Strategic Plan Part II SWOTT Analysis sample
.pdf
keyboard_arrow_up
School
University of Phoenix *
*We aren’t endorsed by this school
Course
475
Subject
Business
Date
Jan 9, 2024
Type
Pages
7
Uploaded by GrandWaterBuffalo3888
Running head: STRATEGIC PLAN, PART II: SWOTT ANALYSIS 1 Strategic Plan, Part II: SWOTT Analysis First Name Last Name University of Phoenix Integrated Business Topics BUS/475 Instructor Due Date
STRATEGIC PLAN, PART II: SWOTT ANALYSIS 2 Strategic Plan, Part II: SWOTT Analysis A SWOT Analysis is a superior tool that can highlight a company’s strengths, weaknesses, opportunities, and threats. A SWOTT Analysis adds the additional trends element into such an evaluation. Analyzing these five elements indeed can be beneficial in discovering the company’
s strong areas and areas that need work. However, within the five elements, additional forces and trends exist. As Tuppeny Payroll & Benefits begins thinking about startup, analyzing a few of Tuppeny’s strengths, weaknesses, opportu
nities, threats, and trends can be a great benefit in creating a successful business. Of a handful of common forces and trends, an evaluation of seven will provide a quality review of some of Tuppeny’s strong and weak areas. The seven areas Tuppeny will review will be goals, resources, competitive analysis, the economy, the environment, legal and regulatory items, and culture. First, Tuppeny will label each as a strength, weakness, opportunity, threat, or trend with explanation. Once Tuppeny determines the type of force and trend each area is, a brief critique on how well Tuppeny will adapt to change, and an analysis of Tuppeny’s supply chain operations will assist in determining possible additional issues and opportunities. Of the issues, Tuppeny will generate a hypothesis and questions surrounding each. Therefore, Tuppeny will identify circumstances surrounding each issue, it will classify the circumstances, it will attribute the importance of each classification, and it will test the accuracy of the importance for each classification. Goals A primary strength of Tuppeny’s is goals. Tuppeny is very goal-oriented. As discussed formerly, the company understands the desires of its customers. Providing superior services at affordable prices is a key element of Tuppeny’s; and therefore, Tuppeny believes it to be a strength.
STRATEGIC PLAN, PART II: SWOTT ANALYSIS 3 Resources A primary weakness of Tuppeny’s is its resources.
Currently a desire, the company lacks the necessary funds to startup such a business. Ultimately, many means of business funding exist, but resources definitely will need attention, as monetary resources are not the only resource the company must consider. Proper staff, office equipment, supplies, and other items are considerations Tuppeny must address before startup can begin. Thus, resources is a substantial weakness of the company. Competitive Analysis As Tuppeny previously assessed differences between its company and competitors, such a competitive analysis can be an opportunity for the company (Competitive Analysis, n.d.). Ongoing analysis could further strengthen the company’s opportunities to succeed. Understanding successful traits of competitors can provide Tuppeny with an edge. Although other companies can use competitive analysis as well, Tuppeny believes it has the advantage in the primary focus the company places on such a force. The Economy Tuppeny believes the current economy to be a threat. With many individuals out of work, and many businesses failing, the economy may hurt businesses and their ability to spend even minimal prices on a possible necessity. In these troubled times, companies often can only afford minimum pay, and many qualified applicants are accepting such pay just to have a job. If Tuppeny can manage a way around this primary threat, Tuppeny could survive. Furthermore, possible internal pay costs may be slightly lower to compensate for less business in this economy
. A possible lack of the ability to provide the best benefits to Tuppeny’s employees may become a problem (Pepperdine University, 2009-2010).
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
If Mr. Ishaq is the Director of Lexus Company in Nizwa, what does he need to do to predict customer sales or product demand?
a.
Forecasting
b.
Marketing
c.
Production
d.
Coordination
arrow_forward
The weekly meetings of Lyle's staff have had little attendance, and those who attend usually do multitasks instead of paying attention. Using the research cycle, Lyle discovered that the problem is that the time of the staff meeting coincides with the delivery date of the weekly financial reports.
