The Effect of Environmental Scanning on Business Adaptability: A Case Study of Real Estate Firms in Yobe State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
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- Recommended for :
- NGN 5000
Background of the Study
Environmental scanning refers to the systematic analysis of external and internal factors that affect an organization’s operations. In dynamic industries such as real estate, businesses must adapt to changing economic, political, and social conditions to remain competitive (Musa & Adamu, 2023).
In Yobe State, the real estate sector has experienced significant growth, driven by increasing demand for housing and commercial properties. However, firms face challenges such as regulatory changes, economic fluctuations, and environmental risks. Environmental scanning helps firms anticipate changes and make informed decisions to adapt effectively (Yusuf & Hassan, 2024).
This study investigates the effect of environmental scanning on business adaptability among real estate firms in Yobe State.
Statement of the Problem
Real estate firms in Yobe State operate in a volatile environment where external factors such as government policies, market trends, and environmental hazards significantly impact their operations. Many firms lack robust environmental scanning practices, leading to poor adaptability and reduced competitiveness.
Research by Bello and Ibrahim (2023) indicates that businesses with effective environmental scanning frameworks are better equipped to respond to external changes. However, there is limited research on how environmental scanning influences business adaptability in the real estate sector in Yobe State. This study addresses this gap by exploring the relationship between environmental scanning and adaptability.
Objectives of the Study
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To evaluate the impact of environmental scanning on business adaptability in real estate firms in Yobe State.
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To identify the key external factors influencing adaptability in the real estate sector.
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To recommend strategies for enhancing environmental scanning practices among real estate firms.
Research Questions
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How does environmental scanning affect business adaptability in real estate firms in Yobe State?
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What are the key external factors influencing real estate firms’ adaptability?
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What strategies can improve environmental scanning practices in the real estate sector?
Research Hypotheses
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Environmental scanning significantly enhances business adaptability.
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Limited awareness of external factors negatively impacts adaptability.
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Training and tools for environmental analysis improve adaptability among real estate firms.
Scope and Limitations of the Study
The study focuses on real estate firms in Yobe State, examining the relationship between environmental scanning and adaptability. It excludes other industries and regions. Limitations include variability in scanning practices and differences in the external factors affecting individual firms.
Definitions of Terms
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Environmental Scanning: The process of analyzing external and internal factors that influence an organization.
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Business Adaptability: The ability of a business to adjust to changes in its operating environment.
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Real Estate Firms: Companies involved in the development, buying, selling, and leasing of properties.
