This website uses cookies to ensure you have the best experience. Learn more

Environmental Scan Essay

1249 words - 5 pages

In today’s global market place strategic management planning is more important than ever. Developing a strategic management plan is vital to the future of the organization. First and foremost the strategic plan lays down a solid foundation for growth, defining company goals, direction the company is going in the future, and how it is going to get there. A strategic management plan is just like it sounds, it manages the steps along the path leading into the future making sure company goals are meet and if not what changes need to be made in order to stay on course.
Developing a strategic management plan can be difficult. Implementing an environmental scan will help identify both internal ...view middle of the document...

Wal-Mart and Target essentially sell the same kind of products in their stores but have a completely different way about marketing to the public.
Wal-Mart’s strategic plan is aimed at expanding their presence physically by moving into regions they are not currently located in. Their growth is not limited to the U.S. as they have been trying to gain a presence in other countries for years. Wal-Mart’s tactics are to move into a new area and takeover the local competition in every department of the products sold. Once they have succeeded in putting the competition out of business Wal-Mart will begin to diversify and expand into new areas of retail. Wal-Mart has a very direct connection or impact on its competition. Both internal and external factors have a direct impact on Wal-Mart’s market position.
Implementing an environmental scan by using the SWOT analysis technique is a very useful tool in identifying internal and external strengths and weaknesses. When taking an internal look into Wal-Mart it is obvious to see they have strengths and weaknesses. Wal-Mart has many strengths but its brand power is one of the main ones, not too many people in the United States haven’t heard of this retail giant. It is also very possible that if someone is looking for a retail outlet Wal-Mart is their first choice, just out of sheer convenience. Surprisingly they have an extremely high customer loyalty rating. Wal-Mart might not have an employee on every isle trying to help you find something but they will always have what you are looking for. Rigorously checking the quantity of their goods is another internal strength, backed up by an inventory system that is second only to the United States Pentagon inventory system.
Wal-Mart’s inventory system is what makes them the giant they are, allowing them to streamline operations and gain a competitive advantage. They can monitor changes in market trends and customer demands at every location they have worldwide. This inventory system monitors and records how items in the store are performing and puts out alerts when to order from their suppliers in order to capitalize on priority and profitability.
One weakness Wal-Mart has to deal with is it size, they are the world’s biggest grocery retailer and in some ways makes them weak and a target. Wal-Mart sells everything from beauty products to tires for you SUV which does not allow them the elasticity some of their competitors may have in cornering a niche market. Wal-Mart main weakness is their size which makes them a target for workers rights groups to create problems. They do not get involved with any union employment which some see as a problem and may show unfair worker treatment. ...

Other Papers Like Environmental Scan

Environmental Scan Paper

1114 words - 5 pages 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

Mgt/498 Environmental Scan Essay

785 words - 4 pages Environmental Scan Student Name MGT/498 Month Day, Year Teacher Name Environmental Scanning Long time competitors (PepsiCo and Coca-Cola) have been in the beverage business leading the industry, starting in North America and expanding worldwide. These two companies have managed to rise to the top of the industry and stay there which begs the question, how are they are able to maintain their competitive advantage through business

Environmental Scan Mgt 498

1107 words - 5 pages Environmental Scan: AAMCO Transmissions, Inc. Thomas Scotti MGT / 498 January 27, 2014 Dr. Chris Mendoza Environmental Scan: AAMCO Transmissions, Inc. Aamco Transmissions, Inc. (ATI) is a national company that has a majority of its store open and operating through a franchise network of individual owners and operators. Currently the franchise chain has approximately 750 open and operating stores, with about 5% (37) of those being company

Environmental Scan Paper

1889 words - 8 pages Environmental Scan Paper MGT 498 Environmental Scan All businesses regardless of their particular industry will be faced with the challenges of dealing with different environments. A couple of companies that will be discussed throughout this paper are Apple, Inc. (Apple) and Dell, Inc. (Dell). Both are successful technological companies. Operating in the technology field they pay a great deal of attention to technological factors and

Riordan Virtual Organization and Environmental Scan Paper

1964 words - 8 pages Environmental Scan Barbara Hicks MGT/498 October 26, 2015 Environmental Scan The perception of environmental scanning is important to the short term and long-term success of a business. The environmental scan continued use by present and future businesses to scan, examine, calculate, and project the internal and external elements of their marketplace. Companies use a SWOT Analysis to establish the performance of the markets

Environmental Essay

633 words - 3 pages Environmental Scan Essay 4/20/2013 Environmental scanning can be viewed as a way of acquiring information about outside events that can aid organizations in first identifying potential trends, then interpreting them (Kerin, Hartley, & Rudelius, 2010). These trends normally consist of five sources, social, economic, technological, competitive, and regulatory forces. My intention in this essay is to focus on one; the economic

Environment Scan Paper

999 words - 4 pages Environment Scan Paper Audrey Williams University of Phoenix Strategic Management 498 Belinda Roberson April 16, 2014 Environment Scan Paper The concept of environmental scanning is very important for the short term and long-term success of any business. This assessment tool can be used and have been used for the future of business to help scan, monitor, evaluate, and tell their forecasts for their internal and external elements for

Swot Analysis

577 words - 3 pages SWOT Analysis A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Such an analysis of the strategic environment is referred to as a SWOT analysis. The SWOT analysis provides information that is

Vzw and Blizz

1188 words - 5 pages 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

Strategic Plan Ii

1583 words - 7 pages observations into a process where necessary changes are made. The right information, combined with the right adaptations, can determine an organization's future viability.” (Dalton, 2011) Sonexus Health must move with the times as well as provide a high level of service to their clients as well as their patients. To implement this plan organization is everything, there are several components during the environmental scan. First, we should start

Eco 550 Assignment 2

1522 words - 7 pages cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is “high enough” so that the firm's total costs exceed its total revenue. The marginal cost of the last unit is $30. This assignment allows you to determine the specific details about this fictitious company in order to conduct an environmental scan of this company. Write a three to four (3-4) page paper in which you: 1. Briefly describe the details

Related Essays

Environmental Scan Essay

1139 words - 5 pages Environmental Scan MGT/498 Environmental Advantage One of the fundamental requirements for a company to succeed is to understand both the internal and external environments. The companies must understand these environments and apply the knowledge to a strategy that will give the company a competitive advantage. The competitive advantage must be measured to fully understand how the strategy is being implemented and to what extent the

Environmental Scan Essay

1098 words - 5 pages Environmental Scan The internal and external environments of Levi Strauss and Apple computer describes how each company changed company focus by structuring the position of demographics to gain access to marketing trends and dealings with government regulations. Each company has proven capabilities for the organization’s success and taken responsible infrastructure for employee benefits and rights. Each company has considered goals that aid in

Environmental Scan Paper

1364 words - 6 pages 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

Environmental Scan Paper 1183 Words

1183 words - 5 pages Environmental Scan Paper Gloria Pryor MGT 498 / Strategic Management February 2, 2011 Demetrius Holt Environmental Scan Paper The purpose of this paper is to explain and define the internal and external environments of different companies. In workforce planning, environmental scanning helps the companies develop the understanding of the internal and external environment needed to determine whether the business needs of the companies are