International Journal of Modern Social Sciences, 2013, 2(1): 34-43 International Journal of Modern Social Sciences ISSN: 2169-9917 Florida, USA Journal homepage: www.ModernScientificPress.com/Journals/IJMSS.aspx Article Environment & PEST Analysis: An Approach to External Business Environment Abhishek Gupta Administrative-cum-Accounts Officer & Head of Office, Sardar Swaran Singh National Institute of Renewable Energy (Ministry of New & Renewable Energy, Govt. of India), Wadala Kalan,
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The primary components of strategic management are: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Environmental scanning is the process of collecting, analyzing, and providing information for strategic purposes. It allows the company to assess its current situation in the market. This is accomplished through a SWOT (strengths, weaknesses, opportunities, and threats) analysis. The SWOT analysis describes the company’s particular strengths, weaknesses
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International Journal of Modern Social Sciences, 2013, 2(1): 34-43 International Journal of Modern Social Sciences ISSN: 2169-9917 Florida, USA Journal homepage: www.ModernScientificPress.com/Journals/IJMSS.aspx Article Environment & PEST Analysis: An Approach to External Business Environment Abhishek Gupta Administrative-cum-Accounts Officer & Head of Office, Sardar Swaran Singh National Institute of Renewable Energy (Ministry of New & Renewable Energy, Govt. of India), Wadala Kalan,
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The primary four components of strategic management process are environmental scanning or analysis, strategy formulation, strategy formulation, strategy implementation, and evaluation and control. According to Wheelen and Hunger (2010), “Strategic management is a set of managerial decisions and actions that determines the long-run performance of a corporation” (p. 5). The first component of environmental scanning or analysis which simply put is looking at the organization as a whole and identifying
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explained by citing various examples. Precisely the book deals with the following. • A strategic decision-making model based on the underlying process of environmental scanning, strategy formation, strategy implementation and evaluation and control. • Michael Porter’s approach to industry analysis and competitive strategy • Functional analysis and functional strategies. R & D and R & D strategies which emphasize the importance of technology to strategy and product-market decisions. • Executive leadership
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business environment it exists and where it is going. Strategic Management Strategic management involves a series of management decision, plans, and actions that involve the long run performance of the organization. These actions include environmental scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation, and evaluation and control. The study of strategic management, therefore, emphasizes the monitoring, and evaluating of external
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that may determine a company’s long-term performance. This will require a business to conduct internal and external scanning and environmental analysis, strategic implementation is required, evaluation, and control. Strategic management encompasses the use of the SWOT analysis, (Strengths, Weaknesses, Opportunities, and Threats), to incorporate strategic planning and industry analysis (Wheelen & Hunger, 2010). Primary Components of Strategic Management In a normative or prescriptive approach
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Environmental Scan 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
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June 27, 2013 Environmental Scan Southwest is committed to continuing to lead the in emissions reductions through fuel efficient operations are the hallmark of their Company and the foundation of their environment commitment. “The planet sustains us all, so we feel it’s our responsibility to protect it. This focus on efficiency not only makes good business sense, it is the right thing to do.” (Environmental Initiatives, 2012). Reducing the Environmental Impact Southwest is committed to continuing
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management are Environmental Scanning, Strategy Formulation, Strategy Implementation and Strategy Evaluation. These steps are in Chronological order and are used in these order when creating a new strategic plan. Environmental Scanning is when the information is collecting, analyzing and providing data for the strategic plan. The analyzing of the data helps the factor, internal and external in influencing the organization which the plan is going to be for. Once the environmental analysis is process
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