Decision-Making Through Business Environmental Scanning

A detailed Summary of Decision-Making Through Business Environmental Scanning


As a relatively new research agency in the market research industry, our firm has two main objectives for this year. The first objective is to increase profitability through increased number and/or higher research costs. The second objective, meanwhile, is to increase the firm's "visibility" in the market research industry, and be recognized as one of the major players in it. In order to achieve these objectives, our firm looked into the business environment of the market research industry, assessing its strengths, weaknesses, threats, and opportunities. The following are the considerations the firm has discussed and taken into consideration in evaluating its performance for the year, using these decisions as the basis for next year's business plan.

Currently, the market research environ


Our firm's weakness is that it is still a new player in the industry, thus, its credibility is still being questioned because of clients' lack of familiarity with it. However, since the firm employs individuals who used to work for the major research agencies, it is able to invite a significant degree of respect and consideration by its (existing and potential) clients. The firms strengths, meanwhile, is its very efficient data processing software, wherein data processing is completed in less than 12 hours, and this is applicable for researches with a large base (more or less a thousand respondents for quantitative studies). Apart from fast data processing, the firm has an efficient team, coordinating and helping each other, enabling researchers to accomplish their projects on or earlier th

Some common words found in the essay are:
, market research, data processing, market research industry, research industry, research agencies, efficient data processing, market research agencies, agencies firms, efficient data, easier faster,

Approximate Word count = 537
Approximate Pages = 2 (250 words per page double spaced)

Category: Miscellaneous

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