Environmental Scan Paper - 1497 Words

Environmental Scan Paper MGT/498 December 10, 2014 Dr. Pamela Linden Environmental Scan Paper Environmental scanning plays a critical role in the strategic management planning process. The environmental scan provides important information, which may be useful in forecasting changes for the future. Environmental scanning is, â€Å"the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the organization.† (Wheelen and Hunger, Ch.4, Sec. 4.1) Managers scan the internal environment for strengths and weaknesses and the external environment for opportunities and threats. Strengths and weaknesses can be found within the company structure, as well as the employee pool.†¦show more content†¦Ã¢â‚¬Å"Last year, Starbucks opened 500 new stores in China, bringing the total to 1500.† (Forbes.com, 2014) Since their beginning 43 years ago, Starbucks has become the most well known coffee house in the United States. Their cups and signature green straws are well recognized by many as sign of a quality product at a premium price. Walmart was founded in 1962 with the opening of its first store in Rogers, Arkansas; with one goal in mind, â€Å"helping customers and communities save money and live better.† (Walmart.com, History, 2014) Internal factors Walmart must focus on for strategic planning include offering a full variety of products ensuring their customers can have a â€Å"one-stop† shopping experience versus needing to visit other stores to complete their lists. When Walmart first opened, the product line offered consisted of clothing, shoes, house hold items, and automotive services, just to name a few. The first Walmart Supercenter opened in Washington, MO in 1988, offering the one-stop shopping experience. â€Å"As the Walmart Supercenter redefined convenience and one-stop shopping, Every Day Low Prices went international.† (Walmart.com, History, 2014) Walmart spent much of the 1990’s decade focused on opening more locations globally, expanding into countries such as Mexico, Canada, and China. This move paid off for Walmart, as they reached its first $100 billion in sales. (Walmart.com, History, 2014) Some external factors Walmart must include in theirShow MoreRelatedEnvironmental Scan Paper1539 Words   |  7 PagesEnvironmental Scan Paper MGT/498 July 22, 2015 Environmental Scan Paper The evaluating, monitoring, and disseminating of information from internal and external environments to key people within the corporation is called environmental scanning. (Wheelen and Hunger. 2010) Environmental scanning helps an organization identify relevant factors and use those factors to obtain a competitive advantage within the environment. The author will discuss how an organization creates value and sustainsRead 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 MoreEnvironmental Scan Paper1148 Words   |  5 Pagesï » ¿ Environmental Scan Paper Shalunda Lester MGT 498 May 2, 2015 Jerome Dausman Environmental Scan Paper Introduction The monitoring, evaluating, and disseminating of information from the external and internal environments is known as environmental scanning. This information goes to key people within the corporation to identify strategic factors and help determine the future of the corporation (Wheelen Hunger). SWOT analysis is the simplest way to conduct environmental scanning. TheRead MoreEnvironmental Scan Paper1138 Words   |  5 PagesEnvironmental Scan Paper MGT/498 Environmental Scan Paper The business environment of an organization reveals much about its competitiveness and the possible influences on the success of its strategies. The focus of this paper will be an environmental scan of the internal and external environments of two real-world firms, their competitive advantages and company strategies for creating value and sustaining competitiveness, measurement guidelinesRead MoreEnvironmental Scan Paper1535 Words   |  7 Pagesï » ¿ Environmental Scan Paper Christine Jennings MGT/498 Jacqueline Limonta November 17, 2014 Environmental Scan The concept of environmental scanning is important because of the short term and long term success of a company. This tool helps companies scan, monitor, evaluate, and forecast the internal and external parts of the company. In order to obtain an accurate assessment of the internal and external variables of a company, the business managers would have to use a SWOT analysis to developRead MoreEthical and Environmental Scan Paper1850 Words   |  8 PagesEthical and Environmental Scan Paper: Enron, Google, Amazon, and Microsoft Ethics and the environmental responsibilities of companies tie directly into those of social responsibilities and occupy a very important position in both incorporating into strategic plans and the company’s value system. In this paper, the subject to describe is how the role of ethics and social responsibility is developed into a company’s strategic plan; this will enclose an example of how Enron initiated an oversteppingRead MoreMgt 498 Week 3 Environmental Scan Paper1112 Words   |  5 PagesEnvironmental Scan Paper Your Name MGT 498 Week 3 Instructor Name Date For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquer theRead MoreMgt 498 Week 3 Environmental Scan Paper1099 Words   |  5 PagesEnvironmental Scan Paper Your Name MGT 498 Week 3 Instructor Name Date For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquerRead MoreMGT/498 Week Three Individual Environmental Scan Paper1199 Words   |  5 Pages Environmental Scan Paper Craig Clark University Of Phoenix MGT/498 March 9, 2013 Environmental Scan Paper The environment of any organization consists of internal and external factors. An organization should conduct a scan of its environment in order for it to determine development, and a forecast on the factors that may influence the success of the organization. Scanning the environment refers to the possession and utilization of the information that an organization hasRead 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 environments