ENVIRONMENTAL SCANNING: The process of collecting information on various forces in the business environment that can impact the future of the company. These forces are: economic, legal/regulatory, sociocultural, technological, competitive and political. This is usually done as part of a regularly scheduled strategic planning session and is generally a necessary component in a marketing plan. See also | SWOT | marketing plan | business plan | strategic planning | business strategies | economic | legal | regulatory | sociocultural | technology | competition | political |
