...monitoring, evaluation, and dissemination of information relevant to the organizational development of a strategy (Wheelen, Hunger, & Hoffman, Bamford, 2015,). The use of an environmental scan can analyze the competitive advantage of a company, evaluate the strategies a company uses to gain an advantage over their competitors and create value and examine the measurement guidelines and the effectiveness of those guidelines to authenticate strategic effectiveness. Researchers have found a definite connection between profits and environmental scanning. Internal and External Environments Because a company has little to no control over external issues, it is important to monitor continuously for changes so that corrections can be made promptly. PEST is an acronym for political, economic, social, technological problems that may affect an external environment, and companies use this tool for external environmental scanning. The political factor looks at how legal issues and government regulations impact a company’s ability to gain profits and success. Walmart and Dollar General both will have to contend with tax guidelines, trade regulations, employment laws, environmental and social policies, and safety regulations. Both companies should consider federal and local power structures, and strategize for how a shift in power could impact their business. The economic factor scans outside economic issues that influence the business’s success. Topics to consider are inflation, interest rates...
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...Paper MGT/498 November 26, 2013 Environmental Scan Environmental scanning is an essential element in monitoring and analyzing trends that can affect an organization. A tool used as a part of environmental scanning is the SWOT analysis which pinpoints the Strengths, Weaknesses, Opportunities and Threats of an organization. This paper will present a SWOT analysis of three companies from three different industries, Starbucks Coffee, southwest Airlines and Wendy’s Old Fashion Hamburgers. In addition to the SWOT analysis there will be information regarding the company’s competitive advantage, strategies used, how value is created by each company along with the measurements guidelines used to verify strategic measurements SWOT Analysis: Starbucks Coffee, Southwest Airlines & Wendy’s Starbucks Coffee, Southwest Airlines, and Wendy’s operate in three different industries, something each company has in common is utilizing as a tool the internal and external environments based on the SWOT analysis. Starbucks Coffee began as a single store in Seattle; now, the number one coffee chain in the world located in over 62 countries with 18,000 stores. In order for Starbucks to have its current success and continued success a SWOT analysis breaks down the favorable and unfavorable factors to determine the appropriate strategy to stay on top in the premiere coffee industry. The Strengths of Starbucks Coffee to name a few are the experience the customers have with...
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...Guidelines for SWOT Analysis Pick any company –team The purpose of this project is to provide you with an opportunity to demonstrate and apply your knowledge and skills in analyzing an organization’s external and internal environments as well as its mission, goals and strategy. The following guidelines specify some critical issues you need to address in identifying the organization’s strengths, weaknesses, opportunities and threats (SWOT) and relating the SWOT of the organization to its mission, goals and strategy. Please read the guidelines carefully before starting your work. Part I: Identification of Organizational Mission & Goals 1) What is the business scope of the organization? Be sure to provide both consumer and product definitions of the organization’s business. 2) What is the vision of the organization? 3) What are the unique values and philosophies of the organization? 4) What are the strategic goals pursued by the organization? Part II: Analysis of External Environment 1) What opportunities and threats do you see or foresee from the general external environment of the organization? 2) What influence does each of Porter’s five forces have on the industry environment of the organization? If the organization operates in more than one industry or market, choose and focus on one in your analysis. 3) Which of the five forces represent opportunities for the organization? Which of them present threats to the organization...
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...A h Tools esearc to R Guide SWOT Analysis Eva Chen Paul Bruneski SWOT Analysis Strengths, Weaknesses, Opportunities, Threats History of SWOT In the 1960’s and 70’s, Albert Humphrey is said to have developed this strategic planning tool using data from the top companies in America at the time. A SWOT Analysis looks at the strengths, weaknesses, opportunities and threats that are relevant to an organization in a new venture. A SWOT Analysis is a tool which allows users to look at the direction a company or organization may wish to move towards in the future. A SWOT Analysis is a useful tool, which in conjunction with others can help make informed decisions. Table of Contents History of SWOT Definition of SWOT 1 1 Internal and 2 External Factors Guides for using SWOT 2 Potential Uses of 3 SWOT Strengths & Weaknesses of the method 3 Example: SWOT 4 of British Airway Definition of SWOT By specifying clear objectives and identifying internal and external factors that are either helpful or not, a short and simple SWOT analysis is a useful resource which may be incorporated into an organizations strategic planning model. Strengths- Internal attributes that are helpful to the organization to achieving its objective Weaknesses – Internal attributes that are harmful to the organization to achieving its objective Opportunities – External factors that help the organization achieve its objective Threats - External factors that are harmful to the organization...
