Final answer:
The key initial step for managers to understand their changing environment is Environmental Scanning, which allows for the identification of trends, threats, and opportunities for strategic planning.
Step-by-step explanation:
The first and most important step managers use to make sense of their changing environment is Environmental Scanning. This process involves the systematic collection and analysis of information about external factors that could impact the business.
Through environmental scanning, managers can identify emerging trends, threats, and opportunities in the market, allowing them to make informed decisions and formulate strategies that align with their organizational objectives.
Environmental scanning is fundamental in adapting to the dynamic business landscape and ensuring the company remains competitive and responsive to changes.
The first and most important step managers use to make sense of their changing environment is Environmental Scanning.
Environmental scanning refers to the process of gathering, analyzing, and interpreting information about the external factors that can impact an organization's operations, such as market trends, technological advancements, regulatory changes, and competitive actions.
By conducting environmental scanning, managers can stay informed about the changes happening in the business environment and make informed decisions based on the insights gained.