S.W.O.T.T
In any successful business you will find a SWOT analysis. According to our reading “SWOT analysis is a simple but powerful tool for sizing up a company’s strengths and weaknesses, its market opportunities, and the external threats to its future well-being” (Thompson, Peteraf, Gamble, & Strickland, 2012, p. 23). At Safeway, SWOT is an important factor to the success of our new division/service. In this paper, we will go over what SWOTT is and go over Safeway’s SWOTT, discuss how we adapt to change, the supply chain, issues opportunities, a hypothesis, and research questions.
SWOTT
First, we have SWOTT. SWOTT is an acronym that stands for
S- Strengths
W- Weaknesses
O- Opportunities
T- Threats
T- Trends
For Safeway, a few of our strengths are being first in the market, already established, mergers/acquisitions. Safeway has found that by being the first in the market we have no competitors and can dictate the price of the service. Having an already established business is a strength to us because customers already know what we have to offer. The last strength can also be a threat which is, mergers/acquisitions. The reason we at Safeway find that mergers/acquisitions a strength because we are would be growing without having to open new storefronts and also gain more customers. At Safeway, some of the weaknesses that Safeway has found is regulations, going global, and Economic Changes. Regulations is a weakness for our business because it is always changing, without proper training and refresher courses it could cause major fines and even lead to the end of the service. Safeway has tried to expand into Canada and has had to sell off that portion of Safeway for financial reasons. Economic changes are always happening and is a weakness because our company cannot predict the future. Last, we will discuss the opportunities and threats to Safeway.