Environmental Scan Paper
Environmental Scan Paper According to BusinessDictionary.com, “an environmental scan is the vigilant monitoring and evaluation of a firm’s external and internal environments for detecting early signs of opportunities and threats that may influence current and future plans” (BusinessDictionary.com, 2011). In strategic planning, an environmental scan can help an organization increase understanding of the internal and external environmental factors that are required to reach the long-term goals of the company. This paper’s purpose is recognizing and exploring the external and internal situations of two successful organizations, Apple and Coca Cola. Also, to examine the competitive advantages and strategies used …show more content…
According to Wheelen and Hunger (2011) “a comprehensive environmental scan includes: Forecasting business trends, conducting internal and external scans, describing the current workforce, and projecting workforce supply and demand” (Wheelen & Hunger, 2011).
The most important factors affecting the environmental scan of an organization are the internal and external environments. Performing an environmental scan on a business brings many benefits and assists in adding to the long-term efficiency of the organization. In this paper, two company’s internal and external situations will be examined using an environmental scan. Also, the competitive advantages and strategies each used by both organizations to stay relevant in the economic market will be explored. The two companies to be discussed are Apple and Coca Cola.
One of the reasons that Apple is such a mighty force in the market is the constant reliability in the development of new, innovative technology, exemplary marketing strategies, and differentiation of new products. High quality and zero defect products consistency diminish the risks felt by consumers. Apple continuously focuses on creating newer, better products which differentiates them from their competition. Two new currently launched products are