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Horizon Scanning Workbook

Horizon Scanning Workbook

Author/Source: Dr. Catherine Maguire - University of Strathclyde

Format: PDF Document

Cost: FREE


Description

Scanning the external business environment or horizon scanning, is the process of searching for information outside the business and using it to support better decision making. Although it may seem to be a trivial task, knowing what is happening in the wider business environment will highlight any opportunities that could give you competitive advantage, or make you aware of potential threats that pose a risk to your current operations. Information gathered from the near (competitors, customers, suppliers) and far environments (technologies, social trends, economic situations) and contextualised to your own business situation gives a more stable basis for strategic planning – after all, “knowledge is power”!

The process outlined in this guide is an input to the Visual Strategy tool, specifically the external analysis section.


Horizon Scanning Workbook

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