STR 581 Week 2 Environmental Scan and Summary
STR 581 Week 2 Environmental Scan and Summary
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Date Created: 11/06/15
1 Running head: ENVIRONMENTAL SCAN AND SUMMARY Individual Assignment: Environmental Scan and Summary 1 YOUR NAME STR/581 DATE NAME OF PROFESSOR ENVIRONMENTAL SCAN AND SUMMARY 2 ENVIRONMENTAL SCAN AND SUMMARY 3 Individual Assignment: Environmental Scan and Summary When conducting an environmental scan, it is most beneficial for Kudler to utilize both an internal environmental scan and an external environmental scan. In order to effectively conduct an internal environmental scan, it is most appropriate for Kudler to utilize a SWOT analysis in order to identify the company’s strengths, weaknesses, opportunities, and threats. In this capacity, if Kudler ultimately wants grow and further expand, it will certainly have to capitalize on its key strengths while overcoming its major weaknesses and threats. Additionally, Kudler should particularly focus on minimizing its operating expenses and costs in order to survive in today's highly competitive market and current economic recession. When it comes to strengths, Kudler’s product mix is solid. Kudler offers its customers fresh, highquality food that has essentially given the company a reputable market presence within its markets (Kudler Fine Foods Web Site, 2007). As such, Kudler has been able to price its products accordingly. One of Kudler’s primary weaknesses pertains to its inability to expand. Kudler has a restricted presence and is not recognized on a national level. This is largely due to the fact that company lacks in its overall resources, while its competition has more at their disposal. As far as opportunities are concerned, Kudler can certainly build upon its image and store recognition while expanding to new locations. Additionally, Kudler has the capacity to build upon its current product mix that offers quality products by offering more varieties to both the current and new locations. Kudler’s threats derive from its strong competition. The industry in which Kudler operates in is comprised of large, nationally recognized food chains that have far greater resources (Kudler Fine Foods Web Site, 2007). Additionally, Kudler’s target market is everchanging in its desire and requirements for food. ENVIRONMENTAL SCAN AND SUMMARY 4 Since Kudler’s major strengths lies within its product mix, it is essential for Kudler to promote its products’ quality and superiority over its competition’s products. The company should also build upon its existing market presence and reputation in the areas in which it serves. Kudler has been able to effectively charge premium fees for its quality foods. Nonetheless, Kudler does not appear to be an enormous retailer; its geographical presence is somewhat narrow. It may be wise for the company to build upon its current resources and become larger in order to make it easier to compete against its competition. In this capacity, Kudler should reevaluate its bargaining power. In order for Kudler to gain a more competitive advantage, it would be beneficial for the company to bargain with its suppliers more effectively in an attempt to free up some of its resources. This, in turn, may allow for them to grow by establishing additional retail locations. If Kudler is not able to effectively do this, the company may potentially be paying higher rates for its products and materials in comparison to its competition; this will make its competition more efficient and potentially more powerful. It is also essential that Kudler continue to invest in Research and Development and push innovation in order to make sure that the company continues to offer the bestquality specialty foods within its market(s) at the best prices possible. Kudler needs to additionally evaluate the current economic condition that its markets are facing. The economic recession has affected the nation in numerous ways; this has a direct affect on the ability for a company such as Kudler to grow. As such, Kudler will find it increasingly difficult to maintain its growth rate. This is especially true for Kudler due to the fact that it is functioning in an upscale market. It would make sense for Kudler to become more price sensitive and pay extra attention to its cost related issues in order to offer the best possible value to its priceconscious consumers. ENVIRONMENTAL SCAN AND SUMMARY 5 References Kudler Fine Foods Web Site (2007). Accessed March 1, 2010 from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Kudler/Internet/KudlerPor t.htm
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