Environmental Scanning Complements Competitive Intelligence

Down Today - Up Tomorrow!

Down Today - Up Tomorrow!

Environmental factors influence managers. Some with quick decisions, some as a result of responding to these variables and some with careful studying of these environmental factors. A good manager will include environmental scanning as a part of his/her decision making process. The man in the photo is looking at the downward arrow in his chart to re-consider his plan of action. Environmental scanning is required. This will allow the company to collect information on other competitors in order to cut costs for example.

Environmental scanning is one tool to provide the company ways to study and analyze the market. Competitive intelligence provides financial solutions that cut un warranted spending.

Competitive intelligence allows financial forecasting. Competitive intelligence uses benchmarking and environmental scanning as factors to help adjust production and sales. Cost descriptors can be isolated through effective environmental scanning.

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