Management - Environmental Scanning.

RUNNING HEAD: ENVIRONMENTAL SCANNING
MANAGEMENT

ENVIRONMENTAL SCANNING 1
Contents
Introduction................................................................................................................................2
Company overview....................................................................................................................2
Value creation and sustain competitive advantage....................................................................3
Environment Analysis................................................................................................................3
External environment.............................................................................................................3
PESTLE ANALYIS............................................................................................................3
General environment..............................................................................................................4
Industry environment..............................................................................................................4
Porters five force model......................................................................................................4
Conclusion..................................................................................................................................5
Bibliography...............................................................................................................................6

ENVIRONMENTAL SCANNING 2
Introduction
The report reflects on ‘Environmental scan’ of ‘Best Buy Company’. Environmental
scanning involves analysing the organization internal and external business environment to
identify strengths, weakness, threats, and recognize opportunities. It assists the organization
in providing right direction and developing better future plans. It is highly essential to gain
information about the rapid changes and their impact on the organization (Zhang, Majid, &
Foo, 2010). Focusing on report structure, the initial section involves brief overview of Best
Buy Company. The next section includes environmental scanning strategy for value creation
and to sustain competitive advantage. The succeeding part comprises of environment
scanning of Best Buy Company through the application of PESTLE framework and Porters
Five Force Model.
Company overview
Best Buy Company is an American multinational organization founded in the year
1966. It offers wide variety of consumer electronic goods and services. Its products mainly
include television, mobile, digital camera and other electric appliances. It also offers
installation, delivery and repair services. Globally, it has around 1288 stores in the year 2019
(Connell, 2019).
Figure 1: Best Buy Stores worldwide
Source: (Connell, 2019)