Acknowledgement I take this opportunity to express my profound gratitude and deep regards to our guide, lecturer Mr. C H Liyanage for her exemplary guidance, monitoring and constant encouragement throughout the assignment of this thesis. The blessing, help and guidance given by his time to time shall carry us a long way in the journey of life on which I am about to embark. I am obliged to Institute of Personnel Management, for the valuable information provided by them in their respective fields
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Environmental Scanning MGT 498 April 7, 2014 Environmental Scanning * To become and stay seccussful a company must be aware of their environment. It is essential for successful stretegic planning that the company perform environmental scanning to monitor, evaluate, and disseminate information from their internal and external environments to the right people who make the decisions (Wheelen & Hunger, 2010). Environmental Scanning is the process of gathering information
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organization’s internal and external environments using environmental scanning. • Objective 2.2 - Determine relevant business competitive strategies. Objective 2.1 is easily understood as it relates to environmental scanning, which is the possession and utilization of information about trends within an organizations internal and external environment. Environmental scanning is similar to the SWOT (strengths, weaknesses, opportunities, and threats) analysis, which is the first stage of planning, and helps
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Macroeconomics Environmental Analysis Macroeconomic Environmental Analysis Google Inc. is the largest and best search engine. Google operates in the Internet industry. “The company primarily focuses on the areas, which include search, advertising, operating systems and platforms and enterprise” (Market Watch, 2011, para.1). Larry Page (CEO) oversees Google Inc. a public operating company. Keyword based advertising is how the business creates the majority of the company’s
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The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business
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2008, p. 3). It includes environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The content of this paper will describe the components of a strategic management process and indicate why strategic management is needed in a company, furthermore, a description of how General Electric (GE) uses strategic management process in their company. Components of a Strategic Management Process The first component is environmental scanning, which is basically gathering
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Assignment Question 1 Identify and examine the key social-cultural trends, including demographic and lifestyle developments that have taken place within your chosen country over the past decade. Assignment Answer 1 When starting thinking about Russia in terms “what was changed in past 10 years”, the quick answer would be “a lot if not everything”. And in fact this level of change brings the main social difficulty, people are not able to cope with this rapid change that results in losing
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Define and describe the general environment and the industry environment. The general environment could be considered as the outer layer that is widely dispersed and affects organizations indirectly. The general environment is a group of seven environmental segments (demographic, economic, political/legal, sociocultural, technological, global, and physical) which influence an industry and the firms within it. A firm does not directly control the general environment, but by all means firm’s actions
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discuss the environmental scanning of current conditions in the economy, competition, and political stability, as well as address internal resource analysis. It will discuss the long- and short-term strategic goals, and the location considerations. Environmental Scanning Introduction “The careful monitoring of an organization’s internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans” is called environmental scanning
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Running head: ENVIRONMENTAL SCANNING Environmental Scanning MGT/498 May 1, 2012 University of Phoenix Environmental Scanning Pepsi and Coca-Cola serve as prime examples of major competitors in the beverage industry and strive to be different although each company produces a similar product. With the popularity of these corporations at the zenith of existence, each one needs to develop and maintain a competitive advantage that will yield results to their favor. For the purpose of gaining
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