Environmental Scanning
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Environmental Scanning
Jamelia Harper-McGee
12/24/12
James Powell
Environmental Scanning
Environmental scanning is what organizations use to help in determining the factors that will influence success. Environmental scanning is the internal and external analysis of the environment of an organization. Doing this analysis helps to identify the threats and possibilities that exist in the environment. Internal analysis is the first step and includes employee interaction with other employees and management as well as managers interaction with other managers and with shareholders. Interviews, discussions and surveys can all be used to assess the internal environment. External analysis
Strengths
Target Corporation is one of the leading retail industries in the US and second-largest retailer. Some of Targets strengths are to anticipate the needs of the customers and its ability to provide innovative and high quality products that keep their customers loyal. Quality happens to be their biggest internal strength. They arent the cheapest but quality is better than quantity. Target Corp. technology caters to the global marketing management trends. Target also possesses a strong environmental commitment. The company imposed an environmental management system which includes proactive planning, sustainable development, community consultation, compliance and auditing for continuous development. Target Corporation focuses on great guest service, getting more for your money (REDcard), celebrating diversity and inclusion and giving to their community.
Weaknesses
Target Corporations demographic focus is only on America, so they miss out on the opportunities of expansion. Their focus on quality makes the product more expensive than the competition (WalMart). Target does not provide attractive wages to the employees: insurances and certifications regarding labors are missing. Targets management has the inability to anticipate price increases and this affects operations. The company faces unsolved issues due to lack of strategic decision making in areas of human resources.
Opportunities
Target Corporation still has an opportunity to dominate and catch up with competition in the American retail industry when it comes to providing more quality with a cheaper price. If the company decides to go global at some point, it would help with their expansion. Loyalty from their customers can be gained with continued innovation and support. There is an opportunity in bettering the future of their team members.
Threats
Targets competition includes stores such as Kmart and WalMart because both of them share the same place service and similar product range. Nowadays consumers are not necessarily looking for quality, their looking for a lower price. If Target continues on as a vertically integrated corporation, it may fail in terms of management ability.
Strengths