Read the following possible courses of action and decide what is the BEST way for Lyle to handle the situation and what is the WORST way for him to handle the situation?
1. Inform staff that your meeting has more priority than the reports of the finance department.
2. Change the meeting time of the staff until after they submit the weekly reports and see if improves assistance and focus.
3. Cancel staff meetings so that the team can concentrate on completing their financial reports.
4. Allow staff to continue performing multiple tasks so that they can attend their meeting and do the financial reports.
arrow_forward
The SWOT is
Select one:
a.
A business strategy used to summarise the key components of the company strategic environments
b.
A business or strategic planning technique used to outsource the key components of the company strategic environments.
c.
A business or strategic planning technique used to summarise the key components of the company strategic environments
d.
A business or strategic planning technique used to select the key resources of the company strategic environments.
arrow_forward
An information system (IS) auditor was asked to review the alignment between information technology (IT) and business goals for Cachero, a small but rapidly growing financial institution. The IS auditor requested information including business and IT goals and objectives; however, these were limited to a short, bulleted list for business goals and PowerPoint slides used in reporting meetings for IT goals. It was also found in the documentation provided that over the past two (2) years, the risk management committee (composed of senior management) met on only three (3) occasions, and no minutes of what was discussed were kept for these meetings. When the IT budget for the upcoming year was compared to the strategic plans for IT, it was noted that several of the initiatives mentioned in the plans for the upcoming year were not included in the budget for that year.
The IS auditor also discovered that Cachero does not have a full-time chief information officer (CIO). The
organizational…
arrow_forward
There are several steps in the planning process. Review the variations shown in the table below. Which list is correct?
A
1. Analysis + mission strategy
2. Mission + goals plans
3. Operational goals > tactics
4. Strategic plans > tactical plans
5. Tactical goals > operational goals
6. Strategic goals > operational
plans
B
1. Analysis + mission strategic goals
2. Mission strategic goals > plans
3. Strategic goals + plans > tactical goals
4. Plans + tactical goals > tactical plans
5. Goals tactical plans > operational
goals
6. Tactical plans + operational goals >
plans
Which list of steps reflects the best order for the planning process?
A
O
B
с
O O
с
1. Tactical plans lead to strategic goals.
2. Strategic goals lead to strategic plans.
3. Plans are based on tactical goals.
4. Plans are based on operational goals.
5. Goals based on environmental
analysis.
6. Analysis determines the mission.
arrow_forward
128) Briefly explain the difference between lagging indicators and leading indicators.
129) Explain how business planning helps managers in a firm.
130) Compare and contrast strategic planning and operational planning.
arrow_forward
Q1: Describe planning as a five-step process (with examples)Q2: Explain how managers use planning techniques to evaluate the opportunities and threats in the organization’s environment and formulate strategy. Q3: Differentiate among corporate-level, business-level, and functional-level strategies.Q4: Differentiate between programmed and nonprogrammed decisions, and explain whynonprogrammed decision making is a complex, uncertain process.
arrow_forward
Related Course Objectives:1. Assess the role of marketing research in the design and implementation of a successful marketing programme 2. Develop research strategies that will provide sound and reliable inquiry into customer characteristics and needs3. Design research instruments and procedures that will properly collect important information4. Produce report that incisively informs management and makes recommendations to resolve issues and problemsAssignment Description and Instructions:Please study the case scenario below and propose an approach to address the needs and find solutions. Your report should:1. Include four (4) research objectives2. Describe the research design. Use three (3) qualitative methods: Focus Groups, Depth Interviews and Netnography.For each give the following details:a. Participantsi. numbers, gender, age, how selected; Justify eachb. Interviews i. how many, the setting & process, length of time; Justify eachii. questions/discussions held related to the 4…
arrow_forward
Complete a SWOT analysis the on ABC Corporation.
Strategic Analysis Data: This includes information generated during the external analysis (e.g., environmental scan) and internal analysis (e.g., SWOT analysis). It also includes a list of strategic issues identified during these analyses.
arrow_forward
This discussion is associated with the Navigate 2 Scenario - Episode 4: How are we doing?
