Environmental Scan - 1299 Words

Environmental 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. There are numerous organizations using environmental scanning to develop their strategic plan. Today the author will look at three successful companies, which are Southwest Airlines, Target, and Whole Foods Market. The purpose of this paper is to†¦show more content†¦Target opened its doors under the current brand name on May 1, 1962 (â€Å"Target†, 2015). In business for over fifty years is not by accident, but as a result of innovative leadership. The organization’s leadership has effec tively steered the company through many changes by understanding its competitive advantage through internal analysis. In order to deliver service and merchandise at the standard established in the beginning, management must constantly assess the environment. Target’s leadership monitors its stores for the following, appearance, access, competitive pricing, trendy merchandise, and customer service. Target’s advantage is its appeal to the shopper who want quality merchandise for retail prices. The discount retailer was the first to offer designer clothing, which set them apart from discount giants Kmart and Walmart. The organization created competitive advantage through exceptional marketing techniques in and outside their stores, quality clothing, and home dà ©cor. Just as Target must understand its internal environment, the same applies to understanding external factors. Competitors large and small pose an external threat, due to lower prices, weekly sales, customer service, and long standing brand notoriety. As a result, leadership must constantly monitor the competition to ensure they offer customers the same and more as it applies to prices, convenience, customer service, 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. 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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