Environmental Scanning Refers to

question 142

Multiple Choice

Environmental scanning refers to

• A) assessing any possible negative impact a firm's activities might have on the local ecology.
• B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
• C) setting up a regular schedule to assess the performance of different divisions within a firm.
• D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment.
• E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.

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Definitions:

Journal Entry

A record in accounting that documents a business transaction in the general ledger.

Government Regulation

Government regulation refers to the laws and rules established by governmental bodies that impose restrictions, requirements, or obligations on the operations of businesses and individuals.

Corporate Form of Organization

A legal structure utilized by businesses that allows them to be recognized as separate legal entities from their owners, providing benefits like limited liability.

Income Tax

A tax levied by governments on the income earned by individuals and businesses.