Course Work 5 Environmental Scanning

Course Work 5 Student’s Name Institutional Affiliation

Course Work 5

Environmental scanning is the process that requires the members of the company to look into the company both internally and externally, in order to identify the strength, weakness, objectives, and threats of the company. A company cannot thrive without looking into what affects its operations both internally and externally. This is because environmental scanning is what determines the company’s future direction.

Companies seeking success usually place emphasis on environmental scanning. According to Aldehayyat (2015), there is a positive relationship between environmental scanning and organizational performance. Companies that conduct environmental scanning are likely to yield better results compared to others that do not conduct environmental scanning.  An example of a company that emphasized more on environmental scanning is Toyota Motor Company. According to Kim (2013), the Toyota Motor Company had incurred quite a lot of loss due to the single crush that happened in 2010. The crash affected the company until it had to discontinue the sale of some of their high-end vehicles. The company had to recover the loss that had been realized. Toyota Motor Company had to conduct a thorough environmental scanning so as to prevent such an incident from affecting the future ...