Reference no: EM132393025
Assignment: Overview: Conduct an environmental scan and write an assessment in which you focus on both the internal and external factors that could affect your success within your chosen industry.
Note: Developing a strategic plan requires specific steps that need to be executed in a sequence. The assessments in this course are presented in order and should be completed in sequence.
An environmental scan allows you to identify the trends (technical, social, political, economic, and so on), issues, and other factors that are most likely to affect a given industry, thereby helping you determine a strategy for dealing with potential changes.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies:
1. Competency 3: Communicate effectively.
• Write coherently to support a central idea in appropriate format with correct grammar, usage, and mechanics.
2. Competency 4: Plan strategically.
• Describe strategies to use SWOT analysis to improve competitive advantage.
3. Competency 5: Employ high-performance business management techniques.
• Analyze strengths to determine competitive advantages.
• Analyze opportunities that may be leveraged for competitive advantage.
• Analyze threats to competitive advantage.
4. Competency 6: Solve problems within professional standards.
• Analyze weaknesses to determine areas for improvement.
Context
After an organization has completed a SWOT analysis, it will carefully monitor both the internal and external environments to detect signs of opportunities and threats that could affect current and future plans. This environmental scanning can help an organization identify trends that are most likely to affect the industry, thereby allowing the development of a strategy for change. The right information, at the right time, can determine the future of an organization.
Questions to consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
• How does an organization address what seems to be happening, what is really happening, and what might happen?
Suggested Resources
The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.
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