...Advantages of SWOT Analysis Because of the constantly changing conditions in the monetary market, the quick response to challenges becomes more and more important to all companies. However, in order to survive in the economic battle, business owners should make the best use of the SWOT analysis to gain a thorough overview of their business. The SWOT analysis is a management tool that is mainly for observing the strengths, weaknesses, opportunities, and threats of business. It can be used on companies, as well as on persons, to identify their internal and external elements, evaluate the overall conditions, and make strategies and future plans according to the results. As Simoneaux, and Stroud (2011) state in their article “SWOT Analysis: The Annual Check-Up for a Business” that one of the main benefits of the SWOT analysis is that it makes people thinking and preparing in advance to challenges, not the late solution to the problems(2011, p75). However, some people point out that because of the simplicity of either conducting the analysis or the analysis itself, the results of the SWOT analysis may not be as accurate as people think. Although SWOT analysis may not generate specific solutions to the existing or approaching problems, it still has the advantages of low cost, clarity of business‘s overall conditions, and the unlimitedness of applying to any kind of business. The one main advantage of SWOT analysis is the low cost. In recent marketplaces, nearly everyone can run a business...
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...SUMMARY NIRDOSH’s idea came to Mr. Natvarlal Bhavsar owner of Maans products – India Company a family possessed business holding headquartered at Ahmadabad which originally runs a biri manufacturing unit and a marketing enterprise from 2 decades. NIRDOSH is a unique non tobacco smoking stick which is used as substitute for normal cigarette but having no harmful characteristics of smoking rather providing additional health benefits. The production was carried out with 30-40 labour workforces manually by hands. NIRDOSH got health certification from medical bodies claiming numerous health benefits. The brand tag line was to curb the habit of smoking by simply smoking a different cigarette. NIRDOSH was sold in one main outlet in Ahmadabad and through VPP. Free samples of product were distributed and door to door selling was done to make awareness about NIRDOSH. The annual average sales were 1.4 lakhs per annum. A packet consisting 10 sticks was Rs2.5 subsequently increased to Rs5 per packet. The major constraints were the financial sources for the company which were tried to generate by contacting friends, government and local leaders. The attempts were made to get orders from outside countries to boost the sales of NIRDOSH. SITUATION ANALYSIS The business scenario for NIRDOSH can be analyzed by using the SWOT analysis tool in this case. Strength – It is an innovative product with proven health benefits, so at present there is no competitor in the market. Having medical benefits and...
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... Academic Year: 2013/14 Semester: 01 London School Of Marketing Marketing Consultancy Report On ‘eBay Inc.’ Reported By: Mohammad Russel Report Date: 14/11/2013 Content Introduction 1. A brief history of eBay Inc. …………………………………… 03 2. Market position of eBay Inc. …………………………………… 03 3. Client Issues …………………………………… 05 4. Implications, if client problem is not treated …………………………………… 06 Situation Analysis of Market Market situation comparison .……………………………….….. 06 Situation Analysis Models ……………...……………………. 07 Internal Analysis: SWOT Analysis …..……………………………...... 07 External Analysis: PEST Analysis ........................................................ 08 Porters Five Force Analysis ........................................................ 08 Recommendations .….………………………………. 08 Appendix …………………………………… 09 References …………………………………… 12 Introduction A brief history of eBay Inc. eBay Inc. is an multi-billion American multinational company founded in 3 September 1995, by computer programmer Pierre Omidyar, headquartered in San Jose, California. It is an Internet consumer-to-consumer corporation...
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...Setting and Achieving Goals The process of strategic planning in an organization is imperative to ensure the survival and growth of an organization. Strategic planning helps to analyze the environment and other factors that might affect the smooth running of an organization. It also tries to rectify any issues in the organization that may cause it to fail and can give the organization a competitive advantage. According to an article in Public Relation’s Tactics “A plan’s design should be dictated by the organization.” (Newsome, 2008, p. 16) In undergoing the process of strategic planning two sub-processes come into play which are namely BSTEP analyses and SWOT analyses, and these two make up strategic planning. PEST (Political, Economic, Social, Technological)("PEST," 1999-2010) analyses management will analyzing the companies industry paying particular attention to company goals and whether achieving goals set is viable for that industry. Management will also monitor competitor’s behaviors and compare standards of outputs as to competitors, to ensure that standards being used are better than those of competitor companies. This will ensure the organization grows because the organization will constantly keep their rivals under check .It also promotes alertness and competition thus driving them to produce better products and or services. PEST also pays attention to the socio-cultural side of their market which is a key step in the growth and survival of an organization...
