Using Scanning The Horizon Of Possibilities Essay

1163 WordsOct 26, 20165 Pages
Being able to adapt to existing certainties will allow companies to survive and be successful, despite the size of the company. They must be able to recognize and understand outside influences from the industry. GM has been able to recognize the certainties of the market and understand its competitors and challenges because of scanning. The significance of this has allowed GM to adjust the focus and benefit from opportunities in China. Plans are based on forecasts which in turn are based on assumptions about what is to be. Scanning the horizon of possibilities is a prudent measure that companies take in order to identify new developments that will test past assumptions or provide insight on new perspectives to possible future threats or opportunities (Gordon & Glen). A tool that helps recognize the ecological deviations and tendencies is known as scanning. “Through scanning, firms identify early signals of potential changes in the general environment and detect changes that are already underway” (Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015).This is very important to companies because this is how they understand what is happening and how they should adapt to the environment. Scanning can potentially influence companies’ decision-making process and it can also help expose threats, which will help them make the appropriate changes. An inquiry about the industry competitors would be beneficial from scanning because it would bring a very important intelligence.

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