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Write a 1,050-word minimum internal environmental analysis in which you include the following: Assess the organizations internal environment.Identify the most important strengths and weaknesses of your organization including an assessment of the organizations resources.Identify important internal environmental factors found in your analysis of the general, industry, and external environments.Perform a competitor analysis.Assess the structure of the organization and the influence this has on its performance.Determine the organizations competitive position and the possibilities this provides. Format your paper according to APA guidelines. str581r12_wk3_gg_strategic_plan_part2.doc week_1_hoskins_gary_str581.docx week_2_hoskins_gary_str_581.docx Unformatted Attachment Preview Strategic Plan, Part 2: Internal Environmental Analysis Grading Guide STR/581 Version 12 Strategic Planning and Implementation Copyright Copyright © 2017 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Strategic Plan, Part 2: Internal Environmental Analysis Grading Guide STR/581 Version 12 Edited in accordance with University of Phoenix® editorial standards and practices. Individual Assignment: Strategic Plan, Part 2: Internal Environmental Analysis Purpose of Assignment Part 2 of the Strategic Plan goes further into the internal and external environments of the company chosen in Week 2. Students can reference Part 1 of the assignment for information on the environmental scan, after which they have the opportunity to look at the internal workings of their company and also do some competitor analysis. Students are able to use these concepts to perform real tasks associated with SWOT analysis and developing a foundation for devising a strategy for the company. Resources Required Strategic Plan: Part 1 Grading Guide Content Met Partially Met Not Met Total Available Total Earned 85 #/85 The paper uses the organization selected in Week 1. The paper includes an assessment of the organization’s internal environment. The paper includes the identification of the most important strengths and weaknesses of your organization including an assessment of the organization’s resources. The paper includes the identification of important internal environmental factors found in the analysis of the general, industry, and external environments. The paper includes a competitor analysis. The paper includes an assessment of the structure of the organization and the influence this has on its performance. The paper includes a determination of the organization’s competitive position and the possibilities this provides. The paper is a minimum of 1,050 words in length. Copyright © 2017 by University of Phoenix. All rights reserved. Comments: 2 Strategic Plan, Part 2: Internal Environmental Analysis Grading Guide STR/581 Version 12 Writing Guidelines Met Partially Met Not Met Total Available Total Earned 35 #/35 120 #/120 Organization The tone is appropriate to the content and assignment. The introduction provides a sufficient background on the topic and previews major points. Paragraph transitions are present, logical, and maintain the flow throughout the paper. The conclusion is logical, flows from the body of the paper, and reviews the major points. Mechanics The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total # Additional comments: Copyright © 2017 by University of Phoenix. All rights reserved. Comments: 3 Running Head: STRATEGIC MANAGEMENT PROCESS Strategic management process Gary Hoskins STR/581 Professor Knabe January 9, 2020 1 2 The major components of Keller Williams Realty, Inc. strategic management process This paper will look at Keller Williams Realty, Inc. The company is a real estate international company which is cloud-based Real Estate Company. According to Keller William, their culture contributes to the company’s strategy. They define culture as the result after organizing the goals of the organization on a positive, solid, core values and making sure they cultivate them daily. The company’s strategic management involves both the implementation and formulation of main goals as well as initiatives that should be taken by top management as representatives of the entire company. The initiatives are based on resources assessment, consideration of both internal and external environments in the real estate industry. This means that Keller Williams Realty, Inc. has a general direction as well as an idea of the direction it is taking. In Keller Williams Realty, Inc., buyers and sellers can access a network of professional, customer-centric agents and brokers. The company also gives loan brokerages to its customers (Burtonshaw-Gunn, 2017). These strategic management processes involve several things that should be done to achieve better performance. They include co-working, sustainability, asset or portfolio optimization, independence in real estate transaction and wellness in the workplace. For Keller Williams Realty, Inc. to continue thriving in real estate business, the company has ensured that several things ought to be done. Their belief gives them a unifying template for action in understanding and allowing the stakeholders to understand that customers are always right and customers always come first. The company also believes that trusts start with being honest and people will drive success (Richet, Ngwenyama, & Rowe, 2016). 