In today’s business world, applying concepts and implementing innovative and long-term strategies to ensure growth play vital role in organizational success. One important concept to consider is the environmental scanning, involves three different environments, such as remote or global operational environment, the industry in which companies compete, and the internal environment within the companies. Environmental scanning looks into such concepts as social, environmental, economic, technological, competitors, suppliers, and capabilities, all allow the companies to collect data and identify forces and trends relevant to the current market conditions.
In its research of three companies, Team B collected information on how external factors influence companies’ choices of direction and action, as well as the organizational structure. The factors included the two out of three components of external environment, such as remote and industry environment. In order for the three chosen companies to establish a strategic agenda the management must understand how the environmental factors work in the industry and their affect on the companies. This paper will further go into detail on how these forces operate within the companies’ frameworks, as well as analyze the ways for companies to take advantage of opportunities that they create.
Company Synopses and Key Concepts
During the late 1980’s and into the early 1990’s the US Government realized they were facing a drastic loss of its Information Technology workforce to the competition as technology industries boomed and wages surpassed what the government could afford to pay. The US Government began losing its most valuable resource to the competition because salaries could not match or keep up with the competition. The mentioned economic force was not equipment or sales, in this instance, but the investment they had made to train and educate the staff, both civilian and military. Thus, the effects of nature and degree of...