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...more classes visit www.indigohelp.com Consider a local business whose services you frequently use. What are the main components of this company's business model? Write a 400- to 500-word response in which you do the following: Describe the three components of the business system that comprises the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference. Identify the form of business organization that the business currently uses: joint-stock company, limited liability, partnership, or sole proprietorship. Explain the differences between your business's form of organization and the other three forms. Resources: Ch. 1 & 2 of Introduction to Business Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. ................................................................................... BUS 211 Week 2 Individual Assignment Profits and Supply and Demand For more classes visit www.indigohelp.com Resource: Ch. 1 of Introduction to Business Consider a fictional business you would be interested in starting. You will be using this same business in other weekly assignments throughout the course. You are seeking financing for your business, and a potential investor has asked you to provide more information. Write a 400- to 500-word response to your potential investor in which you do the following: Describe the products or services your business will offer and the resources--materials...
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...Assessment Task 1 Outcome 1 Introduction Alphabet Games small company based in Scotland which develops software and games. The business was formed in 2001 by three companions with a passion to develop games and software which has resulted in it becoming a multi-million pound business. The aim of this case study is to identify four forces which may affect Alphabet Games using a recognised analytical framework. A SWOT analysis is to be carried out in order to analyse and illustrate the relationship Alphabet Games has with the external environment. A set of guidelines for carrying out a SWOT analysis is to be prepared to enable the senior managers at Alphabet games to carry out an effective SWOT analysis. Task A The four forces that can affect Alphabet Games is the analytical framework PEST this takes in any political, economy, social and technological factors. • Political The political factors that will affect Alphabet Games are the legislation and guidelines that have been set out by the government that must be followed in order to avoid any legal action taking place. They also need to consider globalisation and the differentials of each market they trade in as they currently sell games and software worldwide. They must also abide by any European Union rules and legislation when trading worldwide it has a higher level of control over the United Kingdom. The taxation policy is also important to Alphabet Games due to the changing tax rates which may affect the...
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...marketplace. Companies use a SWOT Analysis to establish the performance of the markets environment. The company will analyze consumer and competitor’s behaviors, trends, strengths and weaknesses in the market. Performing an environmental scanning and SWOT Analysis is vital to an organization’s success. SWOT Analysis A) give a detailed assessment of the opportunities, trends, and consumer existing in their market environment. B) Establishes an awareness of their markets environment so that their company can increase the strategic planning and decision-making process. (U.S. Department of Health and Human Services, n.d.). C) Establish the internal resources needed to achieve their organizational goals and objectives. D) Establish the vision and strengths to identify the companies’ strengths, weaknesses, opportunities, and threats. (CPS Human Resource Services, 2007). To show the importance of environmental scanning and the competitive advantages that could arrive from using this assessment tool, this paper will conduct an environmental scan on Nike Inc., and A.O. Smith Water Products Company. The environmental scans of these corporations will a) examine how Nike Inc. and A.O Water Products Company create value and sustain their competitive advantage through business strategy. B) Analyze the measurement guidelines that both companies use to verify their strategic effectiveness. C) Examine the effectiveness of both companies measurements guidelines. In addition to the previous...
