Essay on Strategic Plan, Part II: SWOTT Analysis BUS/475

2354 WordsOct 9, 201310 Pages
Strategic Plan, Part II: SWOTT Analysis Eduardo Arellano BUS/475 Dr. Tugtekin Gokaydin Octuber 2nd, 2013 SWOTT examination is a crucial systematic device used for evaluating both the external and internal elements, which have an influence over the company. In existing business conditions a corporation uses SWOTT analysis to assess it market standing regarding share of the market, competitive edge, and complete feasibility. SWOTT examination offers a company upgraded information about its achieved and unachievable weaknesses, strengths, possible opportunities, dangers, risks, and business trends. The main elements of SWOTT examination can be split under the heads of external and internal elements…show more content…
However, the BARbershop will have to evaluate or examine the effect of the technology on the company as any mistake can be liable for the company. The growth of technologies both regarding hardware and software carry chances for the company. Innovation factors Innovation is the strength character of the company, depending on the technological inventions and the appropriate economic situations of the industry. The solid point for the BARbershop is to organize revolutionary technology, suitable market research as well as personnel skills. The efficient utilization of the latest technology, company should be provid training for new trends and advances. Upgrading the latest transforming technology and continual invention can be beneficial for the BARbershop. Socio-cultural factors The socio-culture of targeted audience also impacting the company. Alcohol is serve on this establishment; clients over 21 is the target market. The BARbershop is following cultures and values according to the needs of its clients. Its services represent different cultures, attracting clients from different societies. It offers a multicultural service, giving priority to the values of integrity to obtain the full support of its clients. The BARbershop has essential interaction within the community, it

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