Environmental Scan Institution Affiliation Date: In contemporary society organizations utilize the environmental scanning tool to examine their internal and external environment. The primary purpose of engaging in environmental scanning is to enable a business to determine the internal and external factors that impact its operations. For an organization like Nemours Childrens Hospital an environmental scan would be significant in that it would assist the organization to create value and sustain competitive advantage within the healthcare sector. The environmental scan would help establish the strengths and weakness of the internal environment as well as the opportunities and threats the organization has in the external environment (Babatunde and Adebisi 2012). The organization should not only examine its internal and external environment but rather should also evaluate the operating and general environment to understand all factors that could impact its operations. Nemours Childrens Hospital is a care organization that is centered on opting to go chemists to obtain medications that would treat their children rather than taking them to the hospital. Lastly the degree of rivalry in the healthcare industry is high given that numerous organizations offer similar services to the community as Nemours. As such an examination of the different environments helps Nemours Childrens Hospital to establish factors that impact its operations and creates an opportunity for the organization to take measures that will ensure it can offer quality services to the patients.References Babatunde B. O. & Adebisi A. O. (2012). Strategic Environmental Scanning and Organization Performance in a Competitive Business Environment. Economic Insights-Trends & Challenges 64(1).Bowling A. (2014). Research methods in health: investigating health and health services. McGraw-Hill Education (UK).Ovtchinnikov A. V. (2010). Capital structure decisions: Evidence from deregulated industries. Journal of financial economics 95(2) 249-274.World Health Organization. (2010). A conceptual framework for action on the social determinants of health.
You will perform an environmental scan for your target company.
Choose an organization according to the following:
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.
Write a 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.