The ability to scan, acquire, and learn from your business environment is an important management competency. Please respond True or False to the following statements to assess your competency in this area.

I read articles from the business press and surf the web to stay up-to-date on current events.(T/F)

I understand how the development and usage of technology influence the external environment. (T/F)

I track economic data to assess the global business environment. (T/F)

I can identify sociocultural trends that influence the competitive environment. (T/F)

I comprehend how demographic data can be used to make business decisions. (T/F)

I realize that companies operate in a global environment, and because of this pay attention to events that happen in different parts of the world. (T/F)

When analyzing a firm, I identify its competitors and their impact on the firm's environment. (T/F)

I understand the critical role that customers and suppliers play in shaping a firm's operations. (T/F)

I understand the different ownership structures of a firm and the governance role of a firm's board of directors. (T/F)

I realize that a company's employees and its culture are important components to its success. (T/F)

If you answered True to the majority of these statements, you are aware of your business environment.

What can you do to become more aware?