Bus599 Employing Strategy in a Competitive Environment

Employing Strategy in a Competitive Environment

BUS 599 Strategic Management

Abstract

This paper will create an environmental scan for Verizon Wireless which will indicate the most significant environmental threats and discuss how a company should respond to each threat to ensure that the impact to the business is minimal. Using the environmental scan the suggestions are made as to how Verizon Wireless can leverage its strengths so as to yield a competitive advantage in the marketplace. How Verizon Wireless will compete against a significant competitor to maximize profits and create value for stakeholders is identified. Also, an assumption is made that the United States’ economy is in a state of decline that would require modifications to the company’s strategy. Justifications are provided that will support how the modifications will help the company to continue in the marketplace. Finally, an evaluation of how global competition may impact Verizon Wireless’ strategy is performed.

Keywords: Verizon Wireless, environmental scan, environmental threats, modification, global competition

Create an environmental scan for the company indicating the most significant environmental threats and discuss how the company should respond to each threat to ensure that the impact to the business is minimal. Environmental scanning can provide a company with many different advantages. It can be utilized as a tool to examine and forecast the marketplace. Environmental scanning can provide information about the industry that can be helpful when devising the company’s strategy (Saxby, Parker, Nitse, & Dishman, 2002). Also, an environmental scan can benefit a company by allowing it to uncover new opportunities and monitor the market trends. The company’s strengths, weaknesses, opportunities, and threats (SWOT) can be derived from an environmental scan (Porter, 2004). Environmental scanning provides a vital company information an industry’s environment that...