The role of global scanning in business planning

Abstract

The globalization of the business environment represents the primary contemporary challenge to business executives. The first step in developing an effective global business is to create global-scanning skills. Careful, ongoing identification and analysis of critical global trends, trends, both macroeconomic and industry-specific, create an informed basis for business decisions. Individual executives can meet this need by internationalizing their own sources of information and business intelligence, but the primary burden of responsibility for incorporating a global perspective into corporate strategy and operations falls on the planning function. Development of effective global-scanning, analysis, and planning capabilities is a critical challenge for all firms.