It’s time for a marketing audit! The Health Care System wants to see how responsive they are to market needs and preferences, and if their marketing strategies are showing a good return on investment. You have been brought in as an objective party to perform this audit. During this episode, you need to identify the right people to be in the interviews and choose the best questions to ask from the following categories. Identify who the stakeholders are in the interview and who are the best people to ask questions regarding the following categories (choose 3 categories). What are the questions you will ask?
Market and market segments
The organization
Competitors
Products and services
Price
Promotion
Channels of distribution
arrow_forward
After operating for some time and having evaluated the finances to project the sales of the business, it is necessary to think that, as a business owner, you must establish a strategic marketing plan which gives you a better idea about the market and business opportunities. growth in the industry.
For this reason, in this task you will develop a strategic marketing plan for your coffee shop business. The plan must contain the following elements:
a) Executive Summary
i) Summarize all the most important aspects of your strategic marketing plan.
b) Our client (buyer person)
i) Describe the different types of customers the business appeals to.
c) Product or service
i) Evaluate the product or service according to the market need.
ii) Defines the branding elements of the business.
arrow_forward
Determine the type of business analytics for the following scenarios.
A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.
arrow_forward
Which of the following is correct about SWOT analysis?
a.
Weakness and threats are external factors to the business
b.
Strength and weakness are internal factors to the business.
c.
Strengths and opportunities are internal factors to the business
d.
threat is internal and weakness is external
arrow_forward
If Mr. Ishaq is the Director of KIA Company in Nizwa, what does he need to do to predict customer sales or product demand?
a.
Production
b.
Marketing
c.
Forecasting
d.
Coordination
Clear my choice
arrow_forward
Manny is the Marketing Director for a children’s clothing line. He recently met with his boss, the Chief Marketing Officer, who walked him through the company’s new five-year strategic plan and the specific goals for his department. To evaluate whether goals were met, Manny must develop a list of “success metrics” and measure those throughout the course of the year and develop remediation plans if goals get off track. Manny’s work is an example of which of the functions of management?
a. Controllingb. Leadingc. Organizingd. Planninge. None of the above
arrow_forward
SWOT analysis is a framework for analyzing the internal and external environment of a company. It consists of strengths, weaknesses, opportunities and threats. According to a SWOT analysis, which of the following is not an aspect that the company's strategy should follow?
a. take advantage of their weaknesses
b. remedy weaknesses or work around them
c. take advantage of the opportunities presented by the environment
d. protect the company from threats
arrow_forward
Both the bottom-up and the top-down approaches can be used to forecast sales. When might you prefer the bottom-up approach? When might you prefer the top-down approach?
arrow_forward
Help
arrow_forward
5. it is a tool that allows managers to make educated estimates on revenue and cost of the business in order to cope with uncertainties of the future
a.estimating
b. guesing
c. forecasting
d. benchmarking
arrow_forward
The following are the factors contributing to the weaknesses in SWOT analysis, except____.
Select one:
a. economic slump
b. product disadvantages
c. lack of capital
d. inexperience employees
arrow_forward
From the Research Topic and Research Questions below kindly provide an "Introduction" for the Research Proposal using the following structure: -.
Background information
Problem statement or research question
Objectives or aims
Significance of the study
scope and limitations
Methodology
Structure of the paper
"An Analysis of the factors influencing Recruitment, Selection and Retention of Public Sector Workers in Montserrat."
What are the challenges that exist in the Montserratian public sector that influence the recruitment, selection and retention of workers?
What steps are currently being undertaken to correct the identified challenges in the recruitment selection and retention practices in the Montserratian public service?
What are the perceptions of public servants of the recruitment, selection and retention policies and practices in the public service of Monserrat?
arrow_forward
Scenario: Lee is the owner of Lee's [business type selected by your instructor], which is located in the city
closest to where you live. Lee has now hired you to design the basic components of a marketing strategy for
her business.
Instructions: Summarize a marketing strategy for Lee's addressing each part. You can view Parts 1-3
you completed in Unit 1 concerning the mission, situation analysis, and marketing objectives. This week you
will complete Parts 4-6 below to submit your final assignment to the Unit 2 Dropbox.
