...Environmental Scan Paper Kenneth Anderson MGT / 498 November 10, 2014 Rodney Greene Abstract In business, it is important to gauge internal business with external business. This process will provide an advantage for shaping the future of business. For that reason, the procedure of creating strategies will help by conducting environmental scans. Environmental Scan Designing and building on core values is a required strategy when an organization wants to keep a competitive edge over the competition. There are numerous strategies to pick from in business; a significant strategy is keeping an eye on needed changes and financial trail of record keeping. Furthermore, it is necessary for organizations to keep an outlook on what external sources are doing. It is imperative when acquiring information that defines what other organizations are doing to be conducted in an ethical matter. Committing unethical deception will cause organizational anarchy. The reason long surviving companies like Smart and Final last; is by removing possible dangers so change for the better will be obvious. Ultimately, legacies are built, and the organization’s reputation utilizes power and self-reliance. A thorough global analysis assessment must be completed during an environmental scanning of any organization. This assessment includes businesses, clients, markets, and industries in the same industry. The objective of this paper is to examine the organization and conduct an environmental scan...
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...Environmental Scan Paper MGT/498 January 25, 2016 Environmental Scan Paper A critical part of the strategic planning process is to perform a scan of the internal and external environment. Environmental factors internal to the firm usually can be classified as strengths or weaknesses, and those external to the firm can be classified as opportunities or threats (QuickMBA, 2010). The analysis of the strategic environment is also known as a SWOT analysis. The SWOT analysis will be used for both AT&T and Sprint Company and will evaluate the following topics: internal and external environments; competitive advantage of each company; strategies each company use to create value and gain advantage; and the measurement guidelines each company uses to verify its strategic effectiveness. Strengths & Weaknesses A firm’s strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage (QuickMBA, 2010). AT&T key strengths are top leading market and financial position, dominant brand image, and strong nationwide coverage. Sprint key strengths are technology and innovation, product performance, and customer satisfaction. Weakness occurs in the absence of certain strengths and in certain instances weakness may be the opposite side of strengths. AT&T weaknesses are lack of geographical concentration and lack of content. Sprint’s weaknesses are integrating two companies, lack of branding, and shareholder’s equity. Opportunities & Threats ...
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...Learning Team Weekly Reflection Jennifer Naccarato, Nancy Perez, Anthony Aguirre, Edward Felix MGT/498 May 5, 2015 Dr. Tim Fish Learning Team Weekly Reflection The team discussed the topics covered in the reading material and concluded that it is difficult to forecast and foresee what is significant enough to understand what is applicable information to work with for the success of each of the companies. Seeing as we have each worked in an individual department within the organization, we are unable to predict and foresee when we are not aware of necessary information to understand what direction to go in. We are expecting to learn how to think outside the box and have the capacity to see the big picture. The team knows how strategic management could be advantageous to an organization, and how ethics should be a part of that too. We have seen in our companies on various occasions where people have committed wrong actions and how it could hurt the organization. Those actions can slowly or swiftly take over and destroy an organization. Such unethical behaviors can disrupt the goals of the company to perform efficiently and effectively. After finishing the homework and reading the objectives, the team was comfortable discussing both internal and external environmental scans and how it is not the same as a SWOT analysis. Environmental scanning is composed of observation, reviewing, and finally circulating the data assembled from internal and external environments based...
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...Environmental Scan Paper Tyrone Brown MGT/498 April 8 2013 John Gaze Environmental Scan Paper In today’s paper I intend to take an in depth look into two organizations and conduct an environmental scan on both companies. An internal and external scan on the companies will be used in determining what type of competitive advantages each company has in their perspective market. I also intend to look at the different types of strategies each companies use to meet their goals. I also intend to answer how each company sustain the competitive advantage and create value through business strategies. A brief discussion on the measurement guidelines each company follows in order to verify its strategic effectiveness will follow. Finally I will determine how effective the measurement guidelines that each company is using. Environmental Scan The first company I chose to discuss about their internal and external environmental scans is Starbucks. Many people throughout the world are familiar with Starbucks and the types of products they sell. Since their beginning in 1985 Starbucks has only grown as far as the growth of the company and sells. Starbucks offers premium coffee, tasty pastries, high quality coffee beans that consumers can buy to take home to brew themselves. While conducting my environmental scan I first began to look at the gender of the customers coming in to the establishment to purchase their Latte’s, Espressos’, and Danishes. I myself prefer to go without the coffee...
