Free Essay

Mgt 498 Week 3 Individual Assignment Environmental Scan Pape

In: Business and Management

Submitted By thumper5252
Words 1368
Pages 6
Environmental Scan Paper
Kenneth Anderson
MGT / 498
November 10, 2014
Rodney Greene

In business, it is important to gauge internal business with external business. This process will provide an advantage for shaping the future of business. For that reason, the procedure of creating strategies will help by conducting environmental scans.
Environmental Scan
Designing and building on core values is a required strategy when an organization wants to keep a competitive edge over the competition. There are numerous strategies to pick from in business; a significant strategy is keeping an eye on needed changes and financial trail of record keeping. Furthermore, it is necessary for organizations to keep an outlook on what external sources are doing. It is imperative when acquiring information that defines what other organizations are doing to be conducted in an ethical matter.
Committing unethical deception will cause organizational anarchy. The reason long surviving companies like Smart and Final last; is by removing possible dangers so change for the better will be obvious. Ultimately, legacies are built, and the organization’s reputation utilizes power and self-reliance. A thorough global analysis assessment must be completed during an environmental scanning of any organization. This assessment includes businesses, clients, markets, and industries in the same industry.
The objective of this paper is to examine the organization and conduct an environmental scan, which will define their competitive advantages and operating strategies. Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation (Wheelen & Hunger, 2010, pg. 16). Let’s begin by a comparing Smart and Final’s values versus Costco values. Smart and Final has developed the First Street brand.
The First Street brand expectations are to be equal or better than the competition. Costco has developed the Kirkland brand. The Kirkland brand expectation to be equal or better than the competition. A constant product development must be conducted to maximize challenging goals. Product and price evaluations are constantly reviewed by both Smart and Final and Costco internal research team. While Smart and Final’s and Costco are in a close race with customer service, there is a variation when conducting research that goes into product opportunities.
Let’s break down each company individually, first there is Smart and Final, who has been in the business for over 140 years and were a registered trademark. The product Smart and Final sell caters to the small business, clubs, family, and organizations need on a daily basis which carry over a thousand of items in smaller, convenient sizes. “Smart & Final is the convenient warehouse grocery store committed to offering superior service, exceptional value and quality products to households, business and community groups"(Smart and Final History, 2014, para.3).
So whether you are shopping for your business or home, Smart and Final is well known among the business and large families sectors as “the smaller faster warehouse store”. So why is the organization so valuable to the business sector, because the brand is a part of Los Angeles history in the sense that it survived by offering better customer service and the “cash-and-carry” concept. Smart & Final rightly figured the chain could reduce overhead by introducing self-service but still retain high-quality selection and service (Smart and Final History, 2014, para.1).
Another improvement was building or finding property near client’s businesses, identifying the important of their time and freeing them the trip to an out-of-the-way warehouse. The niche that the company established is providing product and services to small business providing them with finding the necessary product when needed at lower prices. Smart and Final maintains it place in the market by flooding the market through advertising, catchy phrases, and word of mouth. While these strategies may appear very simple for a service that was created for community purposes by partners Herman Hellman and Jacob Haas.
Environmentally Smart and Final had faced confrontations when they received bad media about their stores in Florida and Colorado. These external factors present problems for the wholesale grocer in these states. Florida and Colorado residents not use to the concept of “cash-and-carry” so they did not buy into any of the services the company was providing. Another environmental factor that had an effect on Smart and Final is opening stores in Mexico.
The United States did not agree with this strategy and felt that the company would be conducting unethical behaviors with the drug cartels. The organization had to conduct an environmental scanning to see if doing business with Mexico would be the right choice.
Costco is a membership warehouse club, dedicated to bringing their members the best possible prices on quality brand-name merchandise. With hundreds of locations worldwide, Costco provides a wide selection of merchandise, plus the convenience of specialty departments and exclusive member services all designed to make shopping experience a pleasurable one ("Costco”, 2014,para. 1).
Costco designed their warehouses to help small-to-medium-sized businesses in reducing cost in purchasing for resale and use for everyday business. Individual customers can also become a member and purchase product for personal use. Costco has the most exclusive product selections found every warehouse. These selections include appliances, groceries, television and media, candy, automotive supplies, hardware, tires, sporting goods, toys, watches, jewelry, books, cameras, furniture housewares, clothes, tobacco, health and beauty aids, office supplies and equipment.
The company opened its first location in 1976 in a converted airplane hangar in San Diego, Ca. It serviced only the small businesses but found out it could profit from also servicing the non-business members. With this new change, Costco warehouse club industry was up and running. The company opened its second warehouse in Seattle, WA. Costco became the first company to grow from zero to $3 billion dollars in sales in less than six years (Costco, 2014, para. 1). Costco operating philosophy was simple, keep cost down and pass the savings to the members.
With their large membership and incredible buying power, combined with efficiency, the results were better pricing for the customers. By 1997, Costco grew worldwide with total sales exceeding $64 billion dollars. Costco chooses to target small-to-medium business audience by offering several memberships. Smart and Final choose to target the small business and family sector without membership.
Costco reinvention and business strategy helped the company stay very competitive warehouse club market. Costco like any modern business has a mission and vision for the company and according to "Costco Mission Statement"(2014), "Costco's mission is to provide our members continually with quality goods and services at the lowest possible prices. In order to achieve our mission we will conduct our business with the following Code of Ethics in mind:
• Obey the law
• Take care of our members
• Take care of our employees
• Respect our vendors
If we do these four things throughout our organization, then we will realize our ultimate goal, which is to reward our shareholders” (para. 1).
Perseverance can be learned from these two companies in the business of marketing. If the organization has a product that they believe in, then the strategies in marketing along with the commitment will give the product a long life just like the two organizations have shared for over one hundred years. The difference with these two organizations lasting longer than their competitors in the warehouse grocery industry is they both have products that the public wants, so they adjust their products to suit a specific customer.
Along with the good marketing strategy and surviving negative external factors of competition and listening their customer request which is a very important strategy of them all, but without the clients these organizations would have not survived and become an important part of every community.

