Taking Commerce 101 : Busines Fundamentals

Marketing plan is always based on information regarding product, customers, market and competitors. The best way to analyze all this information is through a SWOT analysis. SWOT stand for strengths, weaknesses, opportunities and threats. This analysis takes into account both internal and external factors, internals being strengths and weakness, and external being opportunities and threats (Kotler & Keller, 2009).

'How do the main functional areas of a business interact and contribute to its effective management?'

Based on this, how should management and leadership be addressed for each type of business?

The Business Strategy and Policy course relies on conceptual and analytical skills to examine the challenges of firms. We apply and integrate analytical techniques from accounting, finance, management, marketing, economics, and related business disciplines. Two capabilities are of particular importance: (1) the ability to critically evaluate the profit potential of industries or environments and deal with the threats and opportunities presented by each; and (2) an

Throughout high school, I have studied a variety of economic concepts and taken part in activities such as Business Club and Economics Club to understand the effects of business on society and enable progress in society by giving job opportunities to those in need and solving its pressing issues.

The following SWOT analysis encompasses the strengths and weaknesses to which the logistic and strategic components of the marketing plan will be tailored to address from the internal business

* Finance is the study of how people and businesses evaluate investments and raise capital to fund them. Our interpretation of an investment is quite broad.

Academically, I want to have insight on all related processes that go into a business and its decisions

As a whole the book presents a wealth of business savvy, essential to businesses of any level, ranging from the novice entrepreneur to the experienced business executive. Within this book, which is part business primer, part psychology lesson, part biology

I am a MBA student taking different courses to develop a great understanding of the various aspects that businesses entails. I want to be well –versed in a variety of other areas that will make me confident in my career.

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

The SWOT analysis is business analysis method that business can use for each of its department when deciding on the most perfect way to increase their business and future growth. This procedure identifies the internal and external strengths, weaknesses, opportunities and threats that are in the markets.

I also got to learn about the skills and characteristics of a entrepreneur. You need lots of traits to be a entrepreneur. You need to be able to be flexible and self-reliant, be able to structure yourself is very important. You must be confident and be able to take risks, being an entrepreneur means knowing when to take action and when not too. You have to have traits like patience and creativity, a entrepreneur must be able to be resourceful and must be able to see problems when they occur. You have to be able to work

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.[1]

SWOT analysis is widely used by corporation all over the world to help them in developing their corporation’s business strategy. It is a normal practice that when we conduct business strategy, the main point that we will look into is the strength and weakness that leads to the profit and loss of the corporation. How we tackle the strength and weakness are by conducting study on the opportunities and threats seen surrounding.