Checklist:
Part 4: Marketing Strategy
⚫ Describe the target market strategy for Lee's business. Paint a very clear picture of who Lee will be
targeting for her product. For example: Appealing to an entire market, concentrating on one particular
segment, or multiple market segments.
• Explain the four strategies for growth: market penetration, market development, product development,
and diversification. How can Lee use market penetration to increase her sales? Explain.
⚫…
arrow_forward
12.
Define the seven steps in the strategic planning process:
a. Organizational mission:
b. Strategic business units:
c. Marketing objectives:
d. Situational analysis:
e. Marketing strategy:
f. Tactical plans:
g. Results:
arrow_forward
Strategic plan of the Scottsdale Police Department:
Components of SWOT analysis present
Technology and/or social media addressed
Futures (predictions) used in the plan
Justifications and assumptions for strategies are adequately articulated
Measures support and ensures follow-through and implementation of strategies
Potential limitations or challenges with the plan
arrow_forward
Use the guiding questions below to develop recommendations based on the June budget to help the manager of the marketing department
• How does the master budget help the manager understand the company’s external environment and the impact the environment have on the marketing department?
• How does the budget help the manager with forecasting?
arrow_forward
How you will differentiate planning from forecasting? Support your answer through adequate reasoning in bulleted form
arrow_forward
Predictive Data Analytics - Forecasting tools are used to predict how a sample population is going to behave based on past precedent. A classic example is forecasting stock prices or predicting consumer behavior
Descriptive Data Analytics - Simply put, it is a numeric that represents a variable. Your book states that the world Population is 7-Billion in 2015.....this is descriptive. Or gas prices today are $3.50 per gallon
Prescriptive Data Analytics - Like your book states, it is a methodology that seeks to make decisions (prescription) based on Descriptive data. The most classic example is the U.S. Census. Census Workers go from door-to-door asking people in households questions such as "how many people live in your home?" "What are their ages?" "What are their gender". The answers to these questions provide the U.S. Government with the information they need in order to provide services that will support the Constituency in a particular geographic region or area.
Of the 3 types of…
arrow_forward
How do you say "predictive analysis," and what is it? Describe how this might be used.
arrow_forward
I need type answer. . How do the integration of strategic foresight, stakeholder engagement, and data-driven decision-making enhance the multifaceted skills required for effective business goal setting in a dynamic and globally competitive environment?
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Related Questions
- If Mr. Ishaq is the Director of Lexus Company in Nizwa, what does he need to do to predict customer sales or product demand? a. Forecasting b. Marketing c. Production d. Coordinationarrow_forwardThe weekly meetings of Lyle's staff have had little attendance, and those who attend usually do multitasks instead of paying attention. Using the research cycle, Lyle discovered that the problem is that the time of the staff meeting coincides with the delivery date of the weekly financial reports. Read the following possible courses of action and decide what is the BEST way for Lyle to handle the situation and what is the WORST way for him to handle the situation? 1. Inform staff that your meeting has more priority than the reports of the finance department. 2. Change the meeting time of the staff until after they submit the weekly reports and see if improves assistance and focus. 3. Cancel staff meetings so that the team can concentrate on completing their financial reports. 4. Allow staff to continue performing multiple tasks so that they can attend their meeting and do the financial reports.arrow_forwardThe SWOT is Select one: a. A business strategy used to summarise the key components of the company strategic environments b. A business or strategic planning technique used to outsource the key components of the company strategic environments. c. A business or strategic planning technique used to summarise the key components of the company strategic environments d. A business or strategic planning technique used to select the key resources of the company strategic environments.arrow_forward
