Sunday, December 22, 2019

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. Environmental scanning monitors, evaluates, and disseminates the information from both the internal and external environments within the corporation. The internal and external elements are strategic factors that determine the corporation’s future. Environmental scanning can be conducted through a simple SWOT analysisRead MoreEnvironmental Scan Paper1148 Words   |  5 Pagesï » ¿ Environmental Scan Paper Shalunda Lester MGT 498 May 2, 2015 Jerome Dausman Environmental Scan Paper Introduction The monitoring, evaluating, and disseminating of information from the external and internal environments is known as environmental scanning. This information goes to key people within the corporation to identify strategic factors and help determine the future of the corporation (Wheelen Hunger). SWOT analysis is the simplest way to conduct environmental scanning. 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For any company to succeed the company will need to conquer theRead MoreMgt 498 Week 3 Environmental Scan Paper1099 Words   |  5 PagesEnvironmental Scan Paper Your Name MGT 498 Week 3 Instructor Name Date For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquerRead MoreMGT/498 Week Three Individual Environmental Scan Paper1199 Words   |  5 Pages Environmental Scan Paper Craig Clark University Of Phoenix MGT/498 March 9, 2013 Environmental Scan Paper The environment of any organization consists of internal and external factors. An organization should conduct a scan of its environment in order for it to determine development, and a forecast on the factors that may influence the success of the organization. Scanning the environment refers to the possession and utilization of the information that an organization hasRead MoreEnvironmental Scan1153 Words   |  5 PagesMGT 498 Environmental Scan Paper MGT/498 Environmental Scan Paper Environmental scans play a crucial role in the strategic planning process by helping organizations take a look at their competitive advantages and identify ways to sustain the advantages. Wheelen and Hunger (2010) describes environmental scanning as â€Å"the monitoring, evaluation, and dissemination of information from external and internal environments

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