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Ent 1 Obj 2.03
Environmental Scan
| Term | Definition |
|---|---|
| Brand Competition | Competition between two similar products |
| Business Cycles | Periods of expansion and contraction in economic activites |
| Carbon Footprint | A meausre of the impact of human activity on the environment |
| Competition | The rivarly between two or more businesses to attract scarce customer dollars |
| Culture | The customs, habits, and traditions of a particular group of people |
| Demographics | The physical and socail charcteristics of the population |
| Dynamic | Changing; changeable (able to be changed) |
| Economy | The system in which people make and spend their incomes |
| Environment | Surroundings |
| Environmental Scanning | Collecting information about the environment surrounding your business |
| Exchange Rate | The price or value at which one currency can be converted to another |
| External Environment | A business's external, uncontrollable surroundings; consists of elements such as demographics, society and culture, the economy, competition, government, and technology |
| Financial Planner | A professional who specializes in helping peopl with personal financial matters |
| Fiscal Policy | The government policy that sets levels of government spending and taxation |
| General Competition | Competition among all businesses for scarce customer dollars |
| Inflation | A rise in prices that may occur when demand exceeds supply or when productivity declines and costs of labor go up |
| Information | Knowlede, facts, or data |
| Information Overload | Communication that is too much and/or comes too fast to process at one time |
| Internal Environment | A business's internal, controllable surroundings; consists of elements such as finances,personnel, research and development, production, and marketing |
| Interrelated | Having an effect on or depending upon one another |
| Investor Confidence | The attitudes of investors toward risk |
| Market Research | The systematic gathering, recording, and analyzing of data about a specific issue, situation,or concern that affects a market |
| Marketing Campaign | A business's organized efforts to promote a certain product or line of products |
| Monetary Policy | The government policy that determines the amount of money that will be in circulation and the level of interest rates |
| Opportunity | A favorable situation in the environment aurrounding your business |
| Political Climate | Government environment |
| Political Stability | The degree to which a government is free from turmoil |
| Prosperity | A state of economic growth |
| Recession | A state of economic decline |
| Recovery | A period of time in which an economy grows from recession to prosperity |
| Social and Cultural Attitudes | The belief and feelings of people in a society that cause them to act in certain ways |
| Society | A group of individuals who share an environment |
| Strategic Planning | Ling-range planning (three to five years) for the company as a whole |
| Strength | Any resource or capability your business has that can help you gain a competitive advantage in your industry |
| Subsidy | Government financial help given to a business |
| Substitute Products | Goods and/or services that can be used in place of others; items that satisfy the same needs/wants |
| Tactics | Specific actions that will be used to carry out strategies |
| Threat | Any unfavorable situation in the environment surrounding your business |
| Unemployment Rate | The percentage of the labor pool that is currently seeking but unable to find work |
| Brand Competition | Competition between two similar products |
| Business Cycles | Periods of expansion and contraction in economic activites |
| Carbon Footprint | A meausre of the impact of human activity on the environment |
| Competition | The rivarly between two or more businesses to attract scarce customer dollars |
| Culture | The customs, habits, and traditions of a particular group of people |
| Demographics | The physical and socail charcteristics of the population |
| Dynamic | Changing; changeable (able to be changed) |
| Economy | The system in which people make and spend their incomes |
| Environment | Surroundings |
| Environmental Scanning | Collecting information about the environment surrounding your business |
| Exchange Rate | The price or value at which one currency can be converted to another |
| External Environment | A business's external, uncontrollable surroundings; consists of elements such as demographics, society and culture, the economy, competition, government, and technology |
| Financial Planner | A professional who specializes in helping peopl with personal financial matters |
| Fiscal Policy | The government policy that sets levels of government spending and taxation |
| General Competition | Competition among all businesses for scarce customer dollars |
| Inflation | A rise in prices that may occur when demand exceeds supply or when productivity declines and costs of labor go up |
| Information | Knowlede, facts, or data |
| Information Overload | Communication that is too much and/or comes too fast to process at one time |
| Internal Environment | A business's internal, controllable surroundings; consists of elements such as finances,personnel, research and development, production, and marketing |
| Interrelated | Having an effect on or depending upon one another |
| Investor Confidence | The attitudes of investors toward risk |
| Market Research | The systematic gathering, recording, and analyzing of data about a specific issue, situation,or concern that affects a market |
| Marketing Campaign | A business's organized efforts to promote a certain product or line of products |
| Monetary Policy | The government policy that determines the amount of money that will be in circulation and the level of interest rates |
| Opportunity | A favorable situation in the environment aurrounding your business |
| Political Climate | Government environment |
| Political Stability | The degree to which a government is free from turmoil |
| Prosperity | A state of economic growth |
| Recession | A state of economic decline |
| Recovery | A period of time in which an economy grows from recession to prosperity |
| Social and Cultural Attitudes | The belief and feelings of people in a society that cause them to act in certain ways |
| Society | A group of individuals who share an environment |
| Strategic Planning | Ling-range planning (three to five years) for the company as a whole |
| Strength | Any resource or capability your business has that can help you gain a competitive advantage in your industry |
| Subsidy | Government financial help given to a business |
| Substitute Products | Goods and/or services that can be used in place of others; items that satisfy the same needs/wants |
| Tactics | Specific actions that will be used to carry out strategies |
| Threat | Any unfavorable situation in the environment surrounding your business |
| Unemployment Rate | The percentage of the labor pool that is currently seeking but unable to find work |
| Zoning Regulations | Laws governing the use of land |
Created by:
rubi.r152
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