I guess for me I am struggling with how to forecast and predict what is important enough to know what criteria is relevant information to use for the success of my organization. Since I only work in one area of the whole organization how do you predict when you are not privy to important information to know what direction to go in. I am hoping to learn how to think way outside the box and be able to see the bigger picture. One question I do have though will the company be as successful if I only concentrate on the success of the area I work in? I get how strategic management can be beneficial to an organization, and I get how ethics should play a role as well. I see the way people have done wrong actions in a company is almost like having cancer in your organization. It can slowly take over or be swift and destroy a organization. I see both issues in my work place. People riding the cuff of what is wrong behavior and out right breaking the rules. All of that behavior disrupts the goal of the organization to run effectively and efficiently. Looking forward to further discussions. After completing the assignments and reading the objectives I think I am comfortable talking about environmental scan both internal and external and how it is different from a SWOT analysis. Environmental scanning is made up of observation, reviewing, and ultimately circulating the data gathered from external and internal environments based on the decisions made by the staff of the organization.
This process is applied by the organization in the case of a worst case scenario; it allows an organization to carefully take care of conflicts compared to struggling to salvage a situation which is causing financial setbacks for the organization. In regards to discussing the external factors of an organization and why they should be reviewed as part of the internal environmental scan, below are some reasons why this should happen. 1. Economic forces: Regulates the transferring of materials, money, energy, and information (Wheelen & Hunger, 2010, p. 99). 2. Technological forces: Is what generates problem-solving inventions (Wheelen & Hunger, 2010, p. 99). 3. Political–legal forces: Is what allocates power and provides constraining and protecting laws and regulations (Wheelen & Hunger, 2010, p. 99). 4. Sociocultural forces: Is what regulates the values, mores, and customs of society (Wheelen & Hunger, 2010, p. 99).
In regards to discussing some of the internal considerations of an organization and why the organization should evaluate them as part of the internal environmental scan, the following are some reason: 1. Value: Is when it provides customers value and competitive advantage (Wheelen & Hunger, 2010, p. 138). 2. Rareness: Is when other competitors possess it (Wheelen & Hunger, 2010, p. 138). 3. Imitability: Is when it becomes costly for others to imitate (Wheelen & Hunger, 2010, p. 138). 4. Organization: Is when the organization utilizing the resource to its advantage (Wheelen & Hunger, 2010, p. 138). There is a difference from Environmental scan and a traditional SWOT due to the environmental scan gathering data while the SWOT is more involved with gathering information and research to establish an ultimate plan.
In last week’s class I got a better understanding of the 4 phases of strategic management which are basic financial planning, forecast-based planning, externally oriented strategic planning and strategic management. By emphasizing what strategic management actually means to an organization I was able to get a more in depth concept of the benefits such as how performance can be improved by providing organizational learning tactics understanding the strategic vision of the organization. I can actually relate to this because I have recently completed my green belt lean six sigma which allows me to be part of working groups that have been task to identify gaps and improve business processes and practices in various area in the logistics directorate in which I work. By being part of a working group at work and also being in this strategic management class I truly believe that this will increase my development in the area of strategic thinking to be an impact player in my organization. I look forward to these next few weeks.
Wheelen, T.L., & Hunger, J.D. (2010). Concepts in Strategic Management and Business Policy (12th ed.). Retrieved from University of Phoenix eBook