Environmental Scanning
Write a 1,050-word report in which you use Walmart to:
- Evaluate the internal and external environments of your selected company using an environmental scan.
- Analyze the competitive advantage of your selected company.
- Evaluate the strategies your selected company uses to create value and gain competitive advantage.
- Examine the measurement guidelines your selected company uses to verify its strategic effectiveness.
- Evaluate the effectiveness of the measurement guidelines your selected company uses.
Cite 3 references
Solution Preview
Environmental scanning is a procedure of analyzing, gathering, and administering data for strategic or vital purposes. The environmental scanning process involves acquiring both subjective and accurate data on the business settings in which an organization is working or considering entering. The organizations must know what is going on in the environment for the most part in since environment has affected in the business operation. A business unit needs to monitor main macroenvironmental forces (technological, demographic-economic, social-cultural, natural and political-legal) and critical microenvironmental players (clients, contenders, suppliers, wholesalers, merchants) that influence its capacity to gain revenues. The business unit ought to set up a marketing intellect framework to track patterns and important advancements. For each pattern or improvement, administration requires distinguishing the related threats and opportunities (Hambrick, 1982). This paper will discuss the environmental scan of the Walmart Company.
(1,144 words)