Environmental Scan
Environmental Scan
MGT/498
March 31, 2014
Environmental Scan
According to Wheelen & Hunger (pg. 98, 2010), “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 features that shape a business help out in establishing the rate of the company 's success and failure. Businesses desire to have the awareness that is necessary to stay afloat with the ever so altering business and the progressing world. In order for a business to be effective in their business, it compels an environmental scan to be done so the business can evaluate their internal and external environment.
Companies Utilizing the Environmental Scan Process
Apple, Inc. and Wal-Mart are two companies that use the environmental scan to assess its business. Apple, Inc. has been effective within the technology industry because of the ground-breaking ideas and the ability to bring those ideas to life, which depicts a solid business strategy. The business approach includes a thorough scan of the internal and external environments that influence the business. Apple has exhibited the capability to acquire the responsiveness of their consumer. The company has the power to gain interest to their products from different age groups; they have the status of drawing a diverse consumer audience. The Apple, Inc. founders Steve Jobs and Steve Wozniak, created Apple in the 1970’s. The company has since taken over the technology business by way of the sleek products they offer such as the iPod, iPhone and iMac, and continue to lead the industry.
Apple is notorious to release products that are unique in nature. Releasing these styles of merchandise is what offers Apple a competitive edge in their business. Specific Apple manufactured items are progressions of products that presently exist, however, with the help of modern day technology they are modified to be
MGT/498
March 31, 2014
Environmental Scan
According to Wheelen & Hunger (pg. 98, 2010), “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 features that shape a business help out in establishing the rate of the company 's success and failure. Businesses desire to have the awareness that is necessary to stay afloat with the ever so altering business and the progressing world. In order for a business to be effective in their business, it compels an environmental scan to be done so the business can evaluate their internal and external environment.
Companies Utilizing the Environmental Scan Process
Apple, Inc. and Wal-Mart are two companies that use the environmental scan to assess its business. Apple, Inc. has been effective within the technology industry because of the ground-breaking ideas and the ability to bring those ideas to life, which depicts a solid business strategy. The business approach includes a thorough scan of the internal and external environments that influence the business. Apple has exhibited the capability to acquire the responsiveness of their consumer. The company has the power to gain interest to their products from different age groups; they have the status of drawing a diverse consumer audience. The Apple, Inc. founders Steve Jobs and Steve Wozniak, created Apple in the 1970’s. The company has since taken over the technology business by way of the sleek products they offer such as the iPod, iPhone and iMac, and continue to lead the industry.
Apple is notorious to release products that are unique in nature. Releasing these styles of merchandise is what offers Apple a competitive edge in their business. Specific Apple manufactured items are progressions of products that presently exist, however, with the help of modern day technology they are modified to be
References: Thompson, A. (2013). Competitive Strategies for Wal-Mart. Retrieved from http://www.ehow.com/list_7456440_competitive-strategies-wal_mart.html Wal-Mart. (2013). Get to Know Wal-Mart. Retrieved from http://corporate.walmart.com/our- story/ Wheelen, T.L., & Hunger, J.D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.