3 How these components work together to create value for the organization The real estate business is rapidly changing as well as facing a lot of new challenges and openings. Keller Williams Realty, Inc. also operates on the internet which is the current way of operating business. This is both through Kelle an AI-powered virtual assistant which was designed by the real estate agents to give KW agents a voice to quickly access the neighborhood. From working in modern ways of working in new places, the business is disrupting a lot of traditional ideas. Due to the changes in technology buyers need new designs. These components work together in creating value for the company. These components in the business show new lifestyles strategic real estate management and also need a new level of adaptability. The following explanation shows how the components work together to create value for the organization; the co-working space allows and creates a community of people who have the same needs and interests. In sustainability in real estate, there are new positive impacts in creating long-term value for business, community as well as shareholders. It helps the company to attract as well as retain talented employees and in this case, increase profitability and efficiency. It has also helped in bringing new customers through boosting brand reputation. The working place in the company has to be an important aspect. Connecting with customers on the internet has been very effective. This has helped in reducing opportunity costs and increase productivity. The company has adopted asset portfolio optimization to increase income and reduce costs. The company has several experts who demonstrate skill and knowledge in creating a profile that is very attractive to customers (Burtonshaw-Gunn, 2017). 4 Mission statement “To build careers worth having, businesses worth owning lives worth living, experiences worth giving and legacies worth leaving” Vision statement “To be the real estate company of choice” Motivation strategy “Our goal is to dramatically simplify the technology experience agents and their consumers have with Keller Williams, enabling us to create the world’s simplest and most personalized discovery, transaction and ownership experience in residential real estate.” Innovation strategy “Innovation is the core of entrepreneurship, an instrument that creates consistent value and a tool that allows real estate agents to operate within the Fourth Industrial Revolution” People strategy “The Customer is always right” 5 Explain the role of ethics and corporate social responsibility in strategic planning. How does this direct their strategy? How do the organizations vision and mission align with your values and vision? If you are currently working for the organization, how does your role influence this and vice versa? The company’s ethics and social responsibility have an important role in creating a strategic plan. As discussed earlier, a strategic plan helps an organization to achieve the longterm objectives of the organization. When these components are not given an important role, they lead to a downward turn direction. Ethics is necessary for each policy, practice, and procedure for creating strategies. The company has been able to develop a strategic plan which involves the organization’s culture with both ethics and social responsibilities. The main objective of any organization is affected by the corporate social responsibility of a company which is to exceed the boundary of the societal benefits. By looking at the needs as well as the agendas of the stakeholders both ethics and social responsibility are key in developing a strategic plan. Ethics is the main in taking decisions that are related to organizational operations. Therefore, ethics and social responsibilities help the frim in implementing the plan with principles, ethics and moral values of the community (David, & David, 2019). Keller William’s management ensures that the strategic decisions are made after taking into account the possible effect on the stakeholders. Stakeholders of the company include all the customers, suppliers, societies and suppliers who are affected by the activities of the business. Keller William treats all the stakeholders’ rights. Corporate social responsibility depends larger on the type of company. Therefore, corporate leaders like Keller William pay significant attention to the strategic plan. Strategies and business models are important to give production results but they must be implemented by people. The people who implement these models have 6 different motivations, aspirations, and interests. Therefore, the company has acknowledged that having ethics and social responsibility will be able to make its decisions reasonably. The social responsibility in Keller William allows the incorporation of practices that give the community practices that when embedded will provide outreach of individuals in the community. The Keller William Mission and vision statement are aligned to my values because they believe building careers that can be achieved through creativity, diversity as well as allowing their employees to have their vision that will help their help in the competitive world. Also just like Keller William, I believe in owning a business that is worth owning to give my employees and the society the reason to live. Again, just like Keller William Company, I would like to own a real estate company of choice for everybody and cater to the housing needs for everybody who deserves to own, work and live in own as well as affordable houses. 7 Reference Burtonshaw-Gunn, S. A. (2017). Risk and financial management in construction. Routledge. David, F. R., & David, F. R. (2019). Strategic management: A competitive advantage approach, concepts and cases. Pearson. Richet, J. L., Ngwenyama, O., & Rowe, F. (2016). Key Stakeholders Dissent and their Influences in the Reframing of Strategic Intent in IS-enabled Organizational Transformation. Running Head: ENVIRONMENTAL SCAN Environmental Scan Gary Hoskins STR/581 January 16, 2020 Dr. Knabe 1 ENVIROMENTAL SCAN 2 Environmental scanning is significant in creating value as well as sustaining a competitive advantage over other real estate competitors. Environmental scanning is very important and involves a lot of practices that enable the organization to cope with the growing competition. The main significant aspects handled by the environmental scan are both internal and external environments of Keller Williams. This scan helps in detecting opportunities and threats that can affect the future operations of the company early. Keller Williams looks at future research methods as collecting information from the environment under examination (Rene‘Mott, Keller, & Perz, 2016). External Factors Competition Keller Williams scans the competition around to find out how they can beat their competitors and how they can bring in more customers. It’s very important to understand the type of competition and stay ahead of issues and trends. Some of Keller Williams’ competitors are Redfin and Zillow. The company has been able to launch a new consumer strategy in the first quarter by reducing the commission of the