Define environmental scanning. Explain different methods of environmental scanning.

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 Techniques/Methods of Environmental Scanning

Environmental scanning is a technique for detailed study of the environment. It is done to assess the trend of the environment and prepare the organization accordingly. There are different techniques/methods of environmental scanning. They are discussed below.



1. Executive opinion method: It is also called the executive judgment method. Under this environment is forecasted on the basis of opinion and views of top executives. A panel is formed consisting of these executives.

2. Expert opinion method: Under this environment forecasting is based on opinion of outside experts or specialist. The experts have better knowledge about market conditions and customer taste and preferences. This method is similar to executive opinion method. However, it uses external experts.

3. Delphi method: This method expert opinion method. It involves forming a panel of experts and questioning each member of the panel about the environmental trend. Later, the responses are summarized and returned to the members for assessment. This process continues till the acceptable consensus is achieved.

4. Extrapolating method: Under this method, the past information is used to predict the future. Different methods used to extrapolate the future are time series, trend analysis and regression analysis.

5. Historical analogy: It is a judgmental forecasting technique. Under this, the environmental trends are analyzed with the help of another trend which are parallel to the historical trend. For example, sales history similar product. 

6. Intuitive reasoning: Under this, rational and unbiased intuition is for environmental scanning. Environmental dynamics are guessed individual judgment. The reliability of this method is questionable.

7. Scenario building: Scenario possible future pictures of possible future They are built on the basis of time ordered sequence of events that have logical cause and effect relationship with each other. Scenarios are buil to address future contingencies.

8. Cross-impact matrix: Under this, environmental forecasts through various methods are combined to form an integrated and consistent description of future. The cross - impact matrix is used to assess the internal consistency of the forecasts.

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