External and Internal Environmental Analysis Essay

An outer and internal environment s ordure is required in createing a strategic plan for an make-up. Longmont trapping mandate (LHA) needs to assess their internal and external environment to see a full view of their strengths, weaknesses, opportunities, threats, and trends. In this paper, an internal and external warring environmental scan for Longmont Housing Authority entrust be performed. An analysis of the approximately important external environmental factor in the remote, industry, and external run environments is included. The most important internal strengths and weaknesses of the organization will be identified. It includes an sagacity of the organizations resources. Finally, the organizations competitive position and possibilities will be assessed.External Environment ScanThe strategic management deterrent example shows the external environment as three interactive segments the remote, industry, and operating environments (Pearce & Robinson, 2011, p. 13). Econ omic, social, political, technological, ecological, and external environments affect how LHA formulates their strategic plans. In the economic environment, the company is affected by inflation, interest rates, existence, and so on. The threat of depressed economy is always a factor in the success of Longmont Housing Authority. Their processes and strategies can be circumscribed to fit the changes in the economy. Due to the changes in social factors such as beliefs, opinions, lifestyle, and preferences, the company can see the underlying trends, threats, and opportunities. An increase in population in Boulder County increases the hold for showtime-cost housing. This is an chance that is open for LHA as they continue to do grow and development their organization.The increased threat of a growing population and lack of cheap housing is an opportunity for the organization to find potential backup sources to expand their portfolio. Their new project is payable to break ground next month. This is a 62 unit affordable housing for seniors. Flood victims will have priority on the waitlist for this property, collectible to the fact that the majority of the funding for this project came from a state waterspout recovery program. The increasing population is also a good opportunity for the organization because they will be able to justify the need for forthcoming housing projects that will be desperately needed in the future.Factors that to a greater extent directly influence a firms prospects originate in the environment of its industry, including entry barriers, competitor rivalry, the availability of substitutes, and the bargaining power of buyers and suppliers (Pearce & Robinson, 2011, p. 110). However, LHA does non have to face tough competition in the housing industry. They are threatened by the threats of funding being pulled by Housing of urban Development (HUD) or other private investors, who may find affordable housing an investment risk.Internal Envi ronment ScanThe organization has been gaining competitive advantages since their launch in 2014 of bringing the property management in house, unconnected to hiring a 3rd party to handle the property management. These changes have modify staff development, improved agency financial stability, has streamlined processes, and as a result, they have developed effective policies.Because there is such a demand for affordable housing and very few investors wanting to get twisty in this industry there is not much competition. LHA has been able to develop good working partnership with other Longmont agencies, to include the senior center, the guard department, city council, Mental Health Partners, and other non-profits that assist the homeless and low income population.LHAs Competitive Position and PossibilitiesLongmont Housing Authority is in a good competitive position due to the mentioned strengths and opportunities in the internal and external environment scan. It is highly possible t hat they will continue to lead in the affordable housing industry because of the focus they are providing to research and development. They can also avoid the threats and eliminatecompetition by having experienced staff, and focussing on employee development.ConclusionLongmont Housing Authority is affected by the external and internal environment factors. Their strengths include their property portfolio (product) and processes. They are investing in development and they have a couple major housing projects in the works. They are threatened in the industry because of the threat of lack of funding and strict government regulations. If they will continue to push their initiative in discovering new ways to fund their projects, they can maintain or nevertheless improve their current performance.ReferencesPearce, J. A., II, & Robinson, R. B. (2011). Strategic management Formulation, implementation, and control (12th ed.). Boston, MA McGraw-Hill/Irwin. The Longmont Housing Authority. (20 14). Retrieved from http//longmontha.com/