S.W.O.T. Analysis
Newark Now

In the late 1960’s and early 1970’s Albert Humphrey led several convention at Stanford using a specific technique to analyze data from Fortune 500 companies. This technique eventually became known as SWOT analysis. What is a SWOT analysis? It is a strategic planning method that is used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a business venture, and it can be one of the most valuable tools in management. Without it, the risks, as well as strengths, of a financial idea would be completely disregarded and unknown. Similarly, without it, the aspect of planning for achievement would be entirely made redundant. This type of analysis aids in determining the objective of the business venture or project and identifying both the favorable and unfavorable factors; both internal and external in order to achieve that objective. As mentioned, there are four main components of the SWOT Analysis; strengths, weaknesses, opportunities, and threats. Strengths can be defines as those characteristics of the business, or project team that give it an advantage over others. Weaknesses (or Limitations) are characteristics that place the team at a disadvantage relative to others. Opportunities are external chances to improve performance in the environment. Finally, threats are external elements in the environment that could cause trouble for the business or project, and thus disrupt good work flow. I am currently using this analysis within the nonprofit organization, “Newark Now” that I am attending as an intern.
Newark Now was founded by the esteemed Newark Mayor Cory A. Booker in eight years ago in order to provide Newark residents with the skills needed to renovate their neighborhoods into more reputable settings. After a robust outreach effort, Newark Now's work began with seven brave grassroots organizations. Today, those seven organizations are some of the most successful grassroots organizations within the City of Newark and have been joined by many more grassroots organizations that partner with Newark Now to improve the society of the proletariat. One of the important things about the SWOT Analysis is that it can still be useful in analyzing any type of organization or business. This it is not limited to profit-seeking organizations. SWOT analysis may be used in any decision-making situation when a desired end-state has been defined. Thus, it can be an extremely helpful tool to have for many types of organizations such as non-profit organizations, governmental units, and even individuals. More interestingly, SWOT analysis may also be used in pre-crisis planning and preventive crisis management.
Over the years, Newark Now's work has evolved into something extraordinary. Today, Newark Now is an intermediary organization that partners with municipal government, grassroots organizations, residents, and the philanthropic community to catalyze the success of significant and distinct positive outcomes throughout the city. The organization channels the efforts and energy of the grassroots community to develop safety, economic independence, and civic participation and duty. Newark Now is an intermediary organization which is extremely motivated to the cause of bettering the Newark community.
Our SWOT analysis regiment is strikingly similar to the analyses used in commercial businesses; however distinct differences become evidently clear. Analysis for nonprofit establishments requires no investors or return on investments to consider or dividends to pay out; however it has to weigh in some factors such as fundraising, and volunteer staff regulation that a commercial firm does not. SWOT’s are used to develop a company’s marketing strategy and expand its influence within the economy. Partnering with the City of Newark as a whole, grassroots organizations, and community leaders, Newark Now brings forth initiatives that can play precious roles to help communities in need. This non-profit organization is committed to working with low and moderate income families and helps them access the resources needed for self-sufficiency. Newark Now is also committed to ensuring that Newark residents are civically engaged within their communities, and are working with their local governments to improve the lives for all members of the community. Newark Now also provides technical assistance to grassroots organizations to assist construction capacity and coalitions that would further enhance their ability to offer community building activities such as recreation centers and other needed resources. Newark Now had also developed many initiatives where Newarkers can find vital assets necessary for the production and advancement process. The initiatives include, but are not limited to, The Financial Empowerment Center, The Fatherhood Center, the family success Centers, the Super Summer initiative, an annual Brighter Holiday campaign, The Newark Rx, etc. In one way Newark Now also significantly assists people who are generally experiences severe financial issues. One Newark Now employee had stated, “we try to help our clients with income less than fifty thousand dollars or less by trying to help them out with public benefits such as food stamps, free medication for whom that qualify, free tax preparer and many more other public benefits.” This just goes to show the dedication that many of the Newark Now employees have.
Such as any other promising company, Newark Now has many strengths and weaknesses. Due to our employee count consisting majorly of volunteers and low- income workers, our company has very low wages to pay off. The support that we share with each other combined with our passion towards the development of the community drive us to outlandishly successful heights. The support and donations we receive from large profit organizations in our towns help us keep our doors open to clients in order to provide our completely free services. Newark Now unfortunately has to deal with many issues and weaknesses as to permit the company’s success. Qualified employees who are trained to prepare taxes are extremely hard to come by when no payment is involved. As a solution to this issue, we started training students who will recently graduate accounting; however we must ensure that they have passed the Internal Revenue Service (IRS) exam, in order to qualify as a tax representative to the public. Another significant issuefOur second and most important issue is finding the funds to keep our doors open. Keep in mind that all our income by donations from the public and other profit companies in our towns. Our Limitation are staying with in our towns we can help clients who live in our towns only and by doing so we only receive donations from companies and people in our towns only.
Opportunities, we are planning to expand to other locations in nearby towns like Paterson, Montclair, and Elizabeth in the next year and many more in the near future. With help from local colleges and Universities we have the man power to open up establishments within those locations with very little cost by, having a lot of interns to do the work for only the experience and no pay. We also will receive more and more donations from other full profit companies and other people. Our name is getting will knowing around the areas where we are located and more people are coming for our free services.
Our services are free for our clients and all of our requirements are families with income less than fifty thousand dollars and with the economy getting unfortunately worse and worse there are more people that would like to have our services, by providing free help to families in our towns we are trying to do our part to help. We help people with taxes, law, financing, and public benefits. The Financial Empowerment Center takes a comprehensive approach to improve families and individuals lives by connecting them with the tools and services that help reach both short-term and long-term goals. The Financial Empowerment Center bridges the information gap separating low-income families from life-changing public benefits, tax credits and other essential services that remain untapped and inaccessible. These basic resources increase the likelihood that families are healthy and stable, with parents who work and children who attend school.
Since opening our doors to the general public in August of 2008, in its first three years, The Financial Empowerment Center has deliver millions of dollars in benefits and served thousands of households. In 2010, the Financial Empowerment Center brought back over ten million dollars to members of the community.
SWOT helps companies to see themselves for batter and for worse. Companies are inherently insular and inward looking SWOTs are a means by which a company can better understand what it does very well and keep on doing it and where its shortcomings are and try to become batter at. SWOTs will help the company size and become more successful and more powerful. SWOT analysis has been a framework of choice among many managers for a long time because of its simplicity and its portrayal of the essence of sound strategy formulation - matching a firm's opportunities and threats with its strengths and weaknesses. Central to making SWOT analysis effective is accurate internal analysis - the identification of specific strengths and weaknesses around which sound strategy can be built. Thus by incorporating the SWOT Analysis into the central organization of Newark Now, we are able to correct and help any weakness, address any issue that needs immediate attention. Similarly, we are able to locate great opportunistic moments and capitalize on them, which can ensure for company growth.

References

Adams, J. (2005) Analyze Your Company Using SWOTs, Supply House Times, Vol. 48 Issue 7, pp. 26-28.
De Witt, B. and Meyer, R. (1998) Strategy: Process, Content, Context, 2nd ed., Oxford: International Thompson Business Press.
Hill, T. and Westbrook, R. (1997) SWOT Analysis: It's Time for a Product Recall, Long Range Planning, Vol. 30 Issue 1, pp.13-16. http://newarknow.org/about.html http://www.coursework4you.co.uk/essays-and-dissertations/swot-analysis.php