Strategic Plan Part II SWOTT Analysis
BUS475
Date
Facilitator

Strategic Plan Part II SWOTT Analysis
The formation of a new and unique business requires a significant amount of analysis before the business can begin operations. The importance of conducting an internal and external comprehensive analysis serves to identify the internal strengths and weaknesses of the business model and the external analysis serves to identify the opportunities, threats, and trends that will impact the business. The information gathered during the SWOTT analysis is essential to ensure the sustainability of the business venture and the creation of a strategic plan.
Economic Factors
The current economic conditions in the United States and around the world will make obtaining credit more difficult, which will require an initial investment from the owners. Additionally, alternative funding sources such as supplier credit, and searching for capital investments will be necessary. However, because of the slow economy Kaizen will have less competition than in a thriving economy, which could translate into higher profits (Isidro, 2011).
Legal and Regulatory Factors
Legal and regulatory factors are cumbersome, but necessary in the restaurant business. Legal and regulatory compliance will be a significant part of the daily operations of Kaizen’s leadership team. As an employer it is necessary to ensure that wages are at least at the federal or state minimum wage level (depending on the state), tips and food credits must be tracked to reduce the tax burden on the restaurant (Beesley, C, 2009).
The Food and Drug Administration establishes and enforces food safety guidelines and regulations coving all aspects of the food industry. FDA guidelines must be followed concerning the handling, labeling, and preparing of food items. Additionally, local governments establish and enforce hygiene