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...Environmental Scan MGT/498 January 23, 2013 Fernando Bernal Abstract Environmental scanning is an opportunity for a corporation to take a step back and evaluate the internal and external factors of the corporation. The evaluation process includes a SWOT analysis but at an environmental level. Target and EBay have taken environmental scanning to a different level which will be discussed and their stakeholders play a big role in it. Environmental Scan Environmental scanning is information compiled from internal and external environment to key people within the corporation (Wheelen & Hunger, 2010). It is in the best interest of any corporation to conduct an environmental scanning procedure to help them grow. Environmental scanning can help a corporation identify what possible threats can affect them and the entire process can actually pose a threat by affecting the long-range plans and strategic decisions managers must make to keep the corporation from equilibrium with its external environment (Wheelen & Hunger, 2010). Many corporations have gone out of business because they have failed to keep up with the environment. Attari is a corporation that refused to update their product and has filed for bankruptcy recently. Attari was a well known gaming system product and tried making a comeback but with the same system from 20 years ago and failed. That is a prime example of why a corporation will go out of business by not keeping up with the environment...
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...Strategic Management Process Mgt/498 November 10, 2015 UOP Strategic Management Process In this summary I will describe the primary components of the strategic management process, and indicate why a strategic management process is needed for a company. The primary components consist of environmental scanning, strategy formulation, strategy implementation, and strategy evaluation. Lastly, I will talk about my previous job as a Marine and describe the strategic management process that was used. First environmental scanning from my thoughts is the similar to using a swot analysis. As an organization, you want to know where your strength lie so you can maximize it. Same goes for your weakness once it is identified the organization could figure out how to deal with the problem. Environmental scanning also allows the organization to detect early signs of opportunities that could have a great impact on future endeavors. Threats very similar to opportunities are also seen by scanning. Secondly is Strategy formulation, in a nutshell, this is deciding what is the best course of action your organization to take to accomplish its goals and or objectives. So after the environmental scanning this second phase is to put a plan in place to handle what has been uncovered by the scanning. Then the implementation of the strategy that is acting on the strategy that was formulated. According to MSG (2015),”Strategy implementation includes designing the organization's structure, distributing...
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...Environmental Scan Paper Xxx xxxxx MGT 498 September 18, 2013 Professor xxxxxx xxxxx Environmental Scan Paper The vigilant monitoring and firm’s evaluations of internal and external environments to detect signs of early threats and opportunities that influence planning is Environmental scanning (Deresky, 2010). In order to help an organization understanding internal and external factors of the environment that they are requiring for their long-term goals, strategic planning is of the utmost requirement for them. In this paper, I will recognize and explore the situations of internal and external situations used to make these two organizations successful, Coca Cola and Apple. I will also examine the business plans used by the two companies that give them their competitive advantages and how their individual strategies are used to give them sustainability in the market place and increase their market strength through creative and competitive strategic business plans. The measurement guidelines is another avenue explored and how it is used to support the effectiveness for the individual organizations and the effectiveness of the measurement guidelines. This next process is to demonstrate beneficial knowledge for management that wishes to increase long-term efficiencies and develop strategic planning for current and future business endeavors. Dividing the organizations in 2 divisions; 1) The conditions, entities, events, and factors within an organization that influence...