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...Strategic Management: SWOT analysis’ advantages and disadvantages Decision-making and problem-solving techniques Strategic Management is defined as a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes a variety of tools and analysis which help implement, evaluate and control the general strategy of a company. Strategy formulation begins with a situational analysis and it emphasises the monitoring and evaluating of external opportunities and threats in light of a corporation´s strengths and weaknesses (Wheelen and Hunger, 2006; Saloner et al., 2001). Objective The objective of this report is to describe, analyse and discuss advantages and disadvantages of a concept named SWOT which is an acronym for Strengths, Weaknesses, Opportunities and Threats. These concepts are frequently used as tools for analyzing the external environment of an organisation as well as the internal factors that constitutes its structure (Wheelen and Hunger, 2006). History SWOT analysis came from a research conducted at Stanford Research Institute in the 1960´s. The creation of the SWOT analysis comes from the need to find out why corporate planning failed. The research was funded by the fortune 500 companies to find out what could be done about this. Albert Humphrey together with his team began testing this tool and it suddenly became a corporate planning trend, which seemed to appear first at Du Pont in 1949 (Morrison, 2009; Friesner...
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...Swot Analysis Strategic Management: SWOT analysis’ advantages and disadvantages Decision-making and problem-solving techniques Strategic Management is defined as a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes a variety of tools and analysis which help implement, evaluate and control the general strategy of a company. Strategy formulation begins with a situational analysis and it emphasises the monitoring and evaluating of external opportunities and threats in light of a corporation´s strengths and weaknesses (Wheelen and Hunger, 2006; Saloner et al., 2001). Objective The objective of this report is to describe, analyse and discuss advantages and disadvantages of a concept named SWOT which is an acronym for Strengths, Weaknesses, Opportunities and Threats. These concepts are frequently used as tools for analyzing the external environment of an organisation as well as the internal factors that constitutes its structure (Wheelen and Hunger, 2006). History SWOT analysis came from a research conducted at Stanford Research Institute in the 1960´s. The creation of the SWOT analysis comes from the need to find out why corporate planning failed. The research was funded by the fortune 500 companies to find out what could be done about this. Albert Humphrey together with his team began testing this tool and it suddenly became a corporate planning trend, which seemed to appear first at Du Pont in 1949 (Morrison...
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...the sustainable business they run. The purpose of writing this paper is to lay out a diagram that will let Family Dollar explore some strategies that are optional to help them nurture the cost added services for the next 5 to 10 years. The most imperative crucial point of the paper will include the Executive Summary and the systematic approach of Family Dollar and their business strategy. This will come from tools such as the general force analysis and detailed SWOT analysis. The general force analysis will determine the external environments and the Porter’s five forces will determine the external industry environment. The SWOT analysis will see the sights of their strengths, weaknesses, opportunities and threats of Family Dollar. The paper will also draw attention to Family Dollar’s strategy and how will bring into line the vision and mission of the company Executive Summary For more than 60 years, Family Dollar has helped and provided their customers with a lot of worth as well as expediency. Their wholesalers are able to keep their cost down which helps them have the savings that benefit the customers. Family is very devoted to all communities they serve. This is by contributing and the offering of the products they sell. They also support non-profit organizations that strive to improve the excellence of their customers as well as their employees. The expansion of Family Dollar is its business, the people, and the systems they use to run a...
