Assignment 2 External Environmental Scan In order to develop effective strategies it is critical to understand the marketplace environment In september 2023
M2A2 Capstone.
Assignment 2: External Environmental Scan In order to develop effective strategies, it is critical to understand the marketplace environment. In this assignment, you will explore the relationship between marketplace positioning based on environmental factors. Throughout this course, you will work on a strategy audit for a selected organization. In Module 1 , you selected an organization for your course project activities and completed a market position analysis for your organization. In this module, you will conduct a comprehensive external environmental scan of your business unit, including a five forces analysis, to identify the relevant trends that pose opportunities or threats to your business. These will serve as inputs for a final strengths, weaknesses, opportunities, and threats (SWOT) analysis that will be due in Module 4: Assignment 2 . There are many elements that can go into an environmental scan, and your analysis will depend on the nature of your business unit, product portfolio, target market, and other factors related to the scope of your business. Your environmental scan should include some or all of the following elements: Economic factors and trends Political factors and trends Regulatory and legal factors and trends Societal factors and trends Technological factors and trends Geographic factors and trends Porter’s five forces that consists of the following aspects: Threat of new competition Threat of substitute products or services Bargaining power of customers (buyers) Bargaining power of suppliers Intensity of competitive/industry rivalry Although your analysis will be tailored to your specific business, be sure to cover the following: A thorough five forces analysis of your industry The key factors and trends in any other areas affecting your industry A preliminary classification of the external factors and trends as either opportunities or threats which will be the inputs for the final SWOT analysis Write a 3-page report in Word format. Apply APA standards to citation of sources. Use the following file naming convention: LastnameFirstInitial_M2_A2.doc. Assignment 2 Grading Criteria Maximum Points Conduct a five forces analysis of your industry. 32 Summarize the key factors and trends in any other areas affecting your industry. 28 Create a preliminary classification of the external factors and trends as either opportunities or threats (inputs into a SWOT analysis). 24 Write using ethical scholarship and proper grammar and mechanics. 16 Total: 100 Required Readings Efendioglu, A., & Karabulut, A. (2010). Impact of strategic planning on financial performance of companies in Turkey. International Journal of Business and Management, 5 (4), 3–12. (ProQuest Document ID: 821297217) http://search.proquest.com.libproxy.edmc.edu/docview/821297217 /abstract?source=fedsrch&accountid=34899 Heiba, F. (2011). Future global marketing negotiations: A strategic scenario. International Journal of Business and Social Science, 2 (4). (ProQuest Document ID: 904523887) http://search.proquest.com.libproxy.edmc.edu/docview/904523887/ abstract?source=fedsrch&accountid=34899 Porter, M. (1996). What is strategy? Harvard Business Review 74 (6), 61–68. (EBSCO AN: 9611187954) http://libproxy.edmc.edu/login?url=http://search.ebscohost.com/ login.aspx?direct=true&db=bsh&AN=9611187954&site=ehost-live Schmelz, D. R., Ramsey, R. P., & Gassenheimer, J. B. (2011). Bleu Ribbon Chocolates: How can small businesses adapt to a changing environment? Marketing Education Review , 21 (2), 177–182. doi:10.2753/MER1052-8008210207 (EBSCO AN: 63968062) http://libproxy.edmc.edu/login?url=http://search.ebscohost.com/ login.aspx?direct=true&db=bsh&AN=63968062&site=ehost-live Recommended Readings Deverell, E., & Olsson, E. (2010). Organizational culture effects on strategy and adaptability in crisis management. Risk Management, 12 (2), 116–134. doi: 10.1057/rm.2009.18 (ProQuest Document ID: 232626553) http://search.proquest.com.libproxy.edmc.edu/docview/232626553?accountid=34899 Jüttner, U., Martin, C., & Godsell, J. (2010). A strategic framework for integrating marketing and supply chain strategies. International Journal of Logistics Management, 21 (1), 104–126. doi: 10.1108/09574091011042205 (ProQuest Document ID: 367098166) http://search.proquest.com.libproxy.edmc.edu/docview/367098166?accountid=34899 Peterson, M., Gröne, F., Kammer, K., & Kirscheneder, J. (2010). Multi-channel customer management: Delighting consumers, driving efficiency. Journal of Direct, Data and Digital Marketing Practice, 12 (1), 10–15. doi: 10.1057/dddmp.2010.16. (ProQuest Document ID: 740324599) http://search.proquest.com.libproxy.edmc.edu/docview/740324599?accountid=34899 Raja, I. S., & Raja, M. S. (2010). Managing technological innovation: China’s strategy and challenges. Journal of Technology Management in China, 5 (3), 213–226. doi: 10.1108/17468771011086238 (ProQuest Document ID:757059093) http://search.proquest.com.libproxy.edmc.edu/docview/757059093/ abstract?source=fedsrch&accountid=34899 Tomomi, T. (2010). Environmental management strategy for small and medium-sized enterprises: Why do SMBs practice environmental management? Asian Business & Management, 9 (2), 265–280. doi: 10.1057/abm.2010.6 (ProQuest Document ID
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