Environmental Scan Paper
The environmental scan in strategic planning helps an organization determine both internal and external factors that might affect their long-term goals. According to BusinessDictionary.com (2015), “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”. In this paper I will explore the external and internal environments of two organizations, Apple and Coca Cola, while also determining the competitive advantages and strategies used. I will discuss how this helps them prepare creative strategic plans. Once the strategic plan is emplaced, they must measure to determine the effectiveness of the plan.
Internal and External Environments
One of the reasons this process is beneficial is the knowledge management gains. This knowledge helps increase the long-term efficiency while also developing strategic plans for the business. According to The Business Dictionary (2015), internal environment is “The conditions, entities, events, and factors within an organization that influence its …show more content…
According to Wheelen and Hunger (2011), “The external scan can help to determine the environmental issues that the organization is operating in.” Through proper environmental scanning, it will help management with their Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) analysis for strategic planning. 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.” The environmental scan of your organization offers many benefits. It helps determine factors that are crucial to the long-term productivity of your
The environmental scan in strategic planning helps an organization determine both internal and external factors that might affect their long-term goals. According to BusinessDictionary.com (2015), “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”. In this paper I will explore the external and internal environments of two organizations, Apple and Coca Cola, while also determining the competitive advantages and strategies used. I will discuss how this helps them prepare creative strategic plans. Once the strategic plan is emplaced, they must measure to determine the effectiveness of the plan.
Internal and External Environments
One of the reasons this process is beneficial is the knowledge management gains. This knowledge helps increase the long-term efficiency while also developing strategic plans for the business. According to The Business Dictionary (2015), internal environment is “The conditions, entities, events, and factors within an organization that influence its …show more content…
According to Wheelen and Hunger (2011), “The external scan can help to determine the environmental issues that the organization is operating in.” Through proper environmental scanning, it will help management with their Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) analysis for strategic planning. 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.” The environmental scan of your organization offers many benefits. It helps determine factors that are crucial to the long-term productivity of your