Environmental Scan - 1442 Words

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 environment for the presence of numerous competitors as well as analyzing physical resources and skills of the workforce. Evaluation of the internal and external environments is then followed by crucial decisions regarding long and short-term goals†¦show more content†¦Companies in the toy industries including Lego have ensured low suppliers’ bargaining power. Retailers play an important role in selling and distributing Lego’s company (Hjuler Robertson, 2009). Additionally, Lego has huge cost advantage since it does their production in low waged regions as well as the advantage of economies of scale. Lego also enjoys a vast variety of expertise that enables them to make competitive decisions. In addition, they have high brand equity that have been created for a long time. Metcalf Lafranco (2013), argue that Lego has addressed the issue of threat brought about by computer games by moving to electronic gaming. Lego enjoys loyal customers worldwide with exclusive licenses, solid distribution network, financial liberty as well as market experience. Harley Davidson’s Internal Environment According to Agnihotri (2013), Harley Davidson is amongst the leading motorcycle companies that have applied technology to their image thus making it stay competitive. The organization possesses a lot of internal resources that strengthen their long-term strategies. It has a great corporate structure that counts as amongst the first divisional structure that used just in time inventory strategy. It is involved in a diversified kind of business that not only includes motorcycles but also includes other related products and financial services.Show MoreRelatedEnvironmental 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 Scan1153 Words   |  5 PagesMGT 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 environmentsRead 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