'Describe why it is important to examine the environmental sectors (The Economic sector, The Political sector; The Technological sector; The Social sector; The Market sector; The Geographic sector; The Supplier sector; The Distributor sector).'
Environmental scanning entails surveying data and interpreting that data to identify external opportunities and threats. By gathering this information, an organization is better equipped to strategize and implement effective plans to promote the company's well-being. Several factors need to be examined, which are the economy, government, demographics, competitors and even an internal scan. When conducting an environmental scan, the organization should be careful to include a team that has the ability to imagine things that have not yet happened; explore relevant concepts through fluent communications; and, are able to effectively network to find out what is happening among the competition. Environmental scanning also includes choosing creditable sources of information such as the Wall Street Journal or Management Review, publications that deliver current information about the environmental sectors. Additionally, trends in human resource development and how ...
The solution discusses environmental scanning in human resource development.