Environmental Scanning Paper - 1500 Words

Environmental Scanning Kendra McQueen MGT/498 March 14, 2016 Amy Novoa Environmental Scanning Environmental scanning is an overarching term encompassing the monitoring, evaluation, and dissemination of information relevant to the organizational development of a strategy (Wheelen, Hunger, amp; Hoffman, Bamford, 2015,). The use of an environmental scan can analyze the competitive advantage of a company, evaluate the strategies a company uses to gain an advantage over their competitors and create value and examine the measurement guidelines and the effectiveness of those guidelines to authenticate strategic effectiveness. Researchers have found a definite connection between profits and environmental scanning. Internal and External†¦show more content†¦Due to the size of the company and vast selection of products, suppliers offer huge discounts. Walmart has ventured into the global market with the purchase of ASDA, the United Kingdom-based retailer. Weaknesses: Controlling an organization as large as Walmart is a massive undertaking. The quality of customer services has suffered. Consumers are displeased by rumors of unfair labor practices alleged by Walmart employees. Supply and demand have also been a problem for the retailer because due to cost disputes with suppliers. The quality of goods has also been questioned by consumers. Walmart has failed to create a strong presence in other countries. Opportunities: Walmart can venture into other countries and form a global relationship with other companies. The retailer could learn from other companies and offer home delivery for their internet sales. Walmart could also venture into the convenience store market to save consumers money. Threats: Threats that Walmart face includes the resistance of smaller local vendors that dislike the large retailer coming into their town and taking the business. Competition from similar businesses is also likely. Consumer trust is a threat to Walmart, and the company has been accused of overworking and underpaying employees, unsafe environmental practices, overworking and underpaying employees, and purchasing cheap products fromShow MoreRelatedEnvironmental Scanning Paper1834 Words   |  8 PagesAbstract Environmental scanning is the first portion to an organization’s strategic management and is very important to the corporation. Environmental scanning is gathering information for the external and the internal of the company. A SWOTT is the best way to gather the information. A SWOTT is determining the strengths, the weaknesses, the opportunities, the threats, and the trends of the organization. Starbucks is a coffee shop that sets out to be different from the competitors. The company doesRead MoreEnvironmental Scan1153 Words   |  5 PagesMGT 498 Environmental Scan Paper MGT/498 Environmental Scan Paper Environmental scans play a crucial role in the strategic planning process by helping organizations take a look at their competitive advantages and identify ways to sustain the advantages. Wheelen and Hunger (2010) describes environmental scanning as â€Å"the monitoring, evaluation, and dissemination of information from external and internal environmentsRead MoreEnviromental Scanning1269 Words   |  6 PagesEnvironmental scanning MGT/498 October 29, 2012 John Fritch Environmental scanning Coco-Cola and Pepsi are two major competitors in the beverage industry but each company is working on being different even though each company has similar products. Both companies are very popular and each company needs to develop and maintain a competitive edge that will help one or the other stay above the other. 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Environmental scanning is getting-together data for the external and the internal of the company.Read MoreEnvironmental Scan Paper1272 Words   |  6 PagesEnvironmental Scan Paper There are internal and external elements that help a corporation determine their future. Environmental scanning monitors, evaluates, and disseminates the information from both the internal and external environments within the corporation. The internal and external elements are strategic factors that determine the corporation’s future. Environmental scanning can be conducted through a simple SWOT analysisRead MoreThe Impact Of Macroeconomic Variables On The Telecommunication Industry1635 Words   |  7 PagesIntroduction The intent of this paper is to perform an analysis of the cable industrys external environment. The first sections of the document will discuss environmental scanning and define the telecommunication niche that is currently occupied by cable operators such as Comcast. The next section will identify the macroeconomic variables that currently impact cable operators and will compare two variables to two corresponding industry variables. The final section of the paper will identify some of theRead MoreThe Impact of Macroeconomic Variables on the Telecommunication Industry1704 Words   |  7 PagesIntroduction The intent of this paper is to perform an analysis of the cable industrys external environment. The first sections of the document will discuss environmental scanning and define the telecommunication niche that is currently occupied by cable operators such as Comcast. The next section will identify the macroeconomic variables that currently impact cable operators and will compare two variables to two corresponding industry variables. The final section of the paper will identify some of theRead MoreEnvironmental Scan1557 Words   |  7 PagesEnvironment Scan The week three assignment for Strategic Management MGT 498 involves researching the environmental scanning practices of two to three real-world companies’ internal and external environments and describe their internal and external environments. This assignment provides a brief overview on the competitive advantages of each identified company and what strategies these companies use. Included in the assignment is information on how each company creates value and sustains their competitiveRead MoreEnvironmental Scan1350 Words   |  6 PagesEnvironmental Scan of Home Depot Crystal Graham MGT498 March 18, 2013 Rob Inglis Environmental Scan of Home Depot Strategic planning is necessary for every successful company and needs to be managed accordingly. Environmental scanning is the first phase in strategic planning management. Environmental changes, whether external or internal can pose major problems for a company. A scan of environmental factors provides a better understanding of current trends and what causes things to change