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Define environment scanning....

Define environment scanning.

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Environmental scanning is the process of gathering information about events and their relationships within an organization's internal and external environments. The basic purpose of environmental scanning is to help management determine the future direction of the organization.
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Bhuvan Ltd. Is a garment manufacturing company. The company regularly scans business environment and constantly adapsts itself to the changes in environment. With all these efforts also it become difficult for company to foresee future trends. Competition in the market effects the financial plan of the company, sales targets have to be revised which in turn effect the cash budget. (i) Planning may not work in dynamic environment. (ii) Plans: (a) Strategy (b) Budget