SWOTT Analysis
The proposed SWOTT Analysis is prepared for the Beauty Line Organization. The report will present an analysis of external and internal environment and various recommendations for the firm to improve its profitability.
SWOTT ANALYSIS TABLE
Factors Strength Weakness Opportunity Threat Trend
External Factors
Legal and Regulatory Certified and Licensed products High involvement of government and legal regulations Expansion of business due t the certification and authorized products
Continuous changes in the policies and regulations Quality and standard products
Economic Strong US Economy Recession in the economic environment
Market Expansion in the rich economic area Economic Crisis High annual income of the consumers
Global International Market beyond national boundaries Lack of knowledge and Experience Demographical and geographical expansion in the global market High competition Low tariff and on-tariff barriers
Social Enough tangible and intangible resources Low brand recognition in critical competitive environment Wide range of products and services Changing requirements and demands High use of beauty products for and solutions to nourish the skin
Internal Factors
Strategy Planned growth strategy and cost leadership Lack of experience among the employees High class and Middle class segments Lack of competitive advantage due to the high number of players Implementation of HRM and TQM strategies
Culture Workforce Diversity Lack of marketing tools to promote products in different cultural environment Can tap multiethnic populations and provide integral practices Cultural Conflicts Difference in culture will lead expansion in global market
Leadership Participative and Dynamic ...
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... to improve knowledge of the employees and motivate them to achieve the objective on time. Development of various strategies on the basis of the market research would help the firm to develop organization culture (Ryall & Craig, 2003).
Company should also improve its leadership programs, performance appraisal and incentives for the employee to cope up with the organization’s strategies (Wheelan & Hunger, 2004). Internal factors of the firm are also very strong to achieve the mission and objectives of the firm on time. Effective leadership strategy and multidimensional cultural environment are the driving forces for the firm to gain new heights of success.
Thus, the evaluation of strength and opportunities would help the firm to decrease the degree of its weakness and threats and fulfill the mission and vision of the company by utilizing its resources effectively.
A SWOTT analysis is used to present a detailed picture of the health of a company. This tool can be used to tune up or diagnose and repair issues that are worn or in the process of becoming faulty. Managers have access to a tool that will allow them to effectively evaluate and make decisions. The SWOTT analysis can ensure that issues are identified and classified so they may be prioritized properly. The problem is shown so managers can see the answer.
Ulta Beauty is the largest beauty retail store in the United States. They specialize in cosmetics, fragrances, skin, hair care products, and salon services. Ulta Beauty has been in business for 25 years and has grown to be top in their industry. With a wide selection of beauty products their slogan is “all in one place”. The contents within this paper will be providing a SWOT Analysis for Ulta Beauty. It is important to evaluate the ins and outs of a company to provide valuable information on the standings and future standings of the company. It also provides insight to develop strategies for long-term growths and shows potential threats that may hinder the bottom line.
Leadership is defined as the action of guiding an individual or group of people. Effective leaders shape the behavior and thought process of the individuals around them. As a result, the success of an organization is often impacted by the leadership style and approach of its leaders. Even when engaging with multiple people, impactful leaders maintain their own style of leadership but occasionally change their approach based on the motivational needs of each individual. However, regardless of the style, leadership within an organization is designed to drive the performance of their employees and it is done through proficient communication. This guidance influences the culture of an organization, which subsequently, helps to shape its leaders.
Suddenly, some companies become extremely successful, while rest of them unfortunately remains a failure. There can be off-course a lot of reasons for this failure but one of the main reasons is lack of leadership qualities. There are many s...
Organizations need strong leadership and strong management to challenge the status quo, create visions of the future and inspire/motivate members.
How are we going to use them to attract new customers or increase the number of products that existing customers buy? What are our Threats? How are we going to minimise them so that they do not affect sales of our products? Here are the advantages and disadvantages of using a SWOT analysis. Advantages Identified strengths (value for money).
To help staff understand the complexities of the early phase of organizational development. The manager must provide a clear understanding of the purpose of the organization to the employees. Emphasizing the importance of recognizing the direction the company is going and how its methods of working can be improved. Plus, explaining the identification of general objectives would lead to the clarification of responsibilities and purpose at each level of the organization. When a manager discusses these issues with his team, he is encouraging ownership by the employees. (Moore, 2004)
First you need to identify the organization’s internal and external resources, organization’s strengths and weaknesses as compared to its competitors and the opportunities it has for better utilization of resources.
...ompletes an analytical assessment of a firm. A firm establishes its competitive building by investing scarce resources again and again in its value-added activities. By doing this the organizations will be able to give rise superior products and services that the buyer's desire and continue to grow the business and adhere to its strategic plan once implemented.
It is important to identify some of the problems an organization may have and go in and analyze them. There are many techniques that can be approached to help gain businesses people side of management like improving rapid response to customer service needs, low employee output, and costs. Change is not easy for some people, so making sure employees understand why change is needed helps people to become more aware and have the time to adjust or process those changes.
Whether or not a company is attains acclaimed success lies not in the fact that it spends huge amounts of money on Research and Development, rather, and as stated by Bauer and Erdogan (2010), success is determined principally by the people within hat specific organization; they are the assets whose output resonates wit he company’s success. However, while this is an established fact, it is also important to state that both the organization and the people who constitute it mutual impact arriving at collective success. Therefore, as Bauer & Erdogan (2010) continue to assert, it is necessary to understand how people relate at work both at the individual and group levels, and how the organization is impacted by this interrelationship. This is what Bauer & Erdogan (2010), define as organizational behavior. It informs on what is wrong, and what is correct; essentially assisting one as an employee become ore engaged in work. Leadership or governance is one of the constituent components of organizational behavior. More often than not, it is usually associated with power, ethos, and cultural inclinations of the organization. This paper seeks to examine in-depth, management problems associated with leadership and governance at Hewlett-Packard and how it impacts on the company’s organizational culture and behavior.
Every good leader has successful skills to accomplish a common goal within an organization. Although the term leader is often intertwined with the manager; a leader’s characteristics are rarely the same in responsibilities. Leaders are developed by the type of organizational cultured that they are derived in. Thus, bringing the skills to designed changes rather than only promote changes as often may be seen in managers. Leadership is then the support of employees by offering a clear concise understanding of an organization needs and therefore brings balance to the task and the relationship of the employees. So what is the purpose of the leadership? To serve others while transforming the company’s mission into actually obtainable goals while all the while overcoming situational
Leadership, without doubt, is a significantly important function of management. It helps to aggrandize efficiency and to fulfil an organization’s goals. Leadership is the ability of a manager to induce the subordinates to work with confidence, determination, courage and zeal. It is also defined as ability to influence a group towards the realization of a goal. Leaders should have the capability of developing future visions, and to drive the organizational members to want to attain the visions. This paper states my points in which I duly believe, justifies the importance of an outstanding leader in any organization.
It brought organisational culture to the performance of a company, which has become a critical topic in management department. In addition to organisational culture, organisations need to be aware and prepared for changes in the expanding workforce as business grows. Companies are faced with maximizing benefits as well as profits while minimizing negative factors that come from those changes. There is no one answer to the issue, but some of the guidelines are clear. Awareness of organisational culture, teamwork, individual performance, external environment adaptation, leadership, and measurement of organisational culture are key factors that lead a company to perform better.
It is important for organisations to achieve their goals, as this can assist them to reach a competitive advantage, which is a highly attractive position for a firm to be in.