New Product Development

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.

6 – Products and consumer perceptions are variable, so changes in strategy may be required to better address customer needs, technological developments, new laws and regulations, and the overall product life-cycle. By monitoring external conditions and shifting product development accordingly, a company can better target its consumers and learn to react to their needs.

Members complete their work assignments independently and the outputs of each member are then pooled to represent group’s output. Example: In clothing retail store The Wal-Mart, each store acts as its own separate department with its own resources and each store rarely interact with one another. The success or failure of every separate store contributes to the company overall

Teams are an integral component of organizational success. They take on many forms and functions and can have various structures. Teams also conduct a wide variety of projects with goals of innovation or mitigation. An example, from my experience, of a project that required the execution from a team was the establishment of a finished goods inventory program within a paper manufacturing company. A project of this magnitude required that a diverse and multifaceted team be assembled.

During environmental scanning of a company, there is a thorough assessment into a complete global analysis. This involves companies, markets, clients, industries, and businesses in the same market. For this study will consider the trends, technological events, successes, and expectations in business.

This memo provides a strategic analysis of the current state of Booz Allen Hamilton Holdings Corp. The analysis includes information on the company’s mission, leadership, strategy, external and internal environment, and their competitive advantage in the industry which includes how they differentiate and use their corporate strategy. As a leader in the management consulting industry, Booz Allen provides solutions to commercial businesses and the federal government. The firm’s mission and values guide them to identify goals, and then leaders turn these goals into long-term strategies. Booz Allen’s leadership team has developed strategies to meet the goals of transforming the company and developing a culture of innovation. These strategies

1, What are the strategic options for product and/or market development for the organisation? – Ansoff’s product-matrix

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 analysis that describes the strengths, weaknesses, opportunities, and threats as strategic factors for an organization. The internal environment of the corporation is the strengths and weaknesses variables within the organization. The external

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.

The team analysis major areas of concerns are communication, development, and support. General Electric (GE) has established teams to bring about new and creative ideas for the future world of innovations. Because GE’s commitment to the development of advanced technology and employee growth, the company selects members with different levels of training or experience in order to establish new ways of creating electric equipment. This quantitative ability and collective thinking is the reasoning behind forming a team analysis. After the completion of the organizational and team analysis, a task analysis will aid in determining whether a company has

Internal environmental scanning refers to a process whereas an organization evaluates their strengths and weaknesses. This information can then be utilized by leaders to design new objectives and strategies or even modify the existing objectives and strategies. Although The Venice Golf and Country Club (VGCC) have unique features which add valuable strength to the business strategy, it is not immune to weakness. Internal environmental scanning is important to any organization when planning the future and is a crucial part of strategy development. It is through this scanning that the organization can assess its strengths and weaknesses. Understanding these is the first step in be able to plan, adapt, evolve as well as identify exact

This team provides benefits for the individuals on the team, the product and its customers, and the organization at large” (Weber, 2009). This team will be allowed to go into different departments of the company to get the feedback from other employees to make the product stronger. “The best way to solve these conflicts is to set clear goals for the team. It is important to start with a general goal, such as improving quality, but more specific goals should be set almost immediately to give the group a common bond and to ensure that everyone is working together towards the goal. Goals are easier to establish if research has been conducted by someone in the organization before the team is convened. This allows the team to jump right into goal-setting and problem-solving without getting bogged down in background research” (Inc.,

Shared leadership is optimal during the initial stage of product development life cycle, but leadership evolves to focus on key individuals whose leadership stands out as the team evolves. Team leadership approach is important in problem-solving (including conflicts) as the leader decides what to do and how to do it. In the creation of innovative products, knowledge management within the organization, information processing, and technology transfer collaboration with a research institution would be helpful. In addition, as the product being developed is related to the well-being of humanity, ethics is important and the team leader and members need to consider the impact of their design on the safety and the human ways of

Strategies guide a business to a sustainable future. (Bob De Wit and Ron Meyer, 2005). To decide strategies it is important to know the environment around the organization which can have an impact on the business in some way. Strategies are for the future and horizon scanning is done to predict the future environmental conditions, as accurately as possible, based on available information.

This analysis consists of analyzing the external environment of the company (competitors, social, technological, regulations, etc.). The purpose is to identify the key opportunities and threats in the environment.