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Project 2: Environmental Scan for BeamDog Company (https://www.beamdog.com/) A.Introduction For Project 2, you will perform a complete environmental scan of the company that you work for for BeamDog Company (https://www.beamdog.com/) as a Junior Accounting Administrator, including: · External environment (e.g., opportunities, threats, PESTEL components) · Internal environment (e.g., strengths, weaknesses, financial ratios, mission, vision) · Identify one strategic issue that your company is currently facing. This will give you the opportunity to learn more about your organization, research industry trends and forces, and set the stage for providing a well-substantiated recommendation for improvement in a particular area of your company (the actual recommendation will occur in Project 3). This environmental scan will also give you a framework for approaching issues in your company and industry in a strategic and analytical manner. You will then write a report on your findings using the report format in Section C of Project 2. The focus of your report should be on the strategy of the organization or the manner in which the company competes. You must ensure that the issue identified in your report is related to the success of the organization within the industry, and not on operational issues (functional issues) within the organization. In order to identify the problems and strategic issues currently facing your company, you are strongly encouraged to interview various high-level employees within your organization. Project 2 will allow you to begin identifying the course outcomes you will achieve through this project. B.Analytic Tools This section describes the analytical tools you should use to complete Project 2. External Environment · Opportunities: What are potential opportunities within your industry? What interesting trends are you aware of? Consider opportunities within your industry, such as: · Changes in technology · Changes in government policy · Changes in social patterns, population profiles, lifestyle, etc. What are the specific implications and impacts of each opportunity? · Threats: What are potential obstacles within the industry? As with opportunities, consider changes in technology, government policy and social patterns, etc. What are the specific implications and impacts of each threat? · PESTEL Analysis: What is the big picture regarding the political, economic, socio-cultural, technological, environmental and legal environment in which the company operates? What are the specific implications and impacts for each item identified? Note: see Section F for link to PESTEL ideas. · Competitive Analysis: It is extremely important to analyze the competitive landscape before analyzing your strategic alternatives and your final recommendation (which you will do in Project 3). Attribute Your Company Competitor #1 Competitor #2 Competitor #3 Strengths Weaknesses Market Share Pricing Target Market Etc. Note: The number of competitors and the attributes (i.e., aspects of comparison) you use is up to you. A good starting point is three competitors and four or five attributes. · Consumer/Customer Analysis: What does your customer value? What do the customers need and want? How well does the company meet the needs and wants of the customer? Who are the customers (what are their demographics)? Can the customers be segregated into succinct groups? Do these groups have different wants and needs? Are some customers more profitable than others? Internal Environment Examine the following aspects of your company’s internal environment with respect to your program major. · Mission and Vision of Company: What are they? What are the key elements within them? How might they influence any strategic alternatives you provide, or any strategic recommendation you ultimately make? If there is no formal mission or vision, what do you think it is? (Ask around if you need to.) · Strengths: What specific advantages does my company have? What do we do better than anyone else? What unique or lowest-cost resources do we have access to? What do people in our market see as our strengths? What are the specific implications and impacts of each strength? · Weaknesses: What could we improve upon? What should we avoid? What are people in our market likely to see as our weaknesses? What are the specific implications and impacts of each weakness? · Business Ratios: Identify and calculate at least six relevant business ratios. Clearly identify what these ratios tell us, and detail what each ratio means for the company as far as its implication and impact. C.Environmental Scan Report Format Executive Summary The purpose of the executive summary is essentially to provide a decision-maker (i.e., your boss or company) with a one-page version of your report. If this were the only thing the decision-maker had time to read, s/he would be in a position to act from the executive summary alone. Therefore, actual key findings of the environmental scan, as well as identification of the actual issue (for Project 3) should be clearly stated. Introduction Clearly define the purpose (why are you writing this report, and to whom?) and the scope (actual major headings of report). Include a brief description of the company, its business and the industry it operates within. Identify and briefly discuss the strategic issue that will be up for examination in Project 3. Environmental Scan Mission/vision, external analysis, internal analysis, competitor analysis and consumer analysis, as discussed in Section B. Note: Each element (and sub-element) here should, of course, have its own headings and sections. Conclusion Close strong with a brief statement to sum up your report. Be sure not to introduce any additional information in the conclusion. Circle back to the purpose of the report stated in the introduction and