Description
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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.
- 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?
Resources
Suggested Resources
The following optional resources are provided to support you in completing the assessment or to provide a helpful context.- Nelson, E., Loomis, H., & Bergdorf, G. (2012). Tri-Mode Systems: Continuity issues in a lifestyle business case study. Journal of Management Policy and Practice, 13(1), 26–38.
- Banham, H. C. (2010). External environmental analysis for small and medium enterprises (SMEs). Journal of Business & Economics Research, 8(10), 19–26.
- McEwen, T. (2008). Environmental scanning and organizational learning in entrepreneurial ventures. Entrepreneurial Executive, 13, 1–16.
- Pearce, J. A., & Robinson, R. B. (2013). Strategic management (13th ed.). New York, NY: McGraw Hill.
Assessment Instructions
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.- Conduct an environmental scan in which you focus on both the internal and external factors that could affect your success within your chosen industry. Include in your scan responses to the following. Be sure to use the information from your SWOT analysis to explain how you will address both the internal and external issues.
- Internal Factors: What specific things do you need to do in order to achieve the position you would like to have? In other words, what do you need to do to climb the corporate ladder in your industry?
- External Factors: Examine the state of the current market or industry. What issues currently exist? How might these issues influence the future state of the industry? How will these issues affect your long-term and short-term goals?
Environmental Scan Scoring Guide
| CRITERIA | DISTINGUISHED | |||
|---|---|---|---|---|
| Write coherently to support a central idea in appropriate format with correct grammar, usage, and mechanics. | Writing is coherent, using evidence to support a central idea in a consistently appropriate format with correct grammar, usage, and mechanics. | |||
| Explain internal factors that may affect future success. | Analyzes internal factors to determine the affect of future success. | |||
| Explain external factors that may affect future success. | Analyzes external factors to determine the affect of future success. | |||
| Use SWOT analysis to explain strategies for addressing internal factors. | Uses SWOT analysis to evaluate strategies for addressing internal factors. | |||
| Use SWOT analysis to explain strategies for addressing external factors. | Uses SWOT analysis to evaluate strategies for addressing external factors. |
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
Running head: INTERNAL AND EXTERNAL FACTORS
Internal and External Factors
Student’s Name
Institutional Affiliation
1
INTERNAL AND EXTERNAL FACTORS
2
Internal and External Factors
Internal Factors
The internal factors affecting future success are directly connected to a person’s or
organization’s performance. The changes in the company culture are the internal factors in the
industry (Pearce & Robinson, 2013). The culture of how things are done result into the use of
specific practices. Thus, in case of changes, workers are expected to learn about the practices
they need to perform. Hence, as an employee, it would be difficult to achieve future career goals
and objectives if the company culture keeps adjusting. The other internal challenge is the lack of
finances. If I do not have the access to the required funds, it will be difficult to start a not-forprofit organization to help the less fortunate. Thus, culture changes and lack of finances are the
internal factors that might affect future success.
External Factors
The environmental factors are the external considerations affecting the future success of
a business or an individual. The environmental factors affecting my future success is the
availability of several individuals with my qualifications. Other personnel in the industry with
similar qualifications might provide the company with the skills required to succeed. More so,
there are technological advances in the current business industry. The changes require
individuals to have significant knowledge on the use of technology such as social media
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