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...Strategic Thinking Many city departments in other states have faced similar issues as the Houston Public Library. The Houston Public Library can benchmark those companies that have demonstrated strategic thinking to resolve parallel issues. Strategic thinking is the approach in which group in an organization think about, access, view, and creates the future for themselves and their associates. It is more than responding to day-to-day as well as long-term problems, opportunities, and new realities; it is creating tomorrow. Strategic thinking is not reactive, but proactive. It focuses on how to create a better future by being proactive and adding value to society-through the accomplishment of high payoff results. Strategic thinking always involves change, and often, profound personal change. It is a change in ones mindset. Strategic thinking is imagining the results one wants to achieve in the future and creating an ideal future by defining and achieving results that adds values to the company. The Houston Public Library can also review how the Houston Zoo went from a city department to a private foundation. Strategy, in business, is the combination of foresight, planning, and decision-making that prepares an enterprise to achieve long-term goals and manage the consequences of contemporary decisions. When creating a strategy the firm needs to decide on both short-term and long-term objectives. The qualities of effective short-term objectives are measurable, priorities, and must...
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...dependency on the internet and it potential for enormous growth, and the great consumption of coffee among the people it has the potential to be a great place to build a social environment. It will cater to the savvy internet users, the internet surfers and the less experienced or non-users of the internet. Not only will JavaNet be a great place to spend time away from home socializing in a friendly environment, you also get to enjoy the best quality coffee, specialty beverages and baked goods while being educated and/or entertained at the same time. I think the combination makes for a great venture. However, like a lot of startup businesses I think it has a few challenges as well as the positives which I plan to point out in my SWOT Analysis. SWOT Analysis Strengths One of the greatness strengths of this business is that this Café is not just an ordinary Café and the only one in the area, but it is providing a service that people use on a large scale everyday, the Internet. To add to the equation, they are selling a beverage that millions of people consume all day, everyday entertaining and educating the public. Since location is important, being downtown close to the business community and close to trendy and upscale eating establishments with reasonable rent makes it is phenomenal. The set up they have planned is great with track lighting, art décor, hard wood tables and booths and the best upscale coffee equipment that money can buy so that they are competitive. ...
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...Assignment Describe SWOT analysis as a way to guide internal environment. How does this approach reflect the basic strategic management? Contents 1.0 INTRODUCTION 3 1.1 Overall description of SWOT analysis 3 1.2 Overview of the elements of the SWOT analysis 3 2.0 SWOT analysis as a way to guide the internal environment 4 2.1 How SWOT analysis prevents weaknesses and maintains strength 4 3.0 How SWOT analysis reflects the basic strategic management 5 Conclusion 7 References 7 1.0 INTRODUCTION 1.1 Overall description of SWOT analysis SWOT analysis is an analytical method which is used to identify and categories significant internal (Strengths and Weaknesses) and external (Opportunities and Threats) factors faced either in a particular arena, such as an organization, or a territory, such as a region, nation, or city. It provides information that is helpful in matching the firms' resources and capabilities to the competitive environment in which it operates and is therefore an important contribution to the strategic planning process. It should not be viewed as a static method with emphasis solely on its output, but should be used as a dynamic part of the management and business development process. Strategic planning depends on a clear understanding of your organization’s resources and Capabilities, as well as critical ingredients that are lacking. The assessment of organizational Strengths and weaknesses and opportunities and threats must...
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...Search Lesson Store Buy Video Exercise Store Powerpoint Home Crayola SWOT - Crayola (Binney & Smith), a subsidiary of Hallmark, Inc. Corporate History Crayola Manufacturing is a 120 year old company that makes safe, dependable art supplies for children. Because most consumers have never heard of Binney & Smith, the Crayola maker changed its name in 2007 to reflect its brand name. Crayola has many different lines of products; as well as services, which vary from just crayons and markers. They produce 3 billion crayons a year, plus craft and character licensed activities. This SWOT analysis is about Crayola. Crayola began as Binney & Smith back in 1885 when Joseph Binney partnered with his son and nephew. Binney and Smith sold their first Crayola crayons in 1903, when a box of eight cost only a nickel. The small business began in New York and moved to Easton, Pennsylvania (where they remain today), producing the dustless chalk. In 1958 the Crayola 64-crayon box, which included 16 new colors and a built-in sharpener, made its debut on the "Captain Kangaroo Show." This Crayola box "became part of the collective history and experiences of generations of Americans, and a symbol of the color and fun of childhood." Crayola estimates that the average U.S. child wears down 730 crayons by age ten. And, in the same spirit, the Smithsonian Institution's National Museum of American History placed an actual 1958 Crayola 64-crayon box and an assortment of 20th century Crayola advertising...
