The need for environmental scanning acquires great policy significance for both the micro-unit and the macro-economy in a developing country like India which is trying to achieve the objectives of economic development and distributional justice simultaneously through national planning. This paper attempts to provide a framework for scanning the external environment of a large industrial enterprise in the private sector in India to help the company in the long term planning of its activities. The impact of international conditions, technological conditions, national economic conditions, social conditions, demographic conditions, political conditions and governmental regulatory conditions impinging upon the existing activities of the company is analysd. Special study is made of the opportunities and constraints imposed by the national priorities set up by the planning authorities of a developing country such as India in her five year plans. The impact of national economic policies in shaping the future of a large enterprise is brought into focus. The likely influence of such policies on the economic development of the nation is briefly discussed.