Swot analysis
Tutorial 5 Management
The SWOT analysis is the identification of a business’s strengths, weaknesses, opportunities and threats. To accomplish the restaurants goals, this analysis has to be done in order to understand where the business is at that moment in time. (Robbins, Berg, Stagg, & Coulter, 2012) asserts that “ planning involves defining organizational goals, establishing an overall strategy for achieving goals). That is, without planning, goals cannot be established. Thus, using the SWOT analysis to determine their strengths, weaknesses, opportunities and threats, the restaurant can try accomplish their goals by forming new strategies.
The restaurant has a variety of strong areas that it can rely on to enable the effective running of the business. These strengths are; firstly, the location. Being next to the university is a major advantage as there are no other major outlets in the area meaning most people have no choice making it a monopoly.
On the other hand, one major weakness that counters its strengths’ is the lack of planning. No planning leads to lack of strategies or unclear strategies being made causing ineffectiveness. Another weakness includes the fact that the restaurant has made itself vanurable to competitive pressure since the customers are not satisfied. Meaning they will look for alternatives in the near future.
Opportunities are random. A company has to oversee its opportunities to expand their business and thus arising effectiveness ( Nidumolu, Prahalad, & Rangaswami, 2009). The restaurant in particular has an opportunity to expand courses to meet the broader range of customer needs. For example, it may develop an new ordering and waiting system to avoid customer dissatisfaction. Another opportunity is the one year guarantee to move to a better strategic group or plan by taking time to assess their limitations.
The lack of alliances and communication with the government acts as a threat to the restaurant. The government may
The SWOT analysis is the identification of a business’s strengths, weaknesses, opportunities and threats. To accomplish the restaurants goals, this analysis has to be done in order to understand where the business is at that moment in time. (Robbins, Berg, Stagg, & Coulter, 2012) asserts that “ planning involves defining organizational goals, establishing an overall strategy for achieving goals). That is, without planning, goals cannot be established. Thus, using the SWOT analysis to determine their strengths, weaknesses, opportunities and threats, the restaurant can try accomplish their goals by forming new strategies.
The restaurant has a variety of strong areas that it can rely on to enable the effective running of the business. These strengths are; firstly, the location. Being next to the university is a major advantage as there are no other major outlets in the area meaning most people have no choice making it a monopoly.
On the other hand, one major weakness that counters its strengths’ is the lack of planning. No planning leads to lack of strategies or unclear strategies being made causing ineffectiveness. Another weakness includes the fact that the restaurant has made itself vanurable to competitive pressure since the customers are not satisfied. Meaning they will look for alternatives in the near future.
Opportunities are random. A company has to oversee its opportunities to expand their business and thus arising effectiveness ( Nidumolu, Prahalad, & Rangaswami, 2009). The restaurant in particular has an opportunity to expand courses to meet the broader range of customer needs. For example, it may develop an new ordering and waiting system to avoid customer dissatisfaction. Another opportunity is the one year guarantee to move to a better strategic group or plan by taking time to assess their limitations.
The lack of alliances and communication with the government acts as a threat to the restaurant. The government may