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MGT 498 Week 3 - Individual Paper - Environmental Scanning Paper

by: NUMBER1TUTOR Notetaker

MGT 498 Week 3 - Individual Paper - Environmental Scanning Paper MKT421

Marketplace > Phoenix College > MKT421 > MGT 498 Week 3 Individual Paper Environmental Scanning Paper
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GPA 3.8

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MGT 498 Week 3 - Individual Paper - Environmental Scanning Paper
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This 6 page Study Guide was uploaded by NUMBER1TUTOR Notetaker on Friday November 13, 2015. The Study Guide belongs to MKT421 at Phoenix College taught by in Fall 2015. Since its upload, it has received 63 views.

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Date Created: 11/13/15
RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper MGT 498 Week 3 – Environmental Scanning Paper University of Phoenix (Axia) Name Teacher Date 1 RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper The success of a business depends on the firm’s internal and external situations.  The concept of “survival of the fittest” applies in the business world also. A business can  only be successful in the business atmosphere when the company has analyzed its  internal and external environments and takes specific measures to strengthen both  environments. The internal and external environments are far from inert; each  environment is fluctuating due to many perceptions, issues, resources, competition,  chance, etc. The goal of environmental scanning is to create a model of the variance in  each environment and form contingency plans for each possible variance effect.  All modern businesses apply complex environmental scanning systems to manage the internal and external environments and have them on their favor. Two of those  companies are Apple, Inc. and Wal­Mart, Inc. Apple, Inc. is one of the most successful  technological companies out there; Apple’s success is mainly dependent on its excellent  internal innovation team and Apple’s external mass marketing. Friends Steve Jobs and  Steve Wosniak founded Apple in the late 1900s. They released the first Macintosh  computer in the 1970s and now release the most sophisticated cell­phone, tablet,  computer, and laptop products known to mankind. Apple, Inc. specializes in selling top­ notch computer and laptop products in many countries such as the United States, Canada, England, India, China, etc. and deals with millions of customers from all over the world  everyday.  Apple, Inc. is known today as a technology revolutionist corporation because it  released products that no one had ever imagined could be available to the common man.  2 RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper Apple, Inc. products revolutionize the concept of hand­held computers and released one  of the first music and “touch­screen” devices and introduced the largest online music,  videos/podcasts, TV shows, books, and radio stores known as iTunes. Nowadays one can  find an Apple Store near them in a radius of at least 20 miles. The internal environment  of Apple represents a highly competent team of young and talented individuals who have  the aptitude to design and create revolutionary products. Trepidations for the internal  environment revolve around the outsourcing of Apple products production and product  innovation after Steve Jobs’ death. The external environment of Apple, Inc. shows great  vigor, as Apple, Inc. is a feared company and is a competitive superpower. However,  many companies such as Motorola, Inc. are entering Apple’s market as they have started  to create iPad and iPhone­type products to compete with Apple, Inc. Many well­known  online rating sites say that the Apple, Inc. iPad 2 is the best of the 6 other companies’  iPad 2 counterparts. However, the Galaxy Tab is giving Apple, Inc. some tough  competition with market skimming pricing strategies compared to Apple’s premium  pricing strategies.   Apple, Inc. retains its image in the market by the release of revolutionary products on a timely basis that are high quality. Apple’s guidelines consist of product quality by  using ISO and Six Sigma control to make sure all products are under the tightest quality  control. However, the programming of the iPads and iPhones are faulty and have many  bugs. In all, the product quality of the Apple devices is very good, and Apple, Inc. has an  excellent customer service repair team.  3 RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper Wal­Mart, Inc. is like Apple, Inc. – a fairly decent company a decade before that  was not as good compared to other computer companies such as HP (Hewlett Packard)  and Dell – which in this case also means that Wal­Mart blossomed similarly to Apple, Inc in a short amount of time. Wal­Mart is a popular retail store chain that has thousands of  stores open all over the United States in the reach of any customers and in foreign  countries such as Canada, England, China, Mexico etc. Wal­Mart retail stores have  almost every necessity to live and Wal­Mart Superstores offer an even wider selection of  items. Wal­Mart’s reputation of having the lowest prices is a definite one, and that is one  of the key success points of Wal­Mart. The internal environment of Wal­Mart reveals a  well­designed logistics and supply­chain system and an excellent strategic plan including  extreme marketing and competitive actions. Wal­Mart is constantly upgrading its stock of products and allows the purchase of new items such as ethnic foods (i.e. Mexican, Indian, Thai, Italian, etc.). The internal environment of Wal­Mart has improved in the last couple of years and has saved the company. The external environment of Wal­Mart shows  intense expansion in America, as one can find a Wal­Mart store almost anywhere in the  United States. However, Wal­Mart still has a lot of opportunities to globalize and expand. Wal­Mart is global icon and is a feared retailor; if Wal­Mart enters into a new retail  market, it is certain that existing retailors of that market will lose about 20 – 30% profit.  However, some countries are protesting against the entry of a Wal­Mart in their country  such as India because the system of purchasing goods in India is based of a cottage­ industry style and a Wal­Mart would eliminate the jobs of thousands.  4 RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper Wal­Mart retains its competitive image and retail­fear in the market through a  mass marketing campaign ranging from the Internet to television. Along with this, Wal­ Mart has one of the best logistics system and optimized supply chain system that any  retailor has, thus it remains the king of retailors. Wal­Mart uses measurements guidelines  by comparing itself to other retailors and measures if the growth is comparably better  from last quarter. These guidelines are very effective as Wal­Mart realized it was falling  behind back then and got back onto its feet with its new strategic plan. Every company needs to have environmental scans done constantly. It is similar  to scanning for viruses; one must scan his/her computer for viruses to make sure the  computer is safe and running, and if a virus is found, then the computer will  automatically remove it. Each company must do repetitive environmental scans to  constantly update its strategic management plan to the fullest efficiency and  effectiveness. Companies who have failed to scan their environments have faced many  troubles (such as Blockbuster) and failure in scans results in failure in updating the  strategic plan which eventually fates the downfall of the corporation.  5 RUNNING HEAD: MGT 498 Week 3 – Environmental Scanning Paper References 6


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