Natural Health Trends Co Environmental Scan Paper Write a 1,400-word minimum internal environmental analysis in which you include the following: Assess the

Natural Health Trends Co Environmental Scan Paper Write a 1,400-word minimum internal environmental analysis in which you include the following: Assess the organization’s internal environment.Identify the most important strengths and weaknesses of your organization including an assessment of the organization’s resources.Identify the most important internal environmental factors in the general, industry, and external analysis in relation to the internal analysis.Perform competitor analysis.Assess the structure of the organization and the influence this has on its performance.Determine the organization’s competitive position and the possibilities this provides. Format your paper according to APA guidelines. Running Head: ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
Environmental Scan: Natural Health Trends Co
Institution
Name
Date
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ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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Introduction
Environmental scanning refers to the process used by organizations to monitor their
business environment to identify both opportunities and any threats that affect their business with
the aim of making strategic decisions. An environmental scan takes into consideration several
factors. Among these are the external environment, the general environment and the industry
environment the organization is operating in. An environmental scan of Natural Health Trends Co
which was incorporated in the year 2005 as e-commerce and direct selling company will be done
here. With the company dealing in health, quality of life and personal care products, a scan of its
environment is important as evidence shows this process plays a vital role in organizations dealing
with public health (Koo, O’Carroll, Harris, & Desalvo, 2016). This paper, therefore, seeks to
determine how Natural Health Trends Co can create value and sustain competitive advantage using
the strategy that will be developed in the environmental scanning process.
How to Create Value and Sustain Competitive Advantage Using the Environmental
Scanning Strategy
Natural Health Trends Co. operates within the public health care industry. The organization
faces competition from both public and private organizations operating in the industry. Its
competitors include 8fit, Herbalife Ltd, Nu Skin Enterprises, Omega protein, and USANA Health
Sciences among others. To create value for its wellness, beauty and personal care products, the
company must use information about market trends extensively (“Natural Health Trends Corp
(NHTC.A) Company Profile”, 2019).
Market trends will help the company to understand the demographic trends and the health
preferences different people have. The company can use this information to tailor their products
ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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to meet the needs of the different customers in the market. The environmental scan strategy
adopted should allow frequent scans most preferably quarterly to enable the company to
understand multiple external factors thus helping the organization to keep pace with the external
environment. This will ensure that the company will adapt its competitive strategy according to
the market needs. As a result, the company will benefit by taking advantage of any opportunities
before its competitors, dealing with threats in advance before they grow into enormous challenges
and aligning its strategy to address the marketplace changing demands (Wilburn, Vanderpool, &
Knight, 2016).
Natural Health Trends Co External Environment
The external environment of an organization refers to all factors from outside that influence
the operations of the organization. It is divided into the micro and macro environment. The micro
environment in the case of Natural Health Trends Co comprises the suppliers, financiers, market
intermediaries, customers, and public opinion. As part of the scanning strategy, the company has
to ensure that they have reliable suppliers to provide the required materials in manufacturing the
products. Suppliers must be paid in prompt to keep them motivated. As an incorporated company,
shareholders comprise the shareholders (Clarke, 2018).
The company must ensure that they maximize the shareholders’ wealth through proper
marketing strategies that will attract more customers to the company products. Market
intermediaries play a crucial role in the marketing and distribution of products. Natural Health
Trends Co in its global market strategy has been relying on engagement with local service
providers to distribute and sell and its products in China, Europe, Malaysia, Taiwan, Hong Kong
Singapore, Japan, Kazakhstan, and South Korea. It is important for the company to include a
strategy that will help in engaging these service providers to communicate marketplace changes in
ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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their segments. The company has an excellent mix of products that targets all customers in terms
of age and needs. Studying trends about these customers is key to keeping them. Public perceptions
have become an essential aspect of the business day. Natural Health Trends Co has to use materials
that do not pose any danger to the customers and the environment (Clarke, 2018).
