Description
Follow the instructions based on decision to complete the Strategic Plan or Alternative Capstone Project:
Strategic Plan, Part 1: Environmental Scan
You will perform an environmental scan for your target company. (I have chosen Tesla Electric Car Company)
Choose an organization according to the following:
- Place of business that you have patronized or have been familiar with over a long period of time.(I have chosen Tesla Electric Car Company)
- Avoid choosing an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000® index may fit well, whereas firms in the Dow 30 Industrial index probably do not.
- The organization can be a start-up that you or a significant other may create in the future. For a start-up, focus on an entrepreneurial idea that is of substantive interest, so this project leaves you with a product you may leverage in the future.
Write a 1,050-word minimum environmental analysis in which you include the following:
- Determine how to create value and sustain competitive advantage using the environmental scanning strategy.
- Evaluate the company's external environment.
- Assess the company's general environment.
- Evaluate the organization's industry operating environment.
Format your paper according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
PLEASE MAKE SURE THE ANSWER IS PLAGIARISM FREE AND MAKE SURE TO INCLUDE ALL REFERENCE AND CITATION TO SUPPORT WORK AND PREFERABLY BE ABLE TO VERTIFY FROM VALID ONLINE SOURCES. THANKS
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Explanation & Answer
Attached.
Running Head: ENVIRONMENTAL SCAN
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Environmental Scan
Institution Affiliation
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ENVIRONMENTAL SCAN
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Tesla Electric Car Company sought to enhance the transition to sustainable energy by
designing electric vehicles that would be better and more effective in the environment as
opposed to gasoline cars. The company aimed to deliver cars to the public with incredible power
and no gas emissions. Although the firm has been able to deliver its goals and objectives it has to
create value and maintains its competitive advantage. As such, Tesla has to use the
environmental scanning strategy to sustain its competitive advantage in the auto industry and
create value. This paper will describe Tesla’s external environment, the general environment,
and industry operating environment.
It is imperative to understand that an organization can create value by incorporating the
environmental scanning strategy into the general strategic plan. The environmental scanning
should part of the business objectives. In turn, the company can identify its external, general and
operating environments through scanning. Furthermore, scanning generates new ideas regarding
the firm’s environment. This allows for a company to be updated on what factors can affect its
successful operations.
Also, scanning provides an opportunity for the company to establish new ideas that can
be of assistance in achieving business goals (Pride, Ferrell, Lukas, Niininen and Schembri,
2015). Moreover, having knowledge of the environment allows the company to implement the
ideas discovered during scanning to move towards effectiveness. Therefore, by implementing the
new ideas, the company is already incorporating the scanning strategy into its strategic ...