Environmental Scanning PaperMGT/498 Strategic ManagementEnvironmental Scanning Paper Introduction Business environments change over time and not being prepared for a changing environment could be damaging to any organization’s health. Environmental scanning provides leaders within an organization with insight on existing and potential changes that can have a direct effect on the organization’s progress. Environmental scanning is the collection, storing, evaluation, and analysis of valuable information from internal and external environments (Wheelen and Hunger, 2010). This type of research can identify internal and external variables that are beneficial or damaging to the overall success of any business. Effective leaders conduct environmental scanning to be prepared for strategic surprises and to ensure the organization is moving in the direction of success (Wheelen and Hunger, 2010). Environmental scanning protects an organization from losses and prepares leaders with the knowledge to maximize profits. This paper will discuss the environmental scanning of Dunkin Donuts and Starbucks. How Dunkin Donuts and Starbucks create value by sustaining competitive advantages through strategic planning. Lastly, this paper will explain the measurements that each company uses to verify strategic success and the effectiveness of those measurements. Internal and External Environments The most significant internal and external environments of Starbucks and Dunkin Donuts derive from the company culture, customer demand, economic forces, and socio-cultural forces. Internal environments are the structure of the organization, the culture, employees, management, leadership, policies, production, and procedures. The external environments of Dunkin Donuts and Starbucks are the variable such as the community, environment, customer trends, competition, and the economy. Any changes in the internal...
References: Concepts in Strategic Management and Business Policy: Achieving Sustainability, Twelfth Edition, by Thomas L. Wheelen and J. David Hunger, 2010.
Retrieved on September 7, 2014 from: http://news.dunkinbrands.com /Content/ Detail. aspx?ReleaseID=190&NewsAreaID=29&ClientID=3
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