Surplus causes disequilibrium in the supply and demand of a product. This imbalance means that the product cannot flow through the market efficiently. However, the cycle of surplus and shortage has a way of balancing itself out.
Environmental scanning is the term used to describe the acquisition and use of information gleaned from sources external to your company. Scanning can be thought of as a form of early-warning radar that lets managers look into the future.
In todayâs cast/post we will understand what it is, why itâs important and I will also give you a specific methodology that can help you conduct your environmental scan more efficiently when dealing with online/digital initiatives.