Advantages And Disadvantages Of Environmental Scanning

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually

Environmental scanning involves an organization to look at any trend, opportunity or threat that could create issues for their company. Once any of these issues are identified, the organization should consider new strategies that react to these external factors. Issues should be examined that involve not only direct customers and suppliers, but also competitors, any changes in regulations and possible political involvement. External factors will be constantly changing so environmental scanning should occur frequently and regularly to ensure the current issues have been captured. Research and data analysis can help drive decisions regarding overall marketing changes that might be necessary.

Businesses can prepare their own analysis for each category by obtaining numerous pieces of information, which relate to their current state as well as knowledge about how their company’s decisions and operations impact their society and environment.

If there is not enough data in the case study to assess the above, what

1. Environmental scanning – A version of environmental scanning in which the firm identifies desirable markets by using the environmental forces to eliminate the less desirable markets

Not only do we have a tendency to ignore and misinterpret evidence that conflicts with our own views; we also have tendency to look for and recognize only evidence that confirms them. We tend to look for confirming rather than disconfirming evidence, even though the latter can often be far more revealing.

Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.

To stay tuned to the recent situation in order not to miss perspective opportunities, an organization should go on with continuous scanning of its environment. According to Jobber, environmental scanning is “the process of monitoring and analyzing the marketing environment of a company” (Jobber, 2010, p.93). Aguilar states (Aguilar, 1967, cited in Costa, 1995, pp.4-5) that environmental scanning serves the purpose of gathering information about the facts and events happening around the company in order to let the management lead the organization in the right direction. Most of the authors agree on the same main function of environmental scanning.

Environmental analysis is largely strategic thinking and strategic planning and consists of understanding the issues in the external environment to determine the implications of those issues for the organization (Ginter,2013). Strategic management does not replace traditional management activities such as budgeting, planning, monitoring, marketing, reporting, and controlling. Rather, it integrates them into a broader context, taking into account the external environment, internal organizational capabilities, and your organization's overall purpose and direction. With having a strategic plan and someone to administer the plan, the organization can flow

Environmental analysis is important for a company. This allows for the company to look at external factors that will help them to succeed or fail. Environmental analysis could be internal as well as external. The internal analysis allows the company to look within and analyze the successes and see where improvement can and should be made. The external analysis looks at factors such as location, marketing, and surrounding areas to analyze if the these factors are what is best for the company.

What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness

Major limitation of the project has been the unavailability of current data, of the contributors to

The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.

To assure the success of a business over a long period of time the business must be able to conduct regular analysis of their success. They must be able to determine where they are today and have a goal of where they would like to see themselves 5-10 years down the road. In order to conduct a true analysis of the company, one must complete an environmental scan of their organization. Thus scanning for events, trends, issues and expectations that they may be faced with in the future. Furthermore, examining all internal and external environment challenges. Internal environmental challenges may be with employees, shareholders or board of directors or the overall culture of the organization. External environmental

An organization is an open system; therefore it interacts with its environment. To manage the relationship with the environment, a large part of strategic planning is concerned. The environmental factors can be divided to 2 main categories, which is MACRO and MICRO .Macro environmental factors seriously affect an organization business practice, profitability and future progress. It can