Environmental Scan Paper

In: Business and Management

Submitted By loveyou123
Words 1413
Pages 6
University of Phoenix
Nana Offei
MGT498 Strategic Management

Abstract

Environmental scan is the vigilant monitoring and evaluation of a firm’s external and internal environments for detecting early signs of opportunities and threats that may influence current and future plans. In strategic planning, an environmental scan can help an organization increase understanding of the internal and external environmental factors that will require reaching the long term goals of the company. Pepsi and Coca-Cola serve as prime examples of major competitors in the beverage industry and strive to be different although each company produces a similar product.
With the popularity of these corporations at the zenith of existence, each needs to develop and maintain a competitive advantage that will yield results to their favor. For the purpose of gaining a competitive advantage measurement guidelines will need to be implemented to cultivate effective strategic planning and measure the effectiveness of each plan. The intention of this paper is to research and describe the internal and external to reach a company in order to describe the internal and external environments of each and develop an understanding of how each company uses environmental scanning. Furthermore, a discovery of competitive advantages will be uncovered by examining strategies, such as creation of value and sustain, measurement guidelines, and the effectiveness of the measurement guidelines used by each company

Internal and External Environments
The whole process can be seeing as beneficial knowledge for managers wishing to increase the long term efficiency and develop strategic plans for the business. An organization’s environment can be broken into two separate divisions. First, the internal environment, which is generally compiled of the factors or elements directly involved within the…...

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