Surplus causes disequilibrium in the supply and demand of a product. This imbalance means that the product cannot flow through the market efficiently. However, the cycle of surplus and shortage has a way of balancing itself out.
Environmental scanning is the term used to describe the acquisition and use of information gleaned from sources external to your company. Scanning can be thought of as a form of early-warning radar that lets managers look into the future.
Phase 1 â Business, Technology, People. Business, technology and people are the first âlensesâ through which I conduct an environmental scan. Today organizations are paying a lot of attention to technology but with a lack in understanding the two remaining components of the equation.