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...environmental scanning, which is basically gathering information from external and internal environments to key people within the corporation. Its purpose is to identify strategic factors that will establish the future of a corporation. An easy way of predicting the future of a corporation is through a SWOT Analysis. SWOT is used to describe the strengths, weaknesses, opportunities, and threats for a specific company. The external environment consists of opportunities and threats (Wheelen & Hunger, 2008, p. 11). These variables happen outside the organization, which management has no control over. For instance, one company does not have the right to prevent another company of marketing the same product or service. Company A must strive to become better than other competitors. On the other hand, the internal environment consists of strengths and weaknesses—these variables measure the structure, cultures, and resources within an organization. It also can be used to gain a competitive advantage. Strategy Formulation Strategy formulation is the second element. It measures a company’s long-term plans that focus on the mission, objectives, strategies, and policy guidelines. A mission statement defines the unique purpose that sets...
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...Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals Dietrich Burton HCS/589 April 25, 2016 Kelly Imlay Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals In today’s paper we will discuss part II of our Strategic Plan for Sonexus Health A Cardinal Health Specialty Company. In this segment we will evaluate the significance and implications of an external environmental analysis in the development of a strategic plan. Next we will use the SWOT analysis and provide an assessment of Sonexus Health Care organization. In this section we will review how this organization will accomplish their mission, goals, and objectives for strategic planning. We will also evaluate how the organization will respond to internal and external challenges. And finally, we will incorporate our SWOT analysis findings into clearly stated goals and objectives for a 3 to 5 year period by focusing on the strategic plan areas. The purpose of an environmental scanning is to implement your findings into a strategic plan for our organization. This includes growing trends, the consumers that are being served and provide opportunities for improvement. “Definitions of the term abound, but in essence it refers to the means by which organizations gather information on changing conditions and incorporate those observations into a process where necessary changes are made. The right information, combined with the right adaptations, can determine an organization's...
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...To what extent do you think that SWOT analysis are translated to reality and made real? Many managers and academics criticize or don’t even recognize the SWOT Analysis as a serious tool. According to many, it is a ‘low-grade’ analysis. Here below are the main flaws identified: * Excessive lists of strengths, weaknesses, opportunities and threats; * No prioritization of factors; * Factors are described too broadly; * Factors are often opinions not facts; * No recognized method to distinguish between strengths and weaknesses, opportunities and threats. Therefore the following guidelines in my opinion are very important in order to be able to do a successful SWOT analysis. These guidelines eliminate most of the above-mentioned SWOT limitations and improve its results significantly: * Factors have to be identified relative to the competitors as this allows you to specify whether the factor is a strength or a weakness. * List between 3 – 5 factors for each category. This prevents creating too short or endless lists. * Factors must be clearly defined and made as specific as possible. * For example, firm’s strength is: strong brand image brand image valued at $10 billion, which is the most valued brand in the market (very good). * Rely on facts not opinions by finding external research analysis information and/or involve people who could provide an unbiased opinion. * Factors should be action orientated...
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... Date: Student Mentor Name: Table of Contents Organization Overview 3 Organization Description 3 Leadership Practices 3 Relationship Between Leadership and Organizational Culture 3 SWOT Analysis 4 Organizational Strengths 4 Organizational Weaknesses 4 Organizational Opportunities 5 Organizational Threats 5 Leadership Evaluation 5 Leadership Strengths 6 Leadership Weaknesses 6 Recommendations for Leadership Development 6 References 7 Organization Overview In this opening paragraph, provide the reader with an overview of what is included in this section. Include a brief introduction of the organization and leader you selected to analyze. Share with the reader why you selected the organization and leader and what you hope to learn. Organization Description Describe the organization you will be analyzing. Provide an overview of the organization, a brief history or the organization, and include the objectives of the organization. If you are analyzing a sub-set within an organization, you still want to begin with an overview of the larger organization prior to describing the team, department, division, etc. This section should not exceed 1 page. Include citations when appropriate following APA guidelines. Leadership Practices When completing this section, it is important to demonstrate that you can apply what you have learned in this course specific to providing an informed description of the leadership...