agent in order to reduce the incentive for an agent to bring a buyer into the house. Economics The economy has a great impact on company strategy. In the organization, the level of economic development has a direct effect on the factors that create the economic environment. Keller Williams has been able to study the economy in real estate business while discovering the buying power, current trends, and buying trends. Due to the current competition, the company ENVIROMENTAL SCAN 3 has been able to strategize new prices to offer better prices to the customers. These significant aspects are in terms of ownership structure as well as tenant influences on decisions that concern property maintenance and use. The significant economic issues are in the market values of properties, local purchasing power, values of taxation and demand in similar properties and the charge in the rental agreements (Yu, et al, 2019). Technology The technology focuses on the technological development of innovation, industry, and construction technology. Technology has a dramatic impact on all real estate companies. The use of social medial and the internet in advertising has been vital. Keller William use of technology is aimed at shaping the real estate industry in the future. Keller William utilizes the AI-powered virtual assistant (Kelle), smart cloud (Kelle Cloud), research and development partnerships, and a real estate specific operating system known as KW Command. The company announced that it is spending $1 billion in developing new technology products and services which is part of transforming the company into a technology company. Legal issues The legal environment in Keller William involves taxes, safety, health and advertising regulations. Every organization should research, understand as well as meet regulations. The legal framework has a great influence in the way it regulates real estate business purchasing power of the organization and other business activities. Legal issues in Keller Williams involve laws as well as regulations in policy framework that refers to a relational system created by political powers and businesses. The political impact in the organization is greatly influenced by regulations and the public law. Keller Williams is greatly supported by the national governments ENVIROMENTAL SCAN 4 to satisfy the needs of the employees such as health and wellness (Rene‘Mott, Keller, & Perz, 2016). Keller Williams’ General Environment The general environment of Keller Williams gives examples of the way several components influence the task environment in the organization. Keller William does not operate in a vacuum but rather in a dynamic environment which has a direct influence on the way it operates and achieves its business objectives. Business owners, as well as managers, have a great deal of control over the internal environment of their business. Political influences The political climate of any country has a great influence for Keller Williams’s success. The political climate of a country is significant for day to day operations of a business. The amount of government activity, type of laws it passes, and the political stability of a government contributes to the political climate. These political factors involve environment regulations, tariffs, tax policy, employment laws, trade restrictions, reforms, and political stability. The state and local governments exert control in business and the legal environment. Demographic factors Demographic factors are uncontrollable factors in the real estate business environment and are extremely important in management. Demographics involve the study of people’s important statistics like their age, gender, ethnicity location, and race. It helps the company in defining the target market for their houses and also determines the size and composition of the ENVIROMENTAL SCAN 5 workforce. The real business looks at the unique buying preferences of different generations. The market impacts the millennials in buying (Yu, et al, 2019). Social factors The social factors values, lifestyles, and attitudes influence how what, when and where individuals buy the houses. Social factors are hard to predict, measure, and define because of how subjective they are. The social environment of Keller Williams continues to change like the mindset of the customer and their lifestyles. Keller William takes steps in satisfying the goals for the world to remain while in search of affordable and standard housing. The culture has a great influence on certain business changes from country to country. Its vital to consider factors such as safety, various demographics, populations’ growth, and cultural aspects. Organization’s Industry Operating Environment Business managers in Keller Williams understand various facets of the impacts of the operating environment. The company’s operating environment has an internal environment, sector environment, and external environment. The internal business environment involves looking at the systems, knowledge, skills, activities, and resources of Keller Williams’ organization and employees. Looking at the strategic approach to this environment means considering the way the factors can be deployed and controlled. The external environment is the company itself. It involves the business industry environment in which Keller Williams operate. The macro-environment includes political, social, technological, legal, and eco-environmental factors that impacts all organizations. Environments in real estate are changing in terms of technology, business ideas, and ENVIROMENTAL SCAN infrastructure. It’s not the same as how the companies used to operate in the past before technology made its stance. (Fajardo,et al, 2019). 6 ENVIROMENTAL SCAN 7 References Fajardo, M. A., Weir, K. R., Bonner, C., Gnjidic, D., & Jansen, J. (2019). Availability and readability of patient education materials for deprescribing: An environmental scan. British journal of clinical pharmacology. Rene‘Mott, K., Keller, W., & Perz, M. (2016). 5D Interpolation Adds Value at the Drill Bit for a Texas 3D Seismic Survey. Yu, W., Chavez, R., Jacobs, M., Wong, C. Y., & Yuan, C. (2019). Environmental scanning, supply chain integration, responsiveness, and operational performance. 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