Environment Scanning

Case Study

The case study involves a company known as the (Being the Best) which tries to be the best through scanning its external environment. Environmental scanning is a process which a business organization analyzes and collects information concerning events which relate to its external and internal environments. The primary objective of environmental scanning is to help the business organization to determine the direction and future of the organization (Voiculet et.al, 2010).  There are various cases of environmental scanning such as competition and technology. For instance, Being the Best company has faced economic challenges which have usually forced the company to consider its strategic options.

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Environment scanning has played a significant role in the evolution of the Best company through analyzing process which relates to its external environment. These processes are very crucial for the growth of a business. Additionally, understanding external environments such as competition and technology assist the company to cope with threats which affect its growth, expansion and marketing activities.

 The company has used five competitive approaches to ensure that all operation, processes, plans, objective and goals go are achieved. Schulze spent the whole company budget towards advertising ample parking of sale. Success in sales motivated and taught him the significance of wider selection, strong advertising and lowering the prices. The changes facilitated fast growth and popularity of the VCRs leading to the rapid growth. Schulze realized the need to use technology which is among factors under the external environment. Technology affects business progress and also defines its growth rate(Voiculet et.al, 2010). Therefore, Schulze introduced the warehouse stores where customers would wherever they needed to do so.  

The company passed through evolutional changes because digital electronics started to flood in the market.  Therefore, Dunn should focus towards the five environmental sections to come up with reliable information which can help the company to overcome the growing online competition from companies like Amazon which are dooming their chain stores.  Therefore, Dunn must scan risks which are facing the company and consider appropriate strategic moves and how to cope or overcome them.  Some of these risks facing Best Buys are uncertain economic conditions, low consumer confidence, and a shaky global economy (Voiculet et.al, 2010). Thus, Dun should consider to reduce the opening of the new stores and lay off some employees to reduce costs rate and unnecessary stores which are not bringing income to the company. 

The Best Buys company have made its expansions internationally for instance in countries like Canada, Europe, and China.   Therefore, the company requires information regarding business risks associated due to other competitors, technology and marketing. The company should be able to apply marketing strategies necessary to convince new customers and to show the benefits based on their products.  The company must also be able to ensure that all these stores are set in an effective way which ensures that their clients can do their browsing conveniently to avoid inconveniences which might break the confidence of their customers. Dun indicated that Best Buy store visits have been increasing from 2011. Expansion of warehouse stores internationally created a need to increase the number of employees. The company revenue has also begun increasing since more customers have been showing up all over the warehouse stores. 

Reference

Voiculet, A., Belu, N., Parpandel, D. E., & Rizea, I. C. (2010). The impact of external environment on organizational development strategy.

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