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...assist in the creation of business strategies, which will continue benefit the organization and keep it at a competitive level. The final area that the environmental scan benefits the organization is in the monitor and control region. The process reviews the methods in which the company measures the effectiveness of the strategies in place. Internal and External Environments Completing the environment scan aids in identifying the organization’s in-house needs, assets, and values. The scan will also provide insight into the external environment (the industry) that the company operates within. Ultimately, the scan will help the company form a vision while also identifying their strengths, weaknesses, opportunities, and threats (SWOT) (Barnat, 2014). A SWOT analysis uses internal and external factors to create a plan for the company. The scan will need to include several factors to be considered a comprehensive environmental scan. The scan will include reviewing internal and external environments, a forecast of business trends, a description of the current workforce in place, and a future projection of workforce supply and demand (Barnat, 2014). Company 1: L.A. Times Based...
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...examples and application on organization to better illustrate your answer and argument. It is essential you conduct literature review correctly applying the right referencing system. It is also essential to produce this work individually and not engage in any act of plagiarism. Students who are involved in plagiarism will score a zero. What is meant by SWOT analysis? Describe the elements of SWOT analysis. Is SWOT analysis qualitative or Quantitative? Could it be conducted both quantitatively and qualitatively? What are the limits to its effectiveness? Write a report answering the above mentioned questions and conducting a literature review on the following topic clarifying the meaning, the nature, the advantages and disadvantages of SWOT analysis. You could review and site certain organizations have applied SWOT analysis in their strategic decision approaches and examine the application of this methodology on the organization internally and externally. Apparently there is some kind of literature about the SWOT analysis, you need to review it or you can send it to me and I’ll review and abstract the guidelines and key answers. Anyway, now to answer the above question is quite easy as it’s purely theoretic and real life an example is preferable rather than essential. If it’s a repot it must has some kind of standard format (most probably...
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...Abstract In this paper I will cover the various elements, policies and procedures to taking a business online. Inside this paper I will conduct a SWOT analysis, show how I plan to overcome any cultural barrier that may be presented and how I maintain compliance with our stringent federal trade laws. Exposing My Small Business to the World The possibilities for expanding and increasing your business in today’s times are endless. The World Wide Web allows us small business owners opportunities that we have never had before with these increased opportunities, there are also increased problems. I will outline how I took my business online and combatted these underlying issues. Identify the advantages and disadvantages of taking your small business online by performing a SWOT analysis. Include 2-4 items in each category. The New Jersey shore boardwalk is a tourist haven. A small business owner can make a considerable profit if they have a product that the consumers want at a price they love. My clothing store NEW Images opened last year. In this failing economy it was often discouraging to sit in the store for days at a time with only a few sales and many “window shoppers”. I decided quickly that if I want to survive I must take this business online. The thought of exposing my business to millions of new customers was euphoric. I could literally taste the profits. I put my plan into effect by first taking note of the advantages. The first advantage was the cost...
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...Environmental Scan Paper MGT/498 January 25, 2016 Environmental Scan Paper A critical part of the strategic planning process is to perform a scan of the internal and external environment. Environmental factors internal to the firm usually can be classified as strengths or weaknesses, and those external to the firm can be classified as opportunities or threats (QuickMBA, 2010). The analysis of the strategic environment is also known as a SWOT analysis. The SWOT analysis will be used for both AT&T and Sprint Company and will evaluate the following topics: internal and external environments; competitive advantage of each company; strategies each company use to create value and gain advantage; and the measurement guidelines each company uses to verify its strategic effectiveness. Strengths & Weaknesses A firm’s strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage (QuickMBA, 2010). AT&T key strengths are top leading market and financial position, dominant brand image, and strong nationwide coverage. Sprint key strengths are technology and innovation, product performance, and customer satisfaction. Weakness occurs in the absence of certain strengths and in certain instances weakness may be the opposite side of strengths. AT&T weaknesses are lack of geographical concentration and lack of content. Sprint’s weaknesses are integrating two companies, lack of branding, and shareholder’s equity. Opportunities & Threats ...
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