ensure that your report is successful in meeting its purpose. D.Format, Length and Submission Requirements · Format: Reports should be written in third person, using a professional business vocabulary and tone. Use the report format discussed in Section C. · Length: 1,500 words maximum, excluding any appendices and exhibits. Use 1.5 line spacing, 0.75-inch margins, and 12 pt. Arial or Times New Roman. · References: Cite all sources in APA style and provide a properly formatted reference list (APA style, 6th edition). · Turnitin.com: Project 2 should be submitted to turnitin.com before the assignment due date. · Tables and Charts: Use as you see fit. They are often helpful in presenting environmental scan information. E.Key Success Factors The key success factors for a strong report are: · Relevance: The environmental scan you perform will actually help you address the issue you will work on Project 3 (i.e., the scan is directed towards your major and the issue you identify). · Brevity: Two or three items for each scan component (unless otherwise stated) are usually sufficient. Make these items count. · Professionalism: Strong report writing includes clarity, flow and professional appeal (i.e., cover page, table of contents, proper headings, white space, appropriate use of appendices, proper citation) · Strong and Clear Evidence of Company/Industry Research: Via the links suggested in Section F, or via interviews, discussions, meetings with colleagues at work, or via other preferred sources. F.Resources and Links · For PESTEL: Mindtools – Essential Skills for an Excellent Career: https://www.mindtools.com/pages/article/newTMC_09.htm · Government websites – Statistics Canada, city chamber of commerce websites, Cansim: http://www5.statcan.gc.ca/cansim/ · For proper bibliography (APA): http://www.citationmachine.net/ Project 2: Environmental Scan Grading Rubric Component Exceeds Expectations Meets Expectations Does Not Meet Expectations Marks Executive Summary Maximum 1 page Succinct, insightful summary of key findings for each section Clearly identifies a strategic issue faced by the company Maximum 1 page Succinct summary of key findings for each section Identifies a strategic issue faced by the company More than 1 page or less than half a page Key findings are incomplete, unclear or too general Strategic issue is either not identified, or not clearly so 10-9 marks 8-6 marks 5-0 marks /10 Introduction Both scope and purpose are clearly defined Brief description of company is provided: name, type of business, industry Strategic issue is identified and briefly described Professional, sophisticated language and style that stimulates reader interest Both scope and purpose are defined Description of company is provided: name, type of business, industry Strategic issue is identified and briefly described Conventional business language and style Scope or purpose are defined, but not both Description of company lacks one of the following elements: name, type of business, industry Strategic issue is not described Simplistic or pretentious language 10-9 marks 8-6 marks 5-0 marks /10 External Environ-mental Analysis A minimum of 5 valid and credible external sources cited All research is current and clearly relevant to the issue Concise and insightful analysis of the implications of each scan item A minimum of 3 valid and credible external sources cited Most research is current and relevant to the issue Analysis of implications of each scan item are clearly outlined Fewer than 3 valid and credible external sources cited Research is not current and/or not clearly relevant to the issue Details of implications of each scan item not clearly outlined 15-13 marks 12-9 marks 8-0 marks /15 Consumer Analysis Insightful analysis of company’s handling of customers’ needs and wants Relevant customer demographics provided Detailed description of customer segments (where applicable) Logical analysis of company’s handling of customers’ needs and wants Relevant customer demographics provided Clear description of customer segments (where applicable) Superficial analysis of company’s handling of customers’ needs and wants Customer demographics irrelevant or not provided Customer segments not provided (where applicable) 10-9 marks 8-6 marks 5-0 marks /10 Internal Environ-mental Analysis (related to program major) Mission and vision of the company clearly articulated Insightful and compelling analysis of company’s strengths and weaknesses with their associated implications More than 8 business ratios with clear and succinct explanations of the impact on the company are provided Mission and vision of the company articulated Clear and logical analysis of company’s strengths and weaknesses with associated implications 6 business ratios with explanations of the impact on the company are provided Mission and vision of the company missing or unclear Superficial analysis of company’s strengths and weaknesses; implications not considered Fewer than 6 business ratios with explanations of the impact on the company are provided 25-20 marks 19-15 marks 14-0 marks /25 Conclusion Strong, logical conclusion Ties back to introduction Succinctly summarizes all key points Provokes further though Does not add any new unrelated information Reasonable conclusion Ties back to the introduction Mentions key points Does not add any new unrelated information Leaves loose ends Does not tie back to the introduction Adds new information that was not covered in the content 10-9 marks 8-6 marks 5-0 marks /10 Overall Presentation Logical and consistent flow to the report Virtually free of spelling and grammatical errors Articulate, professional language for business Title page, table of contents included Graphic design elements are consistent throughout: headings, spacing, font size and colour Appendices are clearly labelled and identified within body of report Logical flow to