Identify and Explain the Three-Step Process That Managers Use to Make

question 55

Essay

Identify and explain the three-step process that managers use to make sense of changes in their external environments. Explain how environmental scanning contributes to organizational performance.

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Definitions:

Industrialization

The development of industries in a country or region on a wide scale, leading to significant changes in society and the economy.

Population Growth

The increase in the number of individuals in a population, typically measured as a percentage of the existing population.

Gentrification

The process of middle-class people moving into rundown areas of the inner city and restoring them.

Gentrification

The process of renovating and improving a house or district so that it conforms to middle-class taste, often leading to the displacement of lower-income families and small businesses.