Wheelen, T. L., & Hunger, J.D. (2010). Concepts in Strategic Management and Business Policy 12e Entire eBook (12th ed.). Retrieved from The University of Phoenix eBook Collection database.
Smart and Final History. (2014). Retrieved from
Costco. (2014). Retrieved from
Costco Mission Statement. (2014). Retrieved from Statements/Costco-Stores-Mission-Statement.htm…...

Similar Documents

Premium Essay

Environmental Scan

...Environmental Scan Jeffery McDonald MGT/498 Professor Thomas Hughes April 20, 2013 University of Phoenix Environmental Scan Environmental scanning is the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the corporation. A corporation uses this tool to avoid strategic surprise and to ensure its long-term health (Wheelen & Hunger, 2010, p. 254). When scanning the external environment a company looks for opportunities and threats. The external environment involves natural factors, societal factors, and industry factors. These variables must first be examined. The internal environment is an organizational analysis of a company’s strengths and weakness. Understanding strength and weakness will allow a company to determine the opportunities they can take advantage of. The internal environment consists of structure, culture, and resources. Gathering information is the first process in strategic planning. It allows a firm to create value, and sustain a competitive advantage. Firms measure their strategic effectiveness by using measurement guidelines. This paper will examine the strengths, weaknesses, opportunities, and threats of Wal-Mart, the world’s biggest retailer. Wal-Mart Wal-Mart is a multinational retail chain headquartered in the Bentonville, Arkansas. The company was founded by business man Sam Walton in 1962. It quickly grew and by 1967 Walton owned 24 stores doing $12.7......

