COMMERCE 2MA3 Chapter 3: Chapter 3 Summary
18 Jan 2012
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Environmental scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. The five environmental forces are social, economic, technological, competitive, and regulatory. Social forces are forces of the environment that include the demographic characteristics of the population and its values. Demographics is the study of the characteristics of human population. These characteristics include population size, growth rate, gender, marital status, ethnicity, income, and so forth. Currently the world population is over 6 billion, but by 2050, it is expected to rise to around 9 billion, and india is expected to take the lead in population with 1. 5 billion, with china at around 1. 3 billion. Also the number of people older than 65 will more than double in the coming decades, while the number of youth will grow at a much lower rate.
