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Environmental Analysis Assignment
Environmental Analysis Essay
Environmental analysis is the first stage of strategic management. It entails monitoring, analyzing, and distributing information from external and internal surroundings to key parties in the company, such as stakeholders. The firm evaluates the internal environment to identify its strengths and opportunities and the external environment to highlight its weaknesses and threats. An environmental scan also focuses on examining the political, technological, and economic forces affecting the organization. The company uses the information derived from the analysis to establish competitive edges and align them with its strategic plans. The following essay will explore the internal, external, and operating environment of Country Inn & Suites by Radisson and the industry in which it operates to determine how the organization can create and sustain value and competitive advantages.
Environmental Scanning and Creating and Sustaining Value and Competitive Advantages
Every firm operates in both external and internal surroundings. While the surroundings have a significant impact on the organization, the company has a minimal impact on the environment. Hence, the best thing for the corporation to do is to continuously scan the environment for strengths, opportunities, threats, and weaknesses. The strengths of the organization are utilized to sustain competitive advantages and create value. Competitive advantage/competitive edge refers to the capability to do certain activities or things better than one’s rivals. In essence, delivering value to consumers sets the company apart from its competitors (Hitt, Ireland & Hoskisson, 2015). For instance, Apple provides the best products in the market, which translate to better value for its customers, and so does Nike with premium quality products sourced from cheap overseas labor. Additionally, the company must strive to establish sustainable growth and development by doing things for the long-run. In today’s economy, consumers desire creative commodities that express their unique identity, provide .................GET A PLAGIARISM FREE COPY