Words: 1289 - Pages: 6

Premium Essay

Environmental Scan

...Environmental Scan Paper Xxx xxxxx MGT 498 September 18, 2013 Professor xxxxxx xxxxx Environmental Scan Paper The vigilant monitoring and firm’s evaluations of internal and external environments to detect signs of early threats and opportunities that influence planning is Environmental scanning (Deresky, 2010). In order to help an organization understanding internal and external factors of the environment that they are requiring for their long-term goals, strategic planning is of the utmost requirement for them. In this paper, I will recognize and explore the situations of internal and external situations used to make these two organizations successful, Coca Cola and Apple. I will also examine the business plans used by the two companies that give them their competitive advantages and how their individual strategies are used to give them sustainability in the market place and increase their market strength through creative and competitive strategic business plans. The measurement guidelines is another avenue explored and how it is used to support the effectiveness for the individual organizations and the effectiveness of the measurement guidelines. This next process is to demonstrate beneficial knowledge for management that wishes to increase long-term efficiencies and develop strategic planning for current and future business endeavors. Dividing the organizations in 2 divisions; 1) The conditions, entities, events, and factors within an organization that influence...

Words: 1276 - Pages: 6

Premium Essay

Environmental Scan

...Environmental Scan Strategic Management MGT/498 October 21, 2013 Eligah King Environmental Scan In the business world today there are internal and external environments. Using a competitive advantage and strategies can help a company succeed or if it is not very good help it to fail. Everyone is familiar with the Enron scandal this is obviously a company that did not feel that company values was important because they deceived the public and ended up filing bankruptcy and going to jail. On the other side of the spectrum is Starbucks. Starbucks is a company that is dedicated to meeting and exceeding the expectations of their customers. And with them now being an international company they have succeeded. Enron One of the biggest scandals to hit corporate America was the Enron scandal. It not only affected Enron but the entire business industry. The reason for Enron’s failure was because of the unethical work practices of their employees and Enron was exposed as the Justice Department after Enron filed for bankruptcy (Corrado, 2008). Once the investigation was started, it revealed that top executives had been inflating stock prices via numerous techniques and misleading the public. The purpose behind the Enron executive doing this was to attempt to raise the stock prices and Enron would make a profit. This particular scandal involved five individuals and were said to have made a total of $150 million (Corrado, 2008). Ultimately the poor......

Words: 1016 - Pages: 5

Premium Essay

Mgt 311 Week 3 Individual Assignemtn

...chosen to motivate Candie with is the Maslow’s Hierarchy of Needs Theory. Maslow is well renowned for proposing the Hierarchy of Needs Theory in 1943. This particular theory is based on the assumption that there is a hierarchy of five needs within each individual. The five needs are physiological, safety, social, esteem, and self-actualization. According to Maslow individuals are motivated by unsatisfied needs. Once the needs are satisfied it can drive and force the employee’s next need to emerge and begin to be worked upon. There is a higher order needs and a lower order needs that Maslow grouped the five needs into. The physiological and safety needs are placed in the lower order needs. The social, esteem and self-actualization needs fall into the higher order needs (Robbins & Judge, 2011). The word motivation is comes from the word ‘motive’ which means needs, desires, wants or drives an individual. One of the most important functions of management is to create willingness within the employees to perform to the best of their abilities. Sometimes an employee might be better motivated to do well through a desire for money, success, recognition, job satisfaction and or team work. As you can see from the three distinct individuals chosen to take the self-assessments finding a way to motivate them all uniquely will be a challenge. Our managers will have to monitor their progress on a daily and weekly basis. In order for each team member to grow we will have to flawlessly......

Words: 764 - Pages: 4

Premium Essay

Mgt 498 Week 1 Individual

...expansion, companies are more interested in strategic management to remain competitive. The following paper will discuss the components of strategic management, and how Central Transport uses strategic management to remain viable in a volatile business market. Strategic Management Components Strategic management consists of four components. These components include environmental scanning, strategy formulation, strategy implementation, and evaluation and control (Wheelen & Hunger, 2010). Environmental Scanning Environmental scanning is “monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation” (Wheelen & Hunger, 2010, p. 16). This component is used to identify factors that will determine the corporation’s future (Wheelen & Hunger, 2010). SWOT analysis is the most common way firms identify strategic factors (Wheelen & Hunger, 2010). Strategy Formulation The second component of strategic management is strategy formulation. Strategy formulation is “the development of long-range plans for the effective management of environmental opportunities and threats, in light of corporate strengths and weaknesses” (Wheelen & Hunger, 2010, p. 17). Companies often define the corporate mission, set goals, create strategies, and determine guidelines during this component (Wheelen & Hunger, 2010). Strategy Implementation During strategy implementation, organizations develop......

