External and Internal Environmental Analysis
Name
STR-581
Date
Instructor
External and Internal Environmental Analysis “VIZIO, Inc. was founded in 2002 by William Wang with the idea that everyone deserves to own the latest technology”, VIZIO started out providing consulting services for Gateway computers with three employees, today there are over 160 employees, do to outsourcing a majority of the work. VIZIO is “still hard at work taking entertainment freedom by storm”, through adding computers, tablets, and Apps (VIZIO, 2012 para.1). There are various external issues that can persuade VIZIO to make the high-quality decisions in order to select a course of action, which will have an effect on the company’s internal structure. The external environment factors are influenced by one another they are: remote, industry, and operating environment. In a competition situation, these unified features summarize the core of the prospects and threats that VIZIO confronts. In order to track marketing prospects, VIZIO inc. should in addition be conscious of its own internal assets, qualifications, and skills. A method commonly applied by administrators or supervisors is the SWOT analysis denotes the internal Strengths and Weaknesses of an individual business and the environmental opportunities and threats a business confronts. This advance assists managers to consider VIZIO’s internal capabilities, while making use of the findings to enhance the strategic alternatives.
Internal Environment VIZIO has various advantages compared to their competition in comprehending and meeting the wants and desires of their customers. VIZIO’s numerous features of their products that continue to increase the values of their products and services, while continuing to build the companies internal strengths. • Cost advantage • Effective communication