WK 3 - Individual Paper - Enviromental Scanning

WK 3 - Individual Paper - Enviromental Scanning - Running...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Running head: ENVIROMENTAL SCAN 1 Environmental Scan Katie Williams MGT/498 - Strategic Management December 19, 2011 Dr. Tug Gokaydin
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ENVIRONMENTAL SCAN 2 Abstract In week, three students at University of Phoenix are required to write an essay on 2 or 3 different companies which analysis each companies environment internally and externally. In the body of this paper the student has decided to write about two competitors in the coffee market, these are Starbucks and Dunkin Donuts. In the summary of this environmental scan, him or her will include information about each companies competitive advantages, what strategies each company uses to gain their competitive advantage. They must also define how the companies create value and sustain their competitive advantages through their business strategy. Each company's measurement guidelines must be defined and how effective these guidelines are for each company.
Background image of page 2
ENVIRONMENTAL SCAN 3 Environmental Scan Before any organization can begin a strategic formulation, they must first scan their external and internal environments. They can do this by conducting an environmental scan, this scan will show them their external environments, which include the possible opportunities the company has, and any threats that may confront the company in the future. This scan will also show the company their internal environments, which consist of both their strengths, and weaknesses. However, for one to have a good understanding of what an environmental scan is, they must first know what it stands for. According to (Wheelen, & Hunger, 2010, p. 98),"environmental scanning is the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the corporation." Starbucks has many strengths and weaknesses which make up their internal environment, such as in terms of strengths Starbucks has a high brand equity, satisfied customers and employees, exclusive coffee products, many locations, and a strong financial foundation.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/03/2012 for the course BUSINESS M MGT 498 taught by Professor Tugtekingokaydin during the Spring '12 term at University of Phoenix.

Page1 / 7

WK 3 - Individual Paper - Enviromental Scanning - Running...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online