Week 3 Individual Assignment
Environmental Scanning of Wal-Mart and Target
Lizette Morales
MGT/498
March 30, 2016
Week 3
There are many successful corporations in the world because they are aware that change and trends can occur at anytime. It is essential for corporations to be susceptible to change as well as using tools to show the internal and external factors of their organization. Implementing measurement tools to will help determine the status of the organization. Research show, to identify the need for change as opportune is an environmental analysis based on internal and external factors, to see the influence that they show so that the organization could achieve those reactive changes, which consist of adapting to the environment, or contrary to promote proactive changes that make the organization to influence the environment and not vice versa (Nadina R. 2011). Wal-Mart and Target are two successful corporations, which compete against one another in providing quality products and services to people in their community. Wal-Mart and Target implement environmental scanning to help them rise above their competitors. Wal-Mart and Target identifies the need for change is the environmental scanning tool. Environmental scanning helps corporations determine the status of internal and external factors of the business. 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).
Some internal factors of Wal-Mart and Target focus on tangible and intangible resources, such as financial resources, organizational resources, technology, management, marketing, manufacturing, and consumers. Some external factors of Wal-Mart and Target focus on the economy, socio-cultural, Global, politics, demographics, and unforeseen events. Wal-Mart competitive advantage consist of providing affordable prices, provide a
Lizette Morales
MGT/498
March 30, 2016
Week 3
There are many successful corporations in the world because they are aware that change and trends can occur at anytime. It is essential for corporations to be susceptible to change as well as using tools to show the internal and external factors of their organization. Implementing measurement tools to will help determine the status of the organization. Research show, to identify the need for change as opportune is an environmental analysis based on internal and external factors, to see the influence that they show so that the organization could achieve those reactive changes, which consist of adapting to the environment, or contrary to promote proactive changes that make the organization to influence the environment and not vice versa (Nadina R. 2011). Wal-Mart and Target are two successful corporations, which compete against one another in providing quality products and services to people in their community. Wal-Mart and Target implement environmental scanning to help them rise above their competitors. Wal-Mart and Target identifies the need for change is the environmental scanning tool. Environmental scanning helps corporations determine the status of internal and external factors of the business. 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).
Some internal factors of Wal-Mart and Target focus on tangible and intangible resources, such as financial resources, organizational resources, technology, management, marketing, manufacturing, and consumers. Some external factors of Wal-Mart and Target focus on the economy, socio-cultural, Global, politics, demographics, and unforeseen events. Wal-Mart competitive advantage consist of providing affordable prices, provide a
References: adina, R. (2011). Methods of identification of the need for organizational change as being opportune. Annals of the University Of Oradea, Economic Science Series, 20(2), 707-712. Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. Wal-Mart: An Analysis, 2008. Retrieved from http://voices.yahoo.com/walmart-analysis-1743207.html?cat=3 Target, (2007). Overview. Retrieved from http://sites.target.com/site/en/corporate/page.jsp?contentId=PRD03-004361 Dinnocenzio, A., & Fredrix, E. (2009, May 27). Target goes back to basics to woo walmart shoppers. Orlando Sentinel, pp. B.8. http://search.proquest.com/docview/284234698?accountid=35812