Environmental Scanning Is the Process of Collecting External Data,analyzing It,and

question 145

True/False

Environmental scanning is the process of collecting external data,analyzing it,and determining whether the trends identified are opportunities or threats to the company.

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Definitions:

Financial Health

A measure of the financial stability and well-being of an entity, often evaluated through metrics like liquidity, solvency, and profitability.

Item Procurement Importance Quadrant

A strategic framework used to categorize procurement items based on their importance and impact on the company's business operations and strategies.

Low Risk

Situations or decisions that are associated with minimal potential for loss, damage, or negative outcomes.

Low Value

A term used to describe items or transactions that are of minimal worth or importance, either economically or functionally.