Environmental Scan Paper

1148 Words5 Pages
Environmental Scan Paper
Shalunda Lester
MGT 498
May 2, 2015
Jerome Dausman

Environmental Scan Paper
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 acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. These factors are important because before an organization can begin strategy formulation, it must scan the internal environment for strengths and weaknesses and their
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Threats A big threat for Best buy is strong competitors and the digital media rely on physical products and is hurting best buy's profits. Some of the smaller products that Best buy sell are becoming more desirable. But, they are brought over the internet easily. Electronics are cheaper online and they have intense competition for stores like Best buy. Lastly the substitute for lower margin products could hurt best buy.

Apple’s Competitive Advantages and Strategies One of Apple’s competitive advantages is that multiple products that integrate as one and the constant, never-ending change in Apple’s business climate. It’s hard for Apple customers to tell the difference between their product apart from for the size and shape. There is no other company that has efficiently corralled customers to other seemingly different products by getting them to purchase just one. Another one of Apple’s competitive advantages that really stands out is in marketing. Apple recognizes what will get customers enthusiastic about its products, and then they fulfils that vision. Apple shows how the computer will make your life better, rather than talking the about features and technology. Apple has manufactured a truly sustainable competitive advantage and created value by locking in deals with big record labels such as Universal, Warner Sony, and EMI. ICloud’s generates 30% of revenue alone..

Best Buy’s Competitive Advantages and Strategies

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