The macro element comprises of six important factors which include political, Economic,
Social, Technological, Legal and Environment (PESTLE) factors. An analysis of the political
factors is important to ensure that the company operates within the limits of the governments of
the day in the different markets. Also, it is important to study the economic status of the customers.
The product quantities can be tailored to meet different customer purchasing power. In the social
aspect, the company has been undertaking training and campaigns to educate the public on the
importance of healthy living. This is a strategic move as it allows them to interact with potential
customers. Embracing technology is an important aspect of any organization today. The ecommerce platform the company has adopted will help them in marketing its products and
reaching overseas customers more efficiently. Lastly, every organization must operate within the
industry and country regulations and laws. Natural Health Trends Co since its incorporation has
had no issues of breaking the law and has been disclosing its financial information as required
(Clarke, 2018).
Natural Health Trends Co General Environment
The general environment will comprise of entirely the external environment of the
organization and any other factors that affect the operations of the company. One of the factors
that need scanning, monitoring and appropriate assessments is the demographic segment. As a
company that deals in products connected to public health, Natural Health Trends Co has realized
the growing focus on wellness and health both in the political and societal sphere. The company
ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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has therefore moved to meet the needs of these populations and has invested heavily in a variety
of wellness and health products for all ages (Clarke, 2018).
For the company to continue enjoying success, it must monitor and assess consistently the
demographic changes that are happening in its market. For example, in the United States, the
population of seniors is increasing. Another factor that is important to be assessed is the physical
environment concerns about organizations either producing products that threaten human life or
the environment. Since this company uses natural ingredients to manufacture its products, it must
ensure that it adheres to environmental regulations in all the countries it trades.
Evaluate the Organization’s Industry Operating Environment
With the presence of both private and public organizations in the public wellness and health
industry, there is no doubt that Natural Health Trends Co faces competition. Companies such as
8fit, Herbalife Ltd, Nu Skin Enterprises, Omega protein, and USANA Health Sciences are
producing substitutes to what the company produces. Through product innovation, the company
has been able to compete favorably. Also, the company has to continue assessing the changing
preferences among its customers both domestically and overseas. This continuous monitoring and
assessment of the market are important because it helps the company to identify trends that will
create new opportunities as it has happened before (“Evaluating the External Environment”, 2015).
Conclusion
In conclusion, environmental scanning is a vital strategic management tool that ensures
that a firm is able to compete favorably. Scanning allows an organization to analyze events and
trends happening in society and the world at large and identify opportunities. As a process,
environmental scanning looks at all factors in the business environment with the aim of
ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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determining whether the business activities and products are aligned to the environmental needs.
It is through the environmental scanning process that companies are able to develop sustainable
and competitive strategies (Koo, O’Carroll, Harris, & Desalvo, 2016).
ENVIRONMENTAL SCAN: NATURAL HEALTH TRENDS CO
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References
Clarke, A. (2018, November 16). Environmental Scanning in Marketing – What is it? See
Examples. Retrieved May 11, 2019, from https://groundfloorpartners.com/environmentalscanning/
Evaluating
the
External
Environment.
(2015).
Retrieved
May
11,
2019,
from
https://saylordotorg.github.io/text_mastering-strategic-management/s07-evaluating-theexternal-enviro.html
Koo, D., O’Carroll, P. W., Harris, A., & Desalvo, K. B. (2016). An Environmental Scan of Recent
Initiatives Incorporating Social Determinants in Public Health. Preventing Chronic
Disease,13. doi:10.5888/pcd13.160248
Natural Health Trends Corp (NHTC.A) Company Profile. (2019). Retrieved May 11, 2019, from
https://www.reuters.com/finance/stocks/companyProfile/NHTC.A
Wilburn, A., Vanderpool, R. C., & Knight, J. R. (2016). Environmental Scanning as a Public
Health Tool: Kentucky’s Human Papillomavirus Vaccination Project. Preventing Chronic
Disease,13. doi:10.5888/pcd13.160165

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