Homework Lance
Grand Canyon University
Environmental Scan
In today’s society, everyone tries to keep up with the Jones’s. People always want what they don’t have and end up having with they don’t want. When thinking and dealing with the different products that companies supply to the world, they have to do lots of research. Not only do they want to make sure that their product will sell, but they need to know what kind of competition they are going to have and what potential threats there are to their product of choice. Companies and industries want to make sure that their future is set and that the money, time, and effort has a positive effect on the environment in which they are going to be working and dwelling in. They also need to make sure that they are able to make a stable profit and be able to retain workers in order to keep their profits high and their payout low.
When companies hire people to ensure that their product will thrive on the market they have to make sure that the people they hire do a full environmental scan. The environmental scan makes reference to observing the institutes surrounding environment. This environment consist of the macro and the micro aspects. Legal, social, economic and cultural make up the macro environment. In contrast, the marketer is within the control of the micro environment. The economic environment refers to the economic system, economic regulation system, international environment, conditions, policies, and so on.
All these components impact a marketer in captivating or coming to a decision. If for any reason there are any major or minor adjustments in the economic environment, for example: standard of living, advancement in the purchasing power, etc. will affect the charges and scope of the market to a pronounced extent. Let’s take the business cycle. The business cycle is also another phase of the economic condition as the cycle of a business is and will always and forever be influenced by the stages of the economy which are boom, descending, recession and recovery. Hence, the up-to-date state of the economy will impact completing a marketing environmental scan.
So dealing with all these different aspects of life there is little room for error. When dealing with environmental scanning, you have to not only know the area, the types of people, but the different laws that are associated with everything involved I what you are trying to produce or give back to the general population. If you are to expand and go global there are many different things that you have to be able to work with in order to keep things legal, safe, and still able to make a profit. Completing an environmental scan is not only essential to every aspect for a product or company, it is a need within a society to continue to have things properly function and to keep proper order and discipline in the economy as we [Avoid second person such as you, us, we and our, and instead use the appropriate noun such as students, citizens, managers, etc.] know it. Good ideas, but too brief L
Reference Page[Please review APA and correct format in future papers]
Strategic Planning: What are the basics of environmental scanning?, November 11 2012 http://www.shrm.org/templatestools/hrqa/pages/cms_021670.aspx
Environmental scanning as information seeking and organizational learning
Information Research, Vol. 7 No.1, October 2001 , Chun Wei Choo, Faculty of Information Studies, University of Toronto, Toronto, Canada http://www.informationr.net/ir/7-1/paper112.html
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