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Lesson 4 Environmental Scanning

This document discusses the importance of environmental scanning for entrepreneurs. Environmental scanning involves gathering and analyzing information about the business environment, including technological, political, economic, and social trends. It helps identify customer needs and wants, opportunities for new businesses, and threats from changes in the environment. The document advises entrepreneurs to stay aware of advances in technology and changes in customer preferences to ensure their business ideas remain relevant. It also stresses the importance of considering how the local community may respond to potential products or services when developing a business idea.

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DanicaAnnStaRosa
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374 views

Lesson 4 Environmental Scanning

This document discusses the importance of environmental scanning for entrepreneurs. Environmental scanning involves gathering and analyzing information about the business environment, including technological, political, economic, and social trends. It helps identify customer needs and wants, opportunities for new businesses, and threats from changes in the environment. The document advises entrepreneurs to stay aware of advances in technology and changes in customer preferences to ensure their business ideas remain relevant. It also stresses the importance of considering how the local community may respond to potential products or services when developing a business idea.

Uploaded by

DanicaAnnStaRosa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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LESSON 4:

ENVIRONMENTAL
SCANNING
ICT 9
 Thereis a need to conduct environmental
scanning to identity the needs and wants of
people, the niche for your business mission,
and to give attention to trends and issues.
This may also serve as an evaluation of the
type of the entrepreneurial activity
appropriate in the community
 Environmental scanning is defined as a process
of gathering, analyzing, and dispensing
information for tactical or strategic purposes.
The environmental scanning process entails
obtaining both factual and subjective
information on the business environments in
which a company is operating.
 Environment in the community can be viewed
according to its technological, political,
economic, and social aspects. For example, in
the past, people in the community used
personal computers but the transmission of
development in terms of technology was
interrupted because people were not satisfied
with what they have today. They still look for
the changes in their life and the corresponding
in their environment.
 As a future entrepreneur, you must be well-
versed in this kind of advancement and
progression of your environment particularly in
technology so as to secure the success of your
future business. Always think of something new,
something novel, authentic, reinvent the existing
ones, and create your new version of
goods/products, and services. For instance, your
own hair straightening is herbal, while in the
other salons it is made of synthetic chemicals.
This kind of changes being made will effect the
existing principles in business and industries that
can be easily adapted to the changes in
producing the products/services to meet the
needs and wants of people in the community.
 In generating business idea, you should first
identify what type of business is suited
products/goods and services you are planning
to offer will be patronized within the easy
reach by your target markets/consumers.
Bear in mind these simple rules for
successful SWOT analysis.
 Be realistic about the strengths and weaknesses of your
business when conducting SWOT analysis.
 SWOT analysis should distinguish between where your
business is today, and where it could be in the future.
 SWOT should always be specific. Avoid any grey areas.
 Always apply SWOT in relation to your competition i.e.
better than or worse than your competition.
 Keep your SWOT short and simple. Avoid complexity and
over analysis
 SWOT is subjective.
PERFORMANCE TASK #1

Direction: Think of any business idea you want


to venture in and any product you want to sell.
Remember to consider the ideas and suggestions
discussed in Lesson 3. On the table below list all
the STRENGTHS, WEAKNESS, OPPORTUNITIES
AND THREATS you may encounter on your
business.
POSITIVE FACTORS NEGATIVE FACTORS
STRENGTHS WEAKNESS OPPORTUNITIES THREATS

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