IRE346H1 Chapter Notes - Chapter 3: Competitive Intelligence, Market Environment, Business Intelligence
15 May 2020
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Document Summary
Environmental scanning: systematic monitoring of the major factors influencing the organization to identify trends that might affect the formulation and implementation of both organizational and hr strategies. Scanning: attempt to identify early signals of changes and trends in the environment. Monitoring: systematic approach to following some key indicators that may affect the organization, such as legislative changes. Forecasting: after monitoring a trend, an attempt to project the possible impact on the organization. Assessing: an attempt to desire the impact of the monitored trend on the organization, and make a judgement of the probability of each of several possible outcomes. Competitive intelligence (business intelligence: formal approach to obtain information about your competitors. Four criteria suggested for identifying significant trends. Change in one aspect impacts another, such as social networking sites affecting both friendships and professional relationships. How profound are the impacts on people"s priorities, roles, and expectations. How large is the impact scope (number of people impacted)
