Employing Strategy in a Competitive Environment Essay

Question 1- Create an surroundal scan for the high society indicating the most significant surroundal threats and discuss how the comp any should respond to each(prenominal) threat to ensure that the pertain to the business is minimal.Companies and industries are constantly impacted by their surroundings. For example, in all companies operate in a big environs shaped by influences including threats emanating from general economical conditions state demographics societal determine and lifestyles legislation and regulations technology and closer to plateful the diligence and combative environment in which the company operates (Thompson, Strickland, & Gamble, 2010, p.56). Companies have an inner and outer ring in their macro environment. Happenings in the outer or inner ring of their macro environment may occur rapidly or slowly, sometimes hitherto without advanced knowledge or warning. However, the major forces and factors that can have the largest impact on shaping th e strategy of a company result normally pertain to the companys immediate industry and free-enterprise(a) environmentthe actions of rival firms, buyer behavior, supplier related considerations, and so on (Thompson, et al., 2010, p.57). totally of the major influences and threats impart be discussed below. This discussion will include how flip-flop Renovations Inc. (SRI) will respond to each threat to ensure that the impact on the business is kept at minimal. Economic ConditionsTodays economic conditions are a great advantage for SRI. Because of the current foreclosure market, there is more property that is available to enable SRI to renovate, rent, and resale properties. There are so more different stages and types of foreclosures, including the pre- foreclosures, the auctions, and the real estate owned (REO) properties, SRI will have no problem finding its market niche (Caplin, 2004).Population Demographics The current population demographics show that there are many baby boo mers that are in the process of retiring. Some of these baby boomers have been life-long tenants. Some of these people will be first time home buyers and some will be in the process of purchasing a nonher home, where a prior home may have been loss during the past economic turnover. Demographics are not quite destiny but do exert a goodish influence on future housing demand (Belsky, 2009, p. 99). SRI will profess sure that population demographics will be carefully considered in all operations and expansions within the company. Societal Values and LifestylesSocietal values and lifestyles will determine the very existence and expansion of SRI. The determination of how clients and customers choose to come through will determine the profitability of the company. SRI must make sure that its sum total values, mission statements, and vision statements coincide with the societys values and lifestyles for this particular era. A strategic vision will point SRI in the sought after direct ion, plan SRIs strategic path, and form its organizational identity (Thompson, et al., 2010). commandment and Regulations SRI must be very sensitive to the legislation and regulations that will be surrounding the foreclosure and real estate markets. These laws and regulations will determine SRIs competitive advantage over other companies entering the market. Since much of SRIs business depends on its ability to buy property at a brush off and sell or rent this property at a can or affordable price, SRI much stay abreast to and legislative and regulatory changes in regard to the real estate and renovations industry.Technology Technology is ever-changing at such a rapid pace. SRI must keep the accurate, proper, up-dated calculating machine equipment, and websites to make sure that SRIs presence and availability is accessible to any client or potential clients. These technological up-dates must be through on a regular and consistence basis. This will give SRI a physical and web pres ence on a local, national, and international level.The factors, issues, and occurrences that are found in a companys industry and competitive environment should be considered the strongest of the external threats.However, the factors and forces in a companys macro-environment having the biggest strategy-shaping impact typically pertain to the companys immediate industry and competitive environment-the actions of rivals firms, buyer behavior, supplier-related conditions, and so on (Thompson, et al., 2010, p. 57).