2 Methods of Business Analysis

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The first tool that can be used is the SWOT analysis. This is a tool that helps a company define and look at their Strengths, Weaknesses, Opportunities and Threats on mostly an internal level. A company uses this tool to dissect the areas that they exceed in and the areas of improvement, the areas of opportunity they can take advantage of and where other companies can pose a threat to their business. This is a powerful tool that can, with a little thought, help a company uncover opportunities that are well placed for exploitation by the organization (Manktelow & Carlson, n.d.). This tool also helps a company understand its weaknesses and in turn manage and eliminate threats that could catch the organization unaware. The following are…show more content…
This is not a before and after comparison, but rather a with or without comparison. Several factors go into a cost benefit analysis, these include the cost of the equipment, power consumption of the equipment, units produced per hour, the labor costs (before and after) installation, quality of production – reject/recall rate or margin of error of products produced, the floor space needed to make the improvement (will it fit into the old space), installation costs of the machinery, operator costs, and environmental factors like is the machine louder and neede to soundproofed or insurance premiums for the new machinery (about.com). When looking at the scenario from this perspective it turns the decision into a definite financial situation on whether to make the changes. Another item that needs to be taken into consideration is if the new technology is proven and potential for failure and flexibility. If the new technology fails then a company has to revert back to old method of production at an increased expense. Process flexibility results from being able to build different products from the same production line with minor adjustments (Priniciples, n.d.). These tools would prove very beneficial to FFI in the fact that the SWOT is addressing the internal and external factors that do and can affect how FFI does business and help them make their global strategy. The

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