Environmental Scan Paper - 1535 Words

Environmental Scan Paper Christine Jennings MGT/498 Jacqueline Limonta November 17, 2014 Environmental Scan The concept of environmental scanning is important because of the short term and long term success of a company. This tool helps companies scan, monitor, evaluate, and forecast the internal and external parts of the company. In order to obtain an accurate assessment of the internal and external variables of a company, the business managers would have to use a SWOT analysis to develop awareness to different of the company. For example, the company could want to measure consumer behavorior, competitor behavior, and current trends in their marketplace. Environmental Scan and SWOT Analysis The information discovered from†¦show more content†¦After conducting an environmental scan on Nike, this research has discovered that Nike has placed their organization in the best position to sustain their reputation as the world’s leader of athletic shoes and apparel. Nike Incorporated has limited competition because no athletic shoe company can sustain the level of innovation and excellence that Nike has done over the years. A.O. Smith Water Products Company A.O. Smith Water Products Company is one of the world’s leading manufacturers of residential and commercial water heating equipment and technology. Because of the company’s engineering excellence and customer service, A.O. Smith has been able to expand the business operations into more than 60 foreign territories by increasing the development of their water heating equipment by way of innovative technology and acquiring different domestic, global partnerships, and acquisitions. To establish and sustain the success they have already achieved, the business leaders at A.O. Smith implemented a vision that would allow their organization â€Å"to be the global leader in applying innovative technology and energy efficient solutions that provide comfort and convenience to life† (A.O. Smith, 2008). A.O. Smith’s company vision has allowed the organization to net annual sales of $1.49 Billion (2010) and $1.71 Billion (2011) with earnings of $57.3 million and $111.2Show MoreRelatedEnvironmental Scan Paper1539 Words   |  7 PagesEnvironmental Scan Paper MGT/498 July 22, 2015 Environmental Scan Paper The evaluating, monitoring, and disseminating of information from internal and external environments to key people within the corporation is called environmental scanning. (Wheelen and Hunger. 2010) Environmental scanning helps an organization identify relevant factors and use those factors to obtain a competitive advantage within the environment. The author will discuss how an organization creates value and sustainsRead MoreEnvironmental Scan Paper1272 Words   |  6 PagesEnvironmental Scan Paper There are internal and external elements that help a corporation determine their future. 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