The gathered information is provided to key managers on the organization and used to direct management in future plans. It is also used to evaluate an organization's strengths and weaknesses in response to external threats and opportunities. In essence, environmental scanning is a process to identify, collect, and transmit information about external factors to be converted into plans and decisions.
The human resource management concept leads to improvement on a whole basis. Human resource management is a wide and significant concept that allows organizations to execute business procedures to be at its best. It is necessary that proper balance be formed in order to allow organization to grow and expand at a continuous manner. This means a lot from the perspective of seeing to it that the control is likely to be formed upon one or the other relevant areas as well. Primarily, human resource management aims upon raising the effectiveness and involvement of employees just as to make goals and objectives achievable and attainable.
Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment.
The ability of management to collect both internal and external information and use the analysis to respond to emerging patterns and trends in the target market is critical to the company’s competitiveness. As an ongoing process, environmental scanning is used by management to investigate the interdependency of the various sectors of the target market and their respective patterns and trends. The results of the environmental scan should translate into the company’s guidelines for planning and decision-making. In comparing the environmental scans of the United States and that of Zambia, it was found that monitoring and understanding the target market’s dynamics in the legal system, crime situation, international membership focus, and economic environment is essential in the formulation of management’s response strategy. Economic and Environmental Scanning Before conducting business in another country management collects information on different macroeconomic indicators, environmental issues, legal processes, political trends, and patterns of events that may have a bearing on the company.
The prospects of Luton as an investment location can then be considered and evaluated. There are many factors and variables that determine the ability of a company to operate internationally by shaping the market and climate in which it operates. Organisations wishing to operate internationally must therefore carry out a detailed scan of the business environment, they will then be able to identify the nature of its markets, competition and resources available to it. In Luton the environment may be scanned most effectively with a PEST analysis to identify key threats and opportunities. The political environment in Luton and the United Kingdom as a whole will have an enormous effect on any operations of The Luton Development Agency and any foreign firms who wish to operate within Luton.
As shown in the simulation, “Thinking Strategically”, environmental scanning also allows the opportunity for a company to promote vision and direction for all stakeholders. The information gathered as a result of environmental scanning, also provides the company with future trends data and can warn company officials of the declining of trends on the horizon. The simulation also displayed the SWOT analysis as an effective tool of relative importance and effectiveness within environmental scanning. An analysis of strengths and weaknesses is obtained through internal sources, whereas, opportunities and threats information is obtained externally. In identifying the strengths, weaknesses, opportunities, and threats all these factors are critical for the strategy.
It is difficult to determine whether offshore outsourcing has a positive or negative effect on the U.S. economy. It may actually depend on which perspective you take on it. As stated by Hira and Hira (2005), outsourcing in the services sector is a major shift in how the economy operates and will have serious impacts, both positive and negative, on the trajectory of economic growth, distribution of income and the workforce. However, there are many factors to take into account when considering globalization. Companies must familiarize themselves with the various rules and regulations of global business, tariffs, trade agreements and barriers, and decide how to go global; global consistency or local adaptation.
SWOT analysis is a way to receive all kind of the information from the external and internal environmental issues of a particular organization. It shows up a difference what could the business lead to improvements in a particular based analysis, what it will show up in future and the difficulties it will face. It is a technique used to help the marketing department. Strengths – This factor is the capabilities that can be performed in a business to increase in productivity and sales, It shows up what a firm is capable of and what it is not likewise:- - Effective sales and marketing - Strong leadership - Political Support - Good reputation - Qualified Research and development - Economies of scale Weaknesses – This factor shows in what condition and situation the businesses are weak, what the business will launch in further and what will be its side effects, the absence of certain strengths can be viewed as a weakness. Likewise:- - Lack of trained faculty - Poor quality - Focusing into mega products - Many competitors at similar production - Weak Image / Reputation - Low investment in infrastructure Opportunity – This factor concludes all the chances that a business has to expand its business or expand its sale... ... middle of paper ... ...the similar product or replicated over changes.
A challenge of using decision analysis procedures to make environmental decisions is that they tend to oversimplify a complex problem. The project’s or problem’s impact on the environment doesn’t just produce an economic impact but also a political and social impact. Environmental projects affect a large population of people, “stakeholders” and the environment itself, which need to be taken into consideration when making a decision. Cost Benefit Analysis Cost benefit analysis (CBA) has frequently been used in the field of environmental decision making. It is necessary for environmental analysis to evolve and become more sophisticated, due to the challenges presented by environmental decisions.
It is important to find the right balance between listening and doing. Application of transformational leadership to motivate and empower staff Transformational leadership is an appropriate leadership style to motivate and empower staff as it encompasses charisma, inspiring employees, challenging employees and allowing employees to achieve their long-term goals in a personalised manner. It is one of the most inspiring leadership styles. These leaders facilitate conversations between major stakeholders of the organisation. Should any problems arise in an organisation with transformational leadership, I believe that it will be dealt with swiftly and in a manner beneficial to everyone.