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...Environmental Scan Paper MGT/498 June 18, 2015 Environmental Scan Paper The purpose of an environmental scan is to examine the internal and external environment of a company, in an effort to identify needs, plan improvement tasks and monitor the changes. This process is essential when the company is planning to conduct a reorganization in an effort to improve productivity and reduce costs. If the environmental scan is conducted properly, it will help to align the organization with the desired objectives of the company. On a positive note, the environmental scan can point out competitive advantages and strategies currently in place. The scan is a pretty well-rounded in that it can also assist in the creation of business strategies, which will continue benefit the organization and keep it at a competitive level. The final area that the environmental scan benefits the organization is in the monitor and control region. The process reviews the methods in which the company measures the effectiveness of the strategies in place. Internal and External Environments Completing the environment scan aids in identifying the organization’s in-house needs, assets, and values. The scan will also provide insight into the external environment (the industry) that the company operates within. Ultimately, the scan will help the company form a vision while also identifying their strengths, weaknesses, opportunities, and threats (SWOT) (Barnat, 2014). A SWOT analysis uses internal and external...
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...Environmental Scan Paper Aude Marie Nugent MGT/498 September 15, 2013 John Vincent Environmental Scan Paper What is environmental scanning? According to (Wheelen & Hunger, 2010, pg. 98), “Environmental scanning is the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the corporation.” The external and internal elements that form an organization assist in determining the rate of an organization’s success and failure. Organizations yearn to have the knowledge that is needed in order to stay afloat with the ever so changing market and of course with the evolving world. In order for an organization to be successful in their market, it requires an environmental scanning to be completed so the organization can analyze their internal and external environment. Companies Using an Environmental Scan The two real-world environments that Aude will be using that utilize an environmental scan are Apple, Inc and Wal-Mart. Aude will start with Apple, Inc. Apple, Inc has been very successful with the technology industry due to their innovative ideas and the ability Apple has to their ideas come to life, which displays a very strong business strategy. Apple, Inc’s business strategy involves a very meticulous scan of the internal and external environments that affect the organization. Apple has shown over and over again their ability to get the attention of their consumer, both the younger generation and older...
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...Verizon Wireless & Blizzard Entertainment an Environmental Scan University of Phoenix Strategic Management MGT/498 Jeff Portsche May 26, 2015 Verizon Wireless & Blizzard Entertainment an Environmental Scan Verizon Wireless and Blizzard Entertainment are both companies that provide a service to their customers in a highly competitive field. As such they both must actively engage themselves in the process of environmental scan to ensure the long term health of their companies in their respective markets and future markets. These environments are especially complex with these two companies since there are both external environments and internal environments. It is through the process of environmental scan that these companies can determine what their competitive advantages are in the present as well as in the future. Each company must look to the future and determine what measurement guidelines they will be using to measure their success in the next five to ten years. The effectiveness of their measurement guidelines must be examined as well. In the end, a company is only as good as its ability to examine itself from the inside and out. The external environments of both Verizon Wireless and Blizzard Entertainment are complex. This is due mostly to the fact that both companies are in a highly competitive and ever changing market. In addition to the change, both are in a highly regulated market by the governments they deal with. Verizon Wireless must abide...
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...Strategic Management Process Anthony Yon MGT/498 January 20, 2015 Strategic Management Process The successfulness of an organization longevity is reliant on the decisions and actions that management makes. These decision and actions include internal environmental scanning, external environmental scanning, strategic formulation, strategic implementation, evaluation, and control (University of Phoenix, 2015). These elements are relatable to the strategic management process. An example of Wal-Mart's strategy process will be covered in this reading as well. The strategic management process and why it is necessary for a company will be the covering elements of this paper (University of Phoenix, 2015). Environment Scanning Environmental scanning is a systematic process that interprets and surveys critical information to identify threats and external opportunities. An organization collects data internally, its competitors and the outer world. A company should then take the collection of data and readjust its strategies when the need is suitable. Gathering information about the world in which the business operates, focusing on competitors, and internally scan the organization is the key steps to conducting an environmental scan (Society for Human Resource Management, 2015). Strategy Formulation Strategy is a roadmap to business success and within that strategy, is strategy formulation. Strategy formulation is the process of developing the actual plan. A series of...