Words: 530 - Pages: 3

Free Essay

Week 3 Eco372 Individual Assignment

...Individual News Article Daniella Baca ECO/372 October 21, 2013 Dr. Darryl Baker Individual News Article A factor that consumers must consider today is the impact that interest rates have on the United States economy. Economists believed that the housing market would begin to heal, auto sales would hit a record high, and the government would begin running a surplus. However, the only correct prediction was the rise in auto sales. Auto sales rose tremendously, and was a good sign of the economy slowly recovering. Even though the government has full control of the economy their actions greatly affect the economy. In this paper I will analyze the effect that interest rates have on the economy and how aggregated supply and demand is affected. The U.S. economy remains weak and the government has considered tapering. Tapering would mean that the government would have to reduce its asset purchase program. This process would have to be slow and gradual so that the markets will not be affected. Economists believe that tapering would result in an increase in interest rates and could have bad effects on the economy. The first part of the economy to be affected would be mortgage rates. The housing market is critical to a thriving economy and higher interest rates would slow it down drastically. For this reason tapering would be risky to the economy. Higher interest rates will hurt everyone except the investors who rely on interest income. Higher interest rates......

Words: 922 - Pages: 4

Premium Essay

Environmental Scan Mgt 498

...Environmental Scan: AAMCO Transmissions, Inc. Thomas Scotti MGT / 498 January 27, 2014 Dr. Chris Mendoza Environmental Scan: AAMCO Transmissions, Inc. Aamco Transmissions, Inc. (ATI) is a national company that has a majority of its store open and operating through a franchise network of individual owners and operators. Currently the franchise chain has approximately 750 open and operating stores, with about 5% (37) of those being company run stores. Aamco Transmissions, Inc. offers a wide variety of automotive services for retail sale, as well as a robust National Fleet program for fleet management companies as well as extended warranty organizations. While ATI does offer a wide variety of automotive services, they are better known for their expertise in the automatic transmission repair segment. Over the course of 50+ years of operating in the United States and Canada, ATI has established themselves as the largest transmission repair chain as well as an innovator with both advertising and manner in which customers are handled. Over the past 10 years, ATI has experienced a decline in transmission repair services performed in their centers, nationwide. On average, the average repair order size (dollar amount) has increase by 3% year over year during that time, but the volume of transmission services performed has continued to decline at a rate of 2% per year, on average. The challenge for the franchise is to maintain the core business model that has sustained the......

Words: 1092 - Pages: 5

Premium Essay

Environmental Scan

...Environmental Scan Paper MGT/498 November 26, 2013 Environmental Scan Environmental scanning is an essential element in monitoring and analyzing trends that can affect an organization. A tool used as a part of environmental scanning is the SWOT analysis which pinpoints the Strengths, Weaknesses, Opportunities and Threats of an organization. This paper will present a SWOT analysis of three companies from three different industries, Starbucks Coffee, southwest Airlines and Wendy’s Old Fashion Hamburgers. In addition to the SWOT analysis there will be information regarding the company’s competitive advantage, strategies used, how value is created by each company along with the measurements guidelines used to verify strategic measurements SWOT Analysis: Starbucks Coffee, Southwest Airlines & Wendy’s Starbucks Coffee, Southwest Airlines, and Wendy’s operate in three different industries, something each company has in common is utilizing as a tool the internal and external environments based on the SWOT analysis. Starbucks Coffee began as a single store in Seattle; now, the number one coffee chain in the world located in over 62 countries with 18,000 stores. In order for Starbucks to have its current success and continued success a SWOT analysis breaks down the favorable and unfavorable factors to determine the appropriate strategy to stay on top in the premiere coffee industry. The Strengths of Starbucks Coffee to name a few are the experience......

