General Environment Assessment, management homework help

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General Environment Assessment, management homework help

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General Environment Assessment

Industry Operating Environment Evaluation



Strategic Plan, Part 1: Environmental Scan

Students will perform an environmental scan for your target company. 

Choose an organization according to the following: (NETFLIX)

  • Current employer
  • Most recent or former employer
  • Place of business that you have patronized or have been familiar with over a long period of time. 
    • Avoid choosing an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000® index may fit well, whereas firms in the Dow 30 Industrial index probably do not. 
  • The organization can be a start-up that you or a significant other may create in the future. For a start-up, focus on an entrepreneurial idea that is of substantive interest, so this project leaves you with a product you may leverage in the future.

Writea 1,050-word minimum environmental analysis in which you include the following: 

  • Determine how to create value and sustain competitive advantage using the environmental scanning strategy.
  • Evaluate the company’s external environment.
  • Assess the company’s general environment.
  • Evaluate the organization’s industry operating environment.

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1 Strategic Plan, Part 1: Environmental Scan STR/581 September 26, 2016 2 Strategic Plan, Part 1: Environmental Scan When thinking of a movie streaming service, the first name that comes to mind is Netflix. Netflix was founded in 1997 by Reed Hastings and Marc Randolph after dealing with ridiculous $40 late fee imposed by Blockbuster. Netflix initially started out by providing unlimited DVD rental services online using a monthly subscription model in 1999, then expanded their services to streaming in 2007. Using streaming software to instantly watch content from Netflix through any Internet-connected device, Netflix provides viewers with the flexible capability to watch shows via the Netflix app or website on their computer. Netflix is the world’s leading Internet television network with over 83 million members in over 190 countries enjoying more than 125 million hours of TV shows and movies per day, including original series, documentaries and feature films (Netflix, 2016). With a flourishing company like Netflix, it is imperative to have a strategic management process that will help them succeed in developing strategic competitiveness and earn aboveaverage returns (Hitt, Ireland, & Hoskission, 2015). By conducting an environmental scan and analyzing the results, vital information can be gained that will provide direction in developing company goals and strategies; thus, increasing their competitive advantage. Environmental Scanning Strategy Environmental scanning has been used by organizations for many years due to it being a key functioning invaluable tool when managers actively scan their external environment. Environmental scanning involves an assessment of external influences, such as trends, events, or relationships that directly affect the organization’s future course of action (Albright, 2004). When management conducts environmental scanning, they increase their knowledge based on the information gathered from their industry such as competitor, consumer, and stakeholders. 3 During an environmental scan, companies gain a better understanding of the opportunities and threats that they face or may face. They can make educated decisions once issues have been identified that take advantage of those opportunities and adjust their planning initiatives to secure or improve their position in the market. The response to the external influences can determine the success or failure of an organization. An opportunity, “if exploited effectively, helps a company reach strategic competitiveness” (Hitt, Ireland, & Hoskisson, 2015). Due to quick advancement of today’s technology, invironmental scanning helps keep companies from falling behind and not keeping up with demand to technology, regulations, and rising trends. As external forces are identified, organizations have the opportunity to examine their options in response to the challenge and consider their internal strengths and weaknesses to respond to these challenges (Albright, 2004). For instance, Netflix’s strategy would initiate the collection of streaming habits, search terms, demographics, and membership type data. Online tracking is easy and provides vital information to Netflix and allows the company to determine what movies or shows to add to their library and what to use as promotional material. External Environment Evaluation There are several external factors that can impact Netflix such as social, technological, economic, and industry. Any influences to any of these categories can take a negative effect on the company. The most significant focus should be on the customers and competitors and their relationships. Social factors can have an impact when trying to meet consumer needs and attracting new customers. Netflix needs to consider promotional campaigns that will draw in potential members by offering new features and pricing tiers that are more enticing than that of the competitors. 4 Technological factors involve proprietary and third party usage and operations. The nature of Netflix’s livelihood depends on the reliability of non-stop streaming and thus, any failure in systems or service interruptions or slow down can prove detrimental to the business. Depending on the severity and the turn-around in bringing the services back to full use, it can cause consumer backlash and bad publicity against the company’s reputation. Security falls under this category as it deals with technology breeches of consumer information as well as the use of consumer data that is collected upon member registration and type of streaming. The economic factors affect the company’s growth since the nation’s stability plays a significant role in Netflix’s success; i.e., unemployment, inflation. The economy is indicative of the volume or demand the business should anticipate, thus equal a greater demand depending on growth or decline. If the economy is in a decline with resulting unemployment rates increasing, consumers will not be able to spend money on anything other than necessities; thus, negatively effecting the market and the company if not prepared. General Environment Assessment Industry Operating Environment Evaluation Conclusion 5 Reference Albright, K. S. (2004). ENVIRONMENTAL SCANNING: RADAR FOR SUCCESS.Information Management Journal, 38(3), 38-45. Retrieved from Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic Management: Concepts and Cases: Competitiveness and Globalization (11th ed.). Stamford, CT: Cengage. Netflix. (2016). About Netflix. Retrieved from
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