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...SWOT Analysis: Strengths, Weaknesses, Opportunities, and Threats | | |Main Section |Contributed by Val Renault | | |Edited by Jerry Schultz | What is a SWOT analysis and why should you use one? When do you use SWOT? What are the elements of a SWOT analysis? How do you create a SWOT analysis? How do you use your SWOT analysis? Opposition is an inevitable part of change and one that can significantly impact your community organizing. However, if you know how to take stock of the opposition inside and outside of your effort or group, you are more likely to plan and act effectively. That's where SWOT analysis comes in. SWOT can help you handle both ordinary and unusual situations in your community health or development initiative, by giving you a tool to explore both internal and external factors that may influence your work. What is a SWOT analysis and why should you use one? The name says it: Strength, Weakness, Opportunity, Threat. A SWOT analysis guides you to identify the positives and negatives inside your organization (S-W) and outside of it, in the external environment (O-T). Developing a full awareness of your situation can help with both strategic planning and decision-making. The SWOT method (which is sometimes called TOWS) was originally developed...
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...DIFFERENT TYPES OF INFORMATION’S In this assignment I have been ask to describe the types of information and sources of information by including both internal and external. The next I am going to describe typical purposes of information used in a business and relate how these apply to Living Fashion. Living Fashion is large national retail store which selling a selection of ladies, men’s and children swear. In order to run the business effectively, businesses needs different types of information. This information may relate to employees, operations, customers, suppliers or competitors. In many cases this information is not required, so it needs to be safely and securely. Verbal Verbal communication is the best way how to communicate in a business. The reason is that of the high degree of impact it can create on an audience. Many businesses use this method to have staff meetings or telephone enquiry from their customers. Living Fashion may use verbal communication for their meetings or any conversation by involving two people discussing a topic. Verbal communication in Living Fashion is done by customer service and colleagues and advisors at store. Written Written communication involves a letters, emails, newspapers, books, trade journals or government publications. These types of written commutations help the businesses to receive important information’s from their stakeholders. Living Fashion is using letters, emails to receive customer’s complaints, orders and completed...
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...feeling by fingertips, smell by nose and see by eyes. The simplest way to explain what tangible products are the things that is physical existence. Example: Ice-cream, vehicles, house, hand phone and television. ← Intangible products Intangible products are the things that are incapable of being touched; it comes in a form of services provided to consumers. Example: Car wash, repairing electronic things, performances and medical check up. 2) What is Strength- Weakness- Opportunity- Threats (SWOT) analysis? Explain detail about the SWOT analysis. SWOT analysis is a strategic planning method used in a project or in a business venture. It involves specifying of the business ventures and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. A SWOT analysis must first start with defining or objective. SWOT analysis is known by Worldwide and has been the subject of much research. This is what SWOT stand for: ▪ S- Strength: -The stability of a product in next 5 years. -The requirement of the market. ▪ W- Weakness: -The lack of ability in technology. -Drawbacks within the organization ▪ Opportunity: -Business opportunity in new and future market. ▪ T- Threats: -The competitive of competitors -Lack of ingredients -Natural disaster such as earthquake. The aim...
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...I. Introduction to Strategic Planning in Administration There is so much Strategic Planning that goes into Administration that many people are unaware of. Often the administration team is swept under the rug and what we do goes unnoticed because Administration is associated but not limited to filing, answering phones, making copies, coordinating meetings, putting together policies, maintain websites, paying vendors, developing academic programs, maintain reports with parents and so forth. The list goes on and on and every step and task is just as important as the least important. I chose Strategic Planning in Administration because the administrating team does majority the tedious task to make the daily operations run more smoothly. So the big question is why is Strategic planning so important in administration? Strategic planning is so important because it is the “road map” to the success of the company. It helps a company have more organization on where to focus, where resources will disburse and to make sure everyone is on the same page. Strategic planning is critical to business success and differs from classic business planning; the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning gives you a better understanding on where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go, creating details on how to arrive are meaningless...
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