Words: 1155 - Pages: 5

Premium Essay

Mgt 415 Week 3 Assignment

...Week Three Assignment David C. Franklin MGT 415 Prof. Connie Warner March 24, 2014 We all know that a company that can build trust and bring about a rewarding atmosphere of personal appreciation and contribution will develop workplace norms and behaviors that bring outstanding performance from its personnel. Of the companies on our list the ones chose to research were CHG Healthcare, Wegmans Food Markets and Google. All three of these organizations caught my attention for number reasons, but what got my attention the most and really made me choose them was how they value their employee’s and strive to satisfy their needs. Most of us strive provide the best way of life possible for our families. When searching for employment people consider the amount of pay and the benefits before deciding which company to choose. With most companies their benefits packages will most likely consist of paid vacation, sick days, pension, and most importantly these days a good health care package. Companies try to offer a wide range of incentives and benefits to attract the best candidates companies and to remain competitive in their respected market. Like Google, “many companies today provide an abundance of attractive features to their employees such as strong benefits plans, free food, and even help with daily chores like laundry facilities.” (Losh, 2011) During my review of these companies that are listed on Fortunes Magazine's annual ranking of America's 100 Best Companies to Work...

Words: 1057 - Pages: 5

Premium Essay

Cja 364 Individual Assignment Week 3

...truck and reports say that handguns were thrown out the windows by Acosta and two associates. At the stop police officer also found other weapons hidden in the backseat and between the front seats as well as numerous of scattered casings in the floor. All three individuals were arrested and booked into jail under different charges. Acosta for narcotics possession, Hector Carlon for aggravated DUI and drug possession and Julio Carrillo for misconduct with a weapon. Prosecutors received the case but it was never file. The case was send back to police for further investigation from the Maricopa County Attorney's Office but the Phoenix Police said that they resubmitted the case because the investigation was completed but charges were never files. Dozens of ATF investigators are still watching and following Acosta because he drafted 20 family member and friend to buy weapons for him illegally. Fox news presented document obtaining information that Acosta regularly drove to Texas to meetings to obtain tens of thousands of dollars from Mexican cartel for the purchase of weapons. Acosta want back to Phoenix and dispersed the cash for the purchase of the weapons and Carrillo was one of those who get some of the money. Carrillo, a week before been arrested he became officially a Fast and Furious suspect. DEA and ATF listened to Acosta’s conversation during this period of time as well as they installed cameras outside of Acosta’s house to watch the guns purchased illegally accumulate......

Words: 1066 - Pages: 5

Premium Essay

Acc 422 Week 3 Individual Assignment

...ACC 422 Week 3 Discussion Questions - consists of: DQ 1: What is the purpose of depreciation? Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not. Should the financial statements reflect the value of fixed assets? Explain why or why not. DQ 2: What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some intangible assets not amortized? What is the implication to the financial statements? DQ 3: What are the different methods used to calculate depreciation? How does a company decide which method it should utilize? How does its choice affect the financial statements? Should companies standardize the method of depreciation to enhance comparability? Explain your answer. General Questions - General General Questions ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper ACC 422 Week 1 WileyPLUS Week Two Assignment ACC 422 Week 2 Learning Team Assignment Weekly Reflection ACC 422 Week 2 Learning Team Textbook Assignments 1 ACC 422 Week 3 Individual Assignment WileyPLUS Week Three Assignment ACC 422 Week 3 Learning Team Assignment Textbook Assignments 2 ACC 422 Week 3 Learning Team Assignment Weekly Reflection ACC 422 Week 4 Individual Assignment WileyPLUS Week Four Assignment  ACC 422 Week 4 Learning Team Assignment......

