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.
Each of post of this series comes with an audio podcast in which you will find the audio version of the post with additional audio commentary about the discussed topics. The name of the podcast is âFIR On Strategy with Andrea Vascellariâ. The environmental scan is another fundamental analysis that you want to conduct to track the environment you are operating in when you are planning to launch a new project.