Apply: Strategic Plan Evaluation

Internal and External Environmental Analysis

Luis Mijangos

BUS/475

October 31, 2018

Glenn Arola

Internal and External Environmental Analysis

Identify economic, legal, and regulatory forces and trends

A company needs to determine the economic conditions, which influences or affects its productivity. For instance, the rise in inflation and interest rates, affects a company’s marketing power and ability since the rise in the interest rates influences the rise in prices and drop in consumption. For Hoosier Media Inc., the rise in the interest rates and drop in employment has affected the generation of income and revenues for the company (López-Gamero & Molina-Azorín, 2016). The company is affected by the inflation and the rise in the interest rates, which makes the acquisition of the company’s service and products expensive.

Another essential consideration is on the certification and legalization of the Hoosier Media Inc.’s contracts and regulations in the community. The industry has regulation, such as contracts and legal licenses for information and print issues. This will be influenced by copyright and patent legal issues. This affects the company’s ability to market and sell services based on the market conditions. Due to the specifications of regulations such as patent information, or trademarks, it becomes a challenge for the company to outsource its market services and probably meet the expectations of the company (López-Gamero & Molina-Azorín, 2016). Therefore, regulations sometimes affects a company’s ability to market products and meet consumer demands.

Critique how well the organization adapts to change

Mass communication in the modern community is affected by the ability to adopt to the technological solutions, market need change and business needs of a company. To consider how effective it is for a company, it is important to help in outsourcing and marketing the necessary needs of a company. It is also a challenge to adopt to the always changing business needs and consumer expectations. For instance, the company has adopted to the use of e-commerce or online solutions. This has managed to account for 5% of the company’s revenues. The industry of mass communication always changes rapidly and a company should be able to adopt towards the rising business needs and consumer satisfactions (López-Gamero & Molina-Azorín, 2016). The subscriptions also help a company to get well connected in the community and it is a challenge, which affects the ability of a company to ensure there is a rise and expectations in the market. Hoosier Media Inc. is unable to adopt to the changes in the market rapidly.

Discuss the primary internal organizational considerations

The internal organizational considerations implies to the resources and capabilities of a company. For instance, in this case study of Hoosier Media Inc. the aim is to identify the resources of the company and how they influences its operations. Resources refers to financial capability, human resources and proprietary information, such as brand and image. Hoosier Company faces challenges in developing qualified human resources, who will be responsible for learning and complimenting changes in the community (Wheelen, Hunger, Hoffman, & Bamford, 2017). It is also a consideration on how and effective does the allocation of financial resources an essential consideration on the performance of the company. Therefore, there is the need for developing and increasing financial resources in the company. The change is to adopt towards the changes in the community and how fully to understand, develop, and create effective business planning and management.

Discuss the primary external organization considerations

On the other hand, external considerations referrers to the socio-cultural conditions of the company and how its influences the ability to develop its culture and brand for its consumers. The socio-cultural implications of a company affects a company’s approach to its consumers. Secondly, it is the adoption of technology and economic conditions. The use of technology and how the company adopts it influences and affects the ability to meet the necessary expectations of a company. Therefore, it is essential to use, develop and consider effective considerations, especially, on the market conditions. The market conditions are influenced by inflation, unemployment levels, interest rates, and competition (Wheelen, Hunger, Hoffman, & Bamford, 2017). Finally, it is the political and legal conditions. The external considerations influences the ability of the company to meet the regulations, means, and essence clear on the organizational foundations in the community. It becomes ideal to understand the ability of a company in meeting its local and community expectations.

Identify the major issues and/or opportunities the company faces based on your analysis

Hoosier Media Inc. has many opportunities for growth through adopting to change and effective implementation of online solutions. This helps and becomes a solution to increase and improve effective financial growth. But, although the company has these many opportunities, it is faced with issues in strategic planning and leadership in the company. Strategic planning affects the company’s alignment of its goals and business functions (Grant, 2016). There is the need for the company to identify qualified human resources who will help the company towards effective planning and performance. The poor meeting of consumer expectation is also the inability to adopt to the change in the company’s business needs, which affects its ability to change and develop organizational effectiveness. Therefore, the company needs to align its internal and external company organization.

References

Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.

López-Gamero, M. D., & Molina-Azorín, J. F. (2016). Environmental management and firm competitiveness: the joint analysis of external and internal elements. Long range planning, 49(6), 746-763.

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. Pearson.