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...Environmental Scan MGT/498 Environmental Scan Environmental scans help companies to assess the market they are doing business in, assess the company’s performance and, assess the competition. The first step in the environmental scan process is to conduct a SWOT analysis to determine internal and external strengths, weaknesses, opportunities for growth and trends in the market place. Once the SWOT analysis is complete, it can be reviewed and evaluated to determine areas that the company can create value and sustain competitive advantage through business strategy. In order to sustain the created value and competitive advantage, companies must set measurement guidelines and assess how effective those guidelines are in measuring strategic effectiveness. In order to illustrate how an environmental scan can help a company, we will look at two different organizations. The two companies are Caterpillar Logistics, Inc. and Monumental Life Insurance Company. Caterpillar Logistics, Inc. is in the business of distributing parts for Caterpillar, Inc. machines. Monumental Life Insurance Company is in the business of selling life, health, and disability income insurance to American families. We will look at each company separately. Caterpillar Logistics, Inc. Caterpillar Logistics, Inc. has many strengths including quality parts, dealer networks, parts availability, inventory control systems, and twenty-four hour emergency service. Caterpillar parts are original manufacturer...
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...Running head: ENVIRONMENTAL SCAN Environmental Scan Cristina Amescua University of Phoenix Strategic Management MGT/498 John Kanz November 12, 2012 Environmental Scan The purpose of this paper is to offer an understanding of environmental scanning and its advantages. To describe this information the author provides two companies used as examples to review the internal and external environment effects. The paper will also determine what competitive advantages each company has and what strategies each company is using. Before an organization can begin strategy formulation, it must scan the external environment to identify possible opportunities and threats and its internal environment for strengths and weaknesses. Environmental scanning is the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the corporation. A corporation uses this tool to avoid strategic surprise and to ensure its long-term health. Research has found a positive relationship between environmental scanning and profits (Wheelen & Hunger, 2010). Apple is the first company that serves as an example of a company committed to the protection of the environment. Their total footprint is created by 61% manufacturing, 5% transportation, 30% product use, 2% recycling, and 2% facilities. Apple reports environmental impact comprehensively. They do it by focusing on their products: what happens when they design them, what happens when...
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...Environmental Scan Dwayne A. Haynes MGT/498 August 12, 2013 Michael Medoro Environmental Scan Internal and external environmental scanning helps shape strategic management and planning. Companies use business strategies to create value and secure competitive advantages. Measurements verify the company’s strategic effectiveness. This essay is a brief overview of the internal and external environmental scans, competitive advantage, value, and measurements used at Wells Fargo and Verizon wireless. Most of the supporting data are summaries from the Wells Fargo, and Verizon websites. Wells Fargo is a large financial institution with five strategic priorities: putting customers first, growing revenue, reducing expenses, living the vision and values, and connecting with communities, and stakeholders (Wells Fargo, 1999 - 2013). The Wells Fargo strategy includes cross-selling, (selling additional products), technology, customer-centric (focus on what the customer needs, not what Wells Fargo wants to sell), brand, and opportunities (Wells Fargo, 1999 - 2013). In the cross sell effort, Wells Fargo has detailed data on what products the customers are buying and the number of products per household. According to Wells Fargo (1999 - 2013), “We want all our wealth management, brokerage and retirement customers to bank with Wells Fargo. We want all our banking customers to think of us first for all their wealth management needs” (Our Strategy). The company wants...
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...Strategic Plan University of Phoenix MGT-498 Strategic Management Dr. George R. Monk May 01, 2013 Strategic Plan The purpose of this paper is to explain why it is important for Riordan Manufacturing to have a strategic plan so the company will be successful long term. Also within this paper, Learning Team D will discuss on how important ethical and social responsibility considerations are important in the company strategic management plan. In addition, the team will talk about how Riordan competitive strategies help improve sustainability and innovation domestically and internationally. Furthermore, in the discussion is on how Riordan Manufacturing uses measurement guideline to see how effective their strategies are used. When implementing a business strategy Riordan takes into considerations of cultural and structural leadership. Learning Team D will talk about how Riordan Manufacturing may or may not influence business continuity. The last thing will be discussed by “Team D” is if Riordan Manufacturer receives a feedback it will determine which direction they may want to go, and if they do not follow recommendations at what time is good to alter the plan. The final discussion is to consider as a team on how did we decide or justify the strategic plan based on what we have learned as a team. There are components that has helped us adjust to deciding what plan best fits Riordan Manufacturing so they can be a successful company. Why Should Riordan...
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