Environmental Scan Paper
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. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. These factors are important because before an organization can begin strategy formulation, it must scan the internal environment for strengths and weaknesses and their external environment to identify possible opportunities and threats (Wheelen & Hunger). In this paper I will describe the internal and external environments of Apple and Best Buy using an environmental scan. I will also determine what their competitive advantages and strategies are.
Apple’s Internal and External Environments
Strengths
Apple is a very successful company and has many strengths. It is a geographically diverse business with a strong research and development team. Apple has an innovative culture and strong workforce. Apple has bargaining power with retailers and outstanding customer loyalty. Apple has a strong brand and reputation. Apple also makes a lot of money and don’t have any debt.
Weaknesses
Even though Apple is a very successful company they still have some weakness. Apple products are expensive and some products lack customization. Because Apple products are so great, which makes them premium products they can be expensive for many consumers. Some Apple products are considers a distraction electronic device. Accidents such as auto-mobile crashes have been caused by people using electronic devices.
Opportunities
Apple has some great opportunities such as off-the-shelf military procurement. To reduce
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. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. These factors are important because before an organization can begin strategy formulation, it must scan the internal environment for strengths and weaknesses and their external environment to identify possible opportunities and threats (Wheelen & Hunger). In this paper I will describe the internal and external environments of Apple and Best Buy using an environmental scan. I will also determine what their competitive advantages and strategies are.
Apple’s Internal and External Environments
Strengths
Apple is a very successful company and has many strengths. It is a geographically diverse business with a strong research and development team. Apple has an innovative culture and strong workforce. Apple has bargaining power with retailers and outstanding customer loyalty. Apple has a strong brand and reputation. Apple also makes a lot of money and don’t have any debt.
Weaknesses
Even though Apple is a very successful company they still have some weakness. Apple products are expensive and some products lack customization. Because Apple products are so great, which makes them premium products they can be expensive for many consumers. Some Apple products are considers a distraction electronic device. Accidents such as auto-mobile crashes have been caused by people using electronic devices.
Opportunities
Apple has some great opportunities such as off-the-shelf military procurement. To reduce
References: Wheelen, T., & Hunger, J. (2010). Concepts in Strategic Management and Business Policy: Achieving Sustainability (12th ed.). The Basics of Strategic Planning and Strategic Management retrieved from: http://balancedscorecard.org/Resources/Strategic-Planning-Basics Strategic Management - Meaning and Important Concepts retrieved from: http://www.managementstudyguide.com/strategic-management.htm Apple SWOT analysis 2013 | Strategic Management Insight retrieved from: www.global-strategy.net/apples-profitable-but-risky-strategy/ 3 Strategies to Adopt From Apple | Inc.com retrieved from: www.inc.com/karl-and-bill/3-strategies-to-adopt-from-apple.html Best Buy SWOT analysis 2013 | Strategic Management Insight retrieved from: www.global-strategy.net/apples-profitable-but-risky-strategy/