ENVIRONMENTAL SCANNING - grade 9.pptx

ENVIRONMENTAL SCANNING TLE - ICT 9  Go back to our discussion yesterday. How do we generate ideas for business? PRELIMINAR Y ACTIVITY After having ideas, how do we narrow down our choices and eventually lead...

ENVIRONMENTAL SCANNING TLE - ICT 9  Go back to our discussion yesterday. How do we generate ideas for business? PRELIMINAR Y ACTIVITY After having ideas, how do we narrow down our choices and eventually lead to choosing the best choice for our business?   Discuss the results of your brainstorming yesterday.  Tell us your first five choices and the reasons why you chose REPORTING them. OF  Narrow down your list to two YESTERDAY’ choices and explain how you S OUTPUT arrived at choosing those two.  Discuss about your final choice of business and the reasons why you picked that to be your business.  ENVIRONMENTAL SCANNING – a process ENVIRONMENTA of gathering, analyzing, L SCANNING and dispensing information for tactical or strategic purposes. The environmental scanning entails obtaining both factual and subjective information on the business environments in which a company is operating. In gathering business idea, you should first identify what type of business is suited to your business idea.  You should analyze and scan the potential environment, study the marketing practices and strategies of your competitors, analyze the Strengths, Weaknesses, Opportunities, and the Threats in your environment to ensure that the products/goods and services you are planning to offer will be patronized within the easy reach by your target markets/consumers.  1. Be realistic about the strengths and weaknesses of your business when SIMPLE conducting SWOT Analysis. RULES FOR SUCCESSFU L SWOT 2. SWOT analysis should ANALYSIS distinguish between where your business is today, and where it could be in the future. 3. SWOT should always be specific. Avoid grey areas. 4. Always apply SWOT in relation to your competition , i.e., better than or worse than your competition. 5. Keep your SWOT short and simple. Avoid complexity and over analysis. 6. SWOT is subjective. People keep on searching for new things, new trends, and new issues. As generations come and go, another set of new trends will come or will exist. In order to adapt to the rapid changes in the business environment, the existing industries need to improve their products and services.  But how can you generate ideas with those strong competitors? There are three main sets of decisions that you need to make:  What to produce  How to produce  How to share or sell out the product to the market  Conduct a SWOT analysis of your chosen business. ACTIVITY Use the format on the next slide.  Business: ___________________ NEGATIVE FACTORS POSITIVE FACTORS Strengths Opportunities Weaknesses Threats