King C Week 3 MGT 498 - Running head ENVIRONMENTAL SCANNING...

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Running head: ENVIRONMENTAL SCANNING PAPER 1 Environmental Scanning Paper Conesa King MGT / 498 February 03, 2015 Rodney Adams
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ENVIRONMENTAL SCANNING PAPER 2 Environmental Scanning Paper As companies continue to make economic recovery from the recession of 2007/2008, precise strategy and keen corporate assessment are critical to prevent any recurrences of the things that led to organizational failure. One of the most effective ways to take such an assessment is through an environmental scan. This involves “the study and interpretation of the political, economic, social and technological events and trends which influence a business, and industry or even a total market” (Wheelen & Hunger 2010). For the purposes of this paper, we will briefly utilize an environmental scan to examine the internal and external environments of Walmart and Starbucks as they pertain to the competitive advantages and strategies that drive their businesses. To begin, we first need to establish that when we talk about an environmental scan we are talking about the “possession and utilization of information about occasions, patterns, trends, and relationships within an organization’s internal and external environment” ("Environmental Scanning - Internal & External Analysis of Environment", 2013). Specifically when we consider the external factors, we are referring to the social, technological, economic, regulatory, and competitive forces that impact development and forecast of trends that can influence organizational success. Internally when we talk about an environmental scan, we are referring to employee interactions with management, other employees, management relations to each other and shareholders, organizational structure, operational potential, access to natural resources, brand awareness, and even interviews and surveys designed to analyze and identify strengths and weaknesses. Now while we will not touch on each and every one of these internal and external factors, we will look briefly at some to assess strategy and competitive advantage.
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ENVIRONMENTAL SCANNING PAPER
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  • Spring '12
  • Lamb
  • Natural environment

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