Question

Mintribes, a silver jewelry shop that specializes in tribal jewelry, wants to move its store to a location near tourist attractions. To decide on the location, Mintribes's store manager went to some tourist spots to analyze buyer behavior, learn about the productsof the existing jewelry shops in those areas, and study the spending pattern of tourists and locals in those areas. Which of the following concepts does this scenario best illustrate?
A. Environmental scanning
B. Media advocacy
C. Transfer pricing
D. Punctuated equilibrium

Answer 1

Answer:

A. Environmental scanning

Explanation:

Environmental scanning: The term environmental scanning is defined as a process that involves information gathering related to particular events and their existing relationships within a specific organization's external or internal environmental surrounding. Environmental scanning serves its basis focus on helping the management in determining the future-oriented directions of a particular organization.

In the question above, the given scenario best illustrates the environmental scanning.