- An information system (IS) auditor was asked to review the alignment between information technology (IT) and business goals for Cachero, a small but rapidly growing financial institution. The IS auditor requested information including business and IT goals and objectives; however, these were limited to a short, bulleted list for business goals and PowerPoint slides used in reporting meetings for IT goals. It was also found in the documentation provided that over the past two (2) years, the risk management committee (composed of senior management) met on only three (3) occasions, and no minutes of what was discussed were kept for these meetings. When the IT budget for the upcoming year was compared to the strategic plans for IT, it was noted that several of the initiatives mentioned in the plans for the upcoming year were not included in the budget for that year. The IS auditor also discovered that Cachero does not have a full-time chief information officer (CIO). The organizational…arrow_forwardThere are several steps in the planning process. Review the variations shown in the table below. Which list is correct? A 1. Analysis + mission strategy 2. Mission + goals plans 3. Operational goals > tactics 4. Strategic plans > tactical plans 5. Tactical goals > operational goals 6. Strategic goals > operational plans B 1. Analysis + mission strategic goals 2. Mission strategic goals > plans 3. Strategic goals + plans > tactical goals 4. Plans + tactical goals > tactical plans 5. Goals tactical plans > operational goals 6. Tactical plans + operational goals > plans Which list of steps reflects the best order for the planning process? A O B с O O с 1. Tactical plans lead to strategic goals. 2. Strategic goals lead to strategic plans. 3. Plans are based on tactical goals. 4. Plans are based on operational goals. 5. Goals based on environmental analysis. 6. Analysis determines the mission.arrow_forward128) Briefly explain the difference between lagging indicators and leading indicators. 129) Explain how business planning helps managers in a firm. 130) Compare and contrast strategic planning and operational planning.arrow_forward
- Q1: Describe planning as a five-step process (with examples)Q2: Explain how managers use planning techniques to evaluate the opportunities and threats in the organization’s environment and formulate strategy. Q3: Differentiate among corporate-level, business-level, and functional-level strategies.Q4: Differentiate between programmed and nonprogrammed decisions, and explain whynonprogrammed decision making is a complex, uncertain process.arrow_forwardRelated Course Objectives:1. Assess the role of marketing research in the design and implementation of a successful marketing programme 2. Develop research strategies that will provide sound and reliable inquiry into customer characteristics and needs3. Design research instruments and procedures that will properly collect important information4. Produce report that incisively informs management and makes recommendations to resolve issues and problemsAssignment Description and Instructions:Please study the case scenario below and propose an approach to address the needs and find solutions. Your report should:1. Include four (4) research objectives2. Describe the research design. Use three (3) qualitative methods: Focus Groups, Depth Interviews and Netnography.For each give the following details:a. Participantsi. numbers, gender, age, how selected; Justify eachb. Interviews i. how many, the setting & process, length of time; Justify eachii. questions/discussions held related to the 4…arrow_forwardComplete a SWOT analysis the on ABC Corporation. Strategic Analysis Data: This includes information generated during the external analysis (e.g., environmental scan) and internal analysis (e.g., SWOT analysis). It also includes a list of strategic issues identified during these analyses.arrow_forward
- This discussion is associated with the Navigate 2 Scenario - Episode 4: How are we doing? It’s time for a marketing audit! The Health Care System wants to see how responsive they are to market needs and preferences, and if their marketing strategies are showing a good return on investment. You have been brought in as an objective party to perform this audit. During this episode, you need to identify the right people to be in the interviews and choose the best questions to ask from the following categories. Identify who the stakeholders are in the interview and who are the best people to ask questions regarding the following categories (choose 3 categories). What are the questions you will ask? Market and market segments The organization Competitors Products and services Price Promotion Channels of distributionarrow_forwardAfter operating for some time and having evaluated the finances to project the sales of the business, it is necessary to think that, as a business owner, you must establish a strategic marketing plan which gives you a better idea about the market and business opportunities. growth in the industry. For this reason, in this task you will develop a strategic marketing plan for your coffee shop business. The plan must contain the following elements: a) Executive Summary i) Summarize all the most important aspects of your strategic marketing plan. b) Our client (buyer person) i) Describe the different types of customers the business appeals to. c) Product or service i) Evaluate the product or service according to the market need. ii) Defines the branding elements of the business.arrow_forwardDetermine the type of business analytics for the following scenarios. A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage LearningEssentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage LearningAccounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
- International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education