Mgt 498 Week 3 assignment part
Environmental scanning is process in which business gathers information about its environment. Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action. (Aguilar, 1967)Various techniques are available for environmental scanning such as SWOT analysis, PEST analysis, QUEST analysis, industry analysis, and competitor analysis. SWOT analysis is a strategic planning tool use to assess the strengths, weaknesses, opportunities, and threats of the organization. SWOT analysis is an established method for assisting the formulation of strategy.(Dyson, 2003).This tool is useful in the overall strategic planning process. The coca cola company is the leading manufacturer, distributor of non alcoholic drink. The company owns many soft drinks brand and is the market leader.
The strength of the company is the popular brand, loyal customer, diversified product range, and large scale of operations. The company also faces some of the weaknesses including the awareness among the people of harmful side effects of the soft drink. Another weakness is that some of the brands of the coke company are virtually nonexistent in many countries. The company markets 400 different drinks type. With the exception of coke and sprite people rarely know other brands. The company n