Environmental Scan Paper

1497 WordsJan 7, 20156 Pages
Environmental Scan Paper MGT/498 December 10, 2014 Dr. Pamela Linden Environmental Scan Paper Environmental scanning plays a critical role in the strategic management planning process. The environmental scan provides important information, which may be useful in forecasting changes for the future. Environmental scanning is, “the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the organization.” (Wheelen and Hunger, Ch.4, Sec. 4.1) Managers scan the internal environment for strengths and weaknesses and the external environment for opportunities and threats. Strengths and weaknesses can be found within the company structure, as well as the employee pool.…show more content…
“Last year, Starbucks opened 500 new stores in China, bringing the total to 1500.” (Forbes.com, 2014) Since their beginning 43 years ago, Starbucks has become the most well known coffee house in the United States. Their cups and signature green straws are well recognized by many as sign of a quality product at a premium price. Walmart was founded in 1962 with the opening of its first store in Rogers, Arkansas; with one goal in mind, “helping customers and communities save money and live better.” (Walmart.com, History, 2014) Internal factors Walmart must focus on for strategic planning include offering a full variety of products ensuring their customers can have a “one-stop” shopping experience versus needing to visit other stores to complete their lists. When Walmart first opened, the product line offered consisted of clothing, shoes, house hold items, and automotive services, just to name a few. The first Walmart Supercenter opened in Washington, MO in 1988, offering the one-stop shopping experience. “As the Walmart Supercenter redefined convenience and one-stop shopping, Every Day Low Prices went international.” (Walmart.com, History, 2014) Walmart spent much of the 1990’s decade focused on opening more locations globally, expanding into countries such as Mexico, Canada, and China. This move paid off for Walmart, as they reached its first $100 billion in sales. (Walmart.com, History, 2014) Some external factors Walmart must include in their

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