Environmental Scan - 1153 Words

MGT 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 to key people within the corporation† (p. 10). Metrics or measuring tools are implemented in order to measure or track the progress of a strategic plan. Internal and external factors help an organization in the decision -making process of†¦show more content†¦Sprint focuses on services by looking at ways to bring the customers in and retaining them. The biggest seller for Sprint currently is the unlimited data plan. Sprint is the only network that has this program. With their competitor, ATT, customers tend to go over their plan usage, which causes more fees and the uncertainty of interrupted services. Sprint had to research and become creative in order to stay a step ahead of its competitors and provide innovative ideas. â€Å"Sprint Nextel served more than 55 million customers at the end of 2011 and is widely recognized for developing, engineering, and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States† (Sprint, 2012). In order to continue being one of the leading providers in wireless communication, Sprint will have to continue looking at innovative ways to stay ahead of its competitors and providing customers with excellent services. In taking a look at the environmental scanning process for Sprint, it must be noted that external information must be gathered from all levels need to be evaluated to see what kind of information is being distributed inside the company that could possibly cause concerns for management as it relates to any changes. With the market changing, Sprint has to scan the market environment by looking at technology and the competition. Sprint tracks trends that alert them what age groups, nationalities, andShow MoreRelatedEnvironmental Scan1442 Words   |  6 Pages Environmental Scan – Lego and Harley Davidson MGT/498 Strategic Management November 14, 2013 Mario Ducret Environmental Scan – Lego and Harley Davidson Internal and external environments are very important for businesses operating globally due to local and external competitions. Healthy businesses must analyze their internal and external environments in their strategy formulation. Strategic planning requires that an organization must initially scan the environmentRead MoreEnvironmental Scan1350 Words   |  6 PagesEnvironmental Scan of Home Depot Crystal Graham MGT498 March 18, 2013 Rob Inglis Environmental Scan of Home Depot Strategic planning is necessary for every successful company and needs to be managed accordingly. Environmental scanning is the first phase in strategic planning management. Environmental changes, whether external or internal can pose major problems for a company. A scan of environmental factors provides a better understanding of current trends and what causes things to changeRead MoreEnvironmental Scan1299 Words   |  6 PagesEnvironmental Scan Successful organizations do not happen by chance, but through hard work, strategic planning, and understanding the company inside out. It takes continuous forward thinking and actions by leadership to remain relevant in industries where new technology can push one forward or backward in the time it takes a season to change. Therefore organizations must conduct environmental scans to determine their internal and external environment as part of the strategic plan process. ThereRead MoreEnvironmental Scan1557 Words   |  7 PagesEnvironment Scan The week three assignment for Strategic Management MGT 498 involves researching the environmental scanning practices of two to three real-world companies’ internal and external environments and describe their internal and external environments. This assignment provides a brief overview on the competitive advantages of each identified company and what strategies these companies use. Included in the assignment is information on how each company creates value and sustains their competitiveRead MoreEnvironmental Scan Essay1306 Words   |  6 PagesEnvironmental Scan Dwayne A. Haynes MGT/498 August 12, 2013 Michael Medoro Environmental Scan Internal and external environmental scanning helps shape strategic management and planning. Companies use business strategies to create value and secure competitive advantages. Measurements verify the company’s strategic effectiveness. This essay is a brief overview of the internal and external environmental scans, competitive advantage, value, and measurements used at Wells FargoRead MoreEnvironmental Scan725 Words   |  3 PagesInternal versus External Environments of Kudler Fine Foods NeShawn Y. Mack University of Phoenix June 22, 2010 Kudler Fine Foods In society today beginning health is top priority. Many will go all extremes to obtain the healthier lifestyle desired by so many. Kudler Fine Foods has three locations that give healthier food options for everyday meals. Kulder Fine Foods offers organic and non-organic foods to surround areas to for those wanting a healthier lifestyle but at a reasonable priceRead MoreEnvironmental 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 Essays952 Words   |  4 PagesEnvironmental Scan Nanette Guffey MGT/ 498 – Strategic Management Richard Haines September 17th, 2012 Environmental scanning is an organization’s strategic management and is actual important to the corporation. Environmental scanning is getting-together data for the external and the internal of the company.Read 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. The