Words: 349 - Pages: 2

Premium Essay

Mgt 435 Week 3 Assignment Change Model Assignment

...MGT 435 WEEK 3 ASSIGNMENT CHANGE MODEL ASSIGNMENT A+ Graded Tutorial Available At: Visit Our website: Product Description MGT 435 Week 3 Assignment Change Model Assignment, MGT 435 Week 3 Assignment, XYZ, Inc. Change model XYZ Company is a high-end retail market that sells luxury watches, jewelleries, handbags and other related products. The company is looking for first international expansion by opening a store in Shanghai, China. The new store in Shanghai is a short-term goal and the next step will be relayed on this success. The long-term goal is to push them in to the BRIC (Brazil, Russia, India, and China) regions. The future goal and target of the company that is lining up requires more changes along the way and it is not easy task to accomplish. Hence, it is essential to have appropriate strategic plan at the earliest to prepare the organization and everyone (employees, manager) in order to accomplish the target. It is significantly clear that H&Dgates is in need of a leader who is capable in succeeding the organization and to win over the competition prevailing in the market, as changes are required at all stages. In terms of researchers, leader ship is the capability of leader in strategizing despite the differences and changes that are approaching like management changes, cultural, organizational and is able to go through them (Speller,......

Words: 448 - Pages: 2

Premium Essay

Mgt 521 Week 3

...MGT 521 WEEK 3 To purchase this visit here: Contact us at: SUPPORT@ACTIVITYMODE.COM MGT 521 WEEK 3 MGT 521 Week 3 Career Plan Building Activity Reasoning Aptitude,MGT 521 week 3 organizational planning,Week 3 Quiz, Reflection A++ GRADED!!! Navigate to the My Career Plan in Phoenix Career Services through the My Career Plan link. Complete the Career Plan Building Activity: Reasoning Aptitude. Review the Reasoning Aptitude results page.  Add tips to your career plan by selecting the opportunities tab and click the “tips” next to the competency you want to add to your career plan.  Click the “my career plan” tab on top of your page to view your populated career plan. Write a paper of no more than 350 words discussing the results of your Career Plan Building Activity: Reasoning Aptitude.  What do your results tell you about your individual thinking style or your thought process range?  How does knowing this information and your Competencies and Work culture Preferences help you to understand how work is done in teams?  What adjustments can you make to your own teamwork style based on your Career Plan Building Activities? Click the Assignment Files tab to submit your assignment. 2- Review the example SWOT Analyses located in this week’s Electronic Reserve Readings to see the types of information companies include. Complete the following tasks in the University of Phoenix Material: Organizational......

Words: 1795 - Pages: 8

Free Essay

Acc 290 Week 3 Individual Wileyplus Assignment

...ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT To purchase this visit here: Contact us at: ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT Complete the following in WileyPLUS: Brief Exercise BE4-1, Problem P4-2A, and Problem P4-3A Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 290 Week 3 Individual WileyPLUS Assignment in order to ace their studies. ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT To purchase this visit here: Contact us at: ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT Complete the following in WileyPLUS: Brief Exercise BE4-1, Problem P4-2A, and Problem P4-3A Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 290 Week 3 Individual WileyPLUS Assignment in order to ace their studies. ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT To purchase this visit here: Contact us at: ACC 290 WEEK 3 INDIVIDUAL WILEYPLUS ASSIGNMENT Complete the following in WileyPLUS: Brief Exercise BE4-1, Problem P4-2A, and Problem P4-3A Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 290 Week 3 Individual WileyPLUS Assignment in order to ace...

Words: 730 - Pages: 3

Premium Essay

Mgt/311 Week 3 Individual Paper

...|Employee Portfolio | |Motivational Action Plan | | | |Alexa Bynum | |MGT/311-Organizational Development | |Fred Greifenstein | |6/04/2012 | In this summary I will determine the motivational strategy or strategies that would be appropriate for each employee Riordan Manufacturing who was chosen for self-assessments. I will describe how the strategy selected connects to one or more of the motivational theories described in our text. Elizabeth is a strong employee who is overall satisfied with her job and has a self-awareness......

Words: 777 - Pages: 4