Strategic Planning and Environmental Scanning
Discuss the elements of strategic management and explain why it is crucial to an organization’s survival. Excluding the examples from the textbook, give an example of a company that failed as a result of poor strategic management. Explain the difference between a strategy and a business model.
Prior to entering this discussion, review section 4 of the Environmental-Trend Analysis in the Abraham’s textbook.
As you have learned in this week’s readings, many businesses exist in dynamic markets that pose unique economic, political, and technological challenges. Select a medium- to large-sized, publicly traded corporation that currently exists in a challenging business environment. Refer to the seven common categories of trend analysis as laid out in your textbook: Economic, regulatory/legislative, political, demographic, sociocultural, attitude/lifestyle, and technological. Research the company online by accessing the Library online database which offers company financials, descriptions, history, property , subsidiaries, officers and directors. Also, access the Business Insights: University Library online database which offers information on global companies and industries. It includes environment analysis, market share data, financial reports, case studies, business news, and company comparison charts. (View the Mergent tipsheet and Business Insights tipsheet documents for suggested methods of searching Library databases generally, as well as specific advice for searching these two databases). You can always conduct research using credible online sources of corporate financial information, just be sure that wherever you obtain financial information that you cite your source.
Choose one of the seven categories to use as a basis of analysis for this discussion. Ensure that the time frame is now and that the challenges are continuing.
• Provide a general description of the publicly traded company you chose.
• Describe the challenges facing the company in the chosen category of analysis.
• Assess its current performance in your chosen category of analysis.
• Forecast its projected performance in your chosen category of analysis.
• Evaluate impending opportunities or challenges that result from your environmental scan.