week 3 Individual Assignment Environmen
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, which will define their competitive advantages and operating strategies. Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation (Wheelen & Hunger, 2010, pg. 16). Let’s begin by a comparing Smart and Final’s values versus Costco values. Smart and Final has developed the First Street brand.
The First Street brand expectations are to be equal or better than the competition. Costco has
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, which will define their competitive advantages and operating strategies. Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation (Wheelen & Hunger, 2010, pg. 16). Let’s begin by a comparing Smart and Final’s values versus Costco values. Smart and Final has developed the First Street brand.
The First Street brand expectations are to be equal or better than the competition. Costco has
References: Wheelen, T. L., & Hunger, J.D. (2010). Concepts in Strategic Management and Business Policy 12e Entire eBook (12th ed.). Retrieved from The University of Phoenix eBook Collection database. Smart and Final History. (2014). Retrieved from http://www.smartandfinal.com/AboutUs/History.aspx Costco. (2014). Retrieved from http://www.costco.com/ Costco Mission Statement. (2014). Retrieved from http://retailindustry.about.com/od/retailbestpractices/ig/Company-Mission- Statements/Costco-Stores-Mission-Statement.htm