BUS 475 Week 3 Business Model And Strat
Business Model and Strategic Plan Part II: SWOTT Analysis Paper
BUS/475 – Integrated Business Topics
Daniel Magnole
October 14, 2014
Business Model and Strategic Plan Part II: SWOTT Analysis Paper
Introduction
Prior to enhancing a product within a large corporation, the company must have a strategic plan in place to ensure that the change runs smoothly. The strategy plan will focus on the company’s strengths, weaknesses’, opportunities, threats, and trends in terms of the new product, by developing and performing a SWOTT analysis. “A SWOTT analysis is an acronym for the internal Strengths and Weaknesses of a firm, and the environmental Opportunities and Threats facing that firm. SWOTT analysis is a technique through which managers create a quick overview of a company’s strategic situation (Pearce & Robinson, 2013).”
SWOTT Analysis Opportunity is definitely favorable situation in a company’s environment meaning that the company stands to gain from this type of behavior. And the opposite of this is threat. A threat is an action that is not favorable. Strength is an advantage that the firm has against its competitors and the market it is currently serving and expects to serve. Weakness is something that is not beneficial to the company and can hinder the company’s success (Pearce & Robinson, 2013).
Internal Forces Internal analysis is defined as an analysis of strengths and weaknesses focusing on internal factors that give an organization certain advantages and disadvantages in meeting the needs of its target market (Ballowe, 2008). Internal factors are important to analyze to better understand how the company aides in its own success or failure. This analysis allows a company to compare past successes with current procedures to aide in the company’s future endeavors. Some internal factors that will be discussed are strategy, structures, processes & systems, resources, goals, technologies, and leadership. Mazda’s new division will build a
BUS/475 – Integrated Business Topics
Daniel Magnole
October 14, 2014
Business Model and Strategic Plan Part II: SWOTT Analysis Paper
Introduction
Prior to enhancing a product within a large corporation, the company must have a strategic plan in place to ensure that the change runs smoothly. The strategy plan will focus on the company’s strengths, weaknesses’, opportunities, threats, and trends in terms of the new product, by developing and performing a SWOTT analysis. “A SWOTT analysis is an acronym for the internal Strengths and Weaknesses of a firm, and the environmental Opportunities and Threats facing that firm. SWOTT analysis is a technique through which managers create a quick overview of a company’s strategic situation (Pearce & Robinson, 2013).”
SWOTT Analysis Opportunity is definitely favorable situation in a company’s environment meaning that the company stands to gain from this type of behavior. And the opposite of this is threat. A threat is an action that is not favorable. Strength is an advantage that the firm has against its competitors and the market it is currently serving and expects to serve. Weakness is something that is not beneficial to the company and can hinder the company’s success (Pearce & Robinson, 2013).
Internal Forces Internal analysis is defined as an analysis of strengths and weaknesses focusing on internal factors that give an organization certain advantages and disadvantages in meeting the needs of its target market (Ballowe, 2008). Internal factors are important to analyze to better understand how the company aides in its own success or failure. This analysis allows a company to compare past successes with current procedures to aide in the company’s future endeavors. Some internal factors that will be discussed are strategy, structures, processes & systems, resources, goals, technologies, and leadership. Mazda’s new division will build a
References: Ballowe, Todd, “External Analysis,” March 5, 2008, retrieved online from http://onstrategyhq.com/resources/external-analysis/. Ballowe, Todd, “Internal Analysis,” March 5, 2008, retrieved online from http://onstrategyhq.com/resources/internal-analysis/. Pearce, J. A. II. (2013). Strategic management: Planning for domestic and global competition (13th ed.) New York, NY: McGraw-Hill.