Strategic Plan Part II SWOTT Analysis sample

.pdf

School

University of Phoenix *

*We aren’t endorsed by this school

Course

475

Subject

Business

Date

Jan 9, 2024

Type

pdf

Pages

7

Uploaded by GrandWaterBuffalo3888

Report
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