F01.justanswer.com



Environmental Scanning

Environmental Scanning

According to "Strategic Planning: What are the Basics of Environmental Scanning?" (2016),”Environmental scanning is a process that systematically surveys and interprets relevant data to identify external opportunities and threats” (para. 1). This report will evaluate the internal and external environments of your selected company using an environmental scan, analyze the competitive advantage and strategies used to create value and gain competitive advantage. As well as examine the measurement guidelines to verify strategic effectiveness and the effectiveness of those guidelines.

Internal and External Environments

According to Atkeson & Ohanian (2001), the United States Federal Reserve aims to calculate inflation for the country of the United States based on something called the Phillips curves. These Phillips curves are analyzed to calculate on a monthly basis the fluctuations in the market and how this affects the rate of inflation for the entire country of the United States.

The research of Atkeson & Ohanian (2001), did not predict the financial crisis that would hit the United States in 2010 or the years surrounding it. Many Americans lost their homes and their jobs due to companies shutting down because of the fiscal disaster during that time. The financial markets surrounding that time period was so dismal that even President Barack Obama had to step in and bail out the top banks in the world. All of these internal factors put the United States Federal Reserve in a constant state of flux during this period and the Phillips curve was at an extremely high due to rate the high inflation rate at that period in the United States.

Some of the external factors that are present with the United States Federal Reserve are the business it does with other countries such as Latin America and Japan. In 1993, Latin America began benefiting greatly from a higher exchange rate with the American dollar, as well as increased capital flow within the continent due to its business relationship with the United States Federal Reserve. In comparison, there was an unfortunate financial crisis in Japan which greatly affected the United States Federal Reserve’s markets globally and its external environment. The external environment of the United States Federal Reserve has done much to reach out to the young people of America to educate them about the importance of financial matters which has created a positive external environment of more financial awareness among young people in America. The efforts of the United States Federal Reserve to educate young people towards financial matters is spreading throughout the world. Other countries such as Canada, parts of Europe, Australia and China are also following the lead of the United States Federal Reserve to educate their young people towards the value of money and how to best use it in their lives which shows a positive external role that the United States Federal Reserve is taking on (Johnson & Sherraden, 2007).

Competitive Advantage

According to Blinder (1996), the United States Dollar (USD) does have its dips and falls on the international market. However, its competitive advantage on the international market tends to remain consistent and stable over many decades since the 20th century of the world, as well as after World War II.

The urban density and high market value of American companies, businesses and enterprises, whether they be banks that are governed by the United States Federal Reserve, computer organizations or infrastructure, state governmental practices, the food industry, the housing industry, the automobile industry or the market for education, the high urban density that tends to be characteristic of the United States puts the United States Federal Reserve at a competitive factor globally in comparison to such countries such as Greenland and their banking industry with a population of approximately 55,000 when converted into American dollars is the average salary of an American in the United States. This leads naturally into a discussion of the United States Federal Reserve’s power on an international scale.

The United States Federal Reserve is one of the most powerful entities in the world when it comes to the international and global banking industry. It is for the reasons already mentioned such as the power of the USD and its population mass that account for this.

Measurement Guidelines

One of the ways that the United States Federal Reserve monitors how well the markets in the United States are is whether or not Americans are working. If Americans are working and the unemployment rate is non-existent in a perfectionistic world, then the United States Federal Reserve would know that things are going well because this means there is money in America.

Another way that the United States Federal Reserve monitors its effectiveness is how well the economy is doing. The Great Depressions that have affected the United States during the 20th and 21st centuries have greatly affected the reputation and the business position of the United States Federal Reserve. These depressions effectively put the United States Federal Reserve in a tail spin when they happen and the resulting factor is that the Federal Government has taught the United States Federal Reserve many lessons to help avoid such depressions in the financial market in the United States from happening again.

A good tax rate for Americans means that the United States Federal Reserve is again doing a good job and the books are close to balancing for this financial company because then they do not need to tax Americans in a high manner in order to pay for overspending or any misdeeds of the government.

Conclusion

Although the United States Federal Reserve is not considered your typical company it holds a lot of importance as a corporation of the United States with much influential power. This reports shows how a company’s success is effected by internal and external environments, as well as the importance of competitive advantage and the measurement guidelines of strategic effectiveness.

References

Atkeson, A., & Ohanian, L. E. (2001). Are Phillips curves useful for forecasting inflation?

Federal Reserve Bank of Minneapolis. Quarterly Review-Federal Reserve Bank of Minneapolis, 25(1), 2.

Blinder, A. S. (1996). The role of the dollar as an international currency. Eastern Economic

Journal, 22(2), 127-136.

Johnson, E., & Sherraden, M. S. (2007). From Financial Literacy to Financial Capability Among

Youth. J. Soc. & Soc. Welfare, 34, 119

Strategic Planning: What are the basics of environmental scanning? (2016).

Retrieved from

|Content |Points |Points |Additional Comments: |

|60 Percent |Available |Earned | |

| |5 | | |

|All key elements of the assignment are covered | |4.11 | |

|in a substantive way. | | |You described the Federal Reserve to examine its SWOT. |

|Evaluate the internal and external environments | | | |

|of your selected company using an environmental | | |I did not see a depth of discussion regarding a generic (three |

|scan. | | |basic possibilities) and grand strategies (there exist at least |

|Analyze the competitive advantage of your | | |15 of these possibilities). Please remember that strategic |

|selected company. | | |management hinges on the generic strategy (aka competitive |

|Evaluate the strategies your selected company | | |advantage) and the grand strategy. |

|uses to create value and gain competitive | | | |

|advantage. | | |You did identify measures and the effectiveness of metrics. |

|Examine the measurement guidelines your selected| | |Please reflect on how a quality program such as TQM or Six Sigma|

|company uses to verify its strategic | | |could assist with identifying and tracking these metrics. |

|effectiveness. | | | |

|Evaluate the effectiveness of the measurement | | | |

|guidelines your selected company uses.  | | | |

|Organization / Development |Points |Points |Additional Comments: |

|20 Percent |Available |Earned | |

| |1 | | |

|The paper is 1,050 to 1,400 words in length. | | |  |

|Paragraph transitions are present, logical, and | | | |

|maintain the flow throughout the paper. | | |Your paper is of appropriate length, tone is academic, and the |

|The tone is appropriate to the content and | |.75 |paper flows in a logical manner. |

|assignment. | | | |

|Sentences are complete, clear, and concise. | | | |

|Sentences are well constructed, strong, and | | | |

|varied. | | | |

|Sentence transitions are present and maintain | | | |

|the flow of thought. | | | |

|Mechanics |Points |Points |Additional Comments: |

|20 Percent |Available |Earned | |

| |1 | | |

|The paper—including tables and graphs, headings,| |1 | |

|title page, and reference page—is consistent | | |Your APA style is looking very nice. |

|with APA formatting guidelines and meets | | | |

|course-level requirements. | | | |

|Intellectual property is recognized with in-text| | | |

|citations and a reference page. | | | |

|Rules of grammar, usage, and punctuation are | | | |

|followed. | | | |

|Spelling is correct. | | | |

| |Total |Total | |

| |Available |Earned | |

|  |7 |5.86 |  |

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download