operates to understand the competition and identify opportunities and threats.
Strategic Plan
A systematic process of envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.
- Recognize the key elements in strategic planning and environmental scanning.
Verified Answer
LW
little winstonJun 12, 2024
Final Answer :
B
Explanation :
Green Septic and Water Systems Inc. is performing an environment scan, which involves monitoring various external factors such as demographic and labour market trends, as well as technological and IT changes. This information is used to inform the company's strategic planning process. A competitive environment scan would specifically focus on the company's competitors and their strategies. A labour market scan would only focus on labour market trends and not other external factors. A strategic plan is the outcome of the planning process, which is informed by the environment scan.
Learning Objectives
- Recognize the key elements in strategic planning and environmental scanning.