Essay on Swot Analysis : Strategic Planning

Essay on Swot Analysis : Strategic Planning

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Introduction
Companies put in place corporate strategies in order to expand their current business line, to remain competitive or ahead of the competition and most importantly to fulfill their mission statement. According to Bird & Smith (2015), strategic planning clarifies the organization’s purpose, and determines the future. Therefore, identifying the organization’s strengths and weaknesses is an integral step in this process.
As will be discussed further, these strengths and weaknesses will be identified through a SWOT analysis. Out of this analysis, an organization can identify an opportunity to be explored. As a result, a PIC (Product Innovation Charter) is created by senior management. According to Crawford & Di Benedetto (2011), the PIC will serve as a guide to the business regarding the innovation that will occur. This paper will create a SWOT analysis as well as a PIC for Alexander Mann Solutions, a RPO company.

SWOT Analysis
The SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of an organization is the analysis of internal factors (strengths, weaknesses) and external factors (opportunities, threats), that impact the organization’s functions. The SWOT analysis can be used by both existing and new businesses. As the market continues to change and evolve, companies should be able adapt to these changes. Therefore, existing businesses use the SWOT analysis in order to keep informed of the different changes and assess the changes that has been made in order to remain competitive. It is recommended that a SWOT analysis be conducted at least once a year in existing businesses. On the other hand, new businesses conduct a SWOT analysis in order to begin their strategic planning process. They must know their str...


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...e provider in the United Kingdom in order to penetrate new markets as well as introducing new products and services.

Conclusion
According to Berry, a well conducted SWOT analysis will assist the organization in developing a business strategy that is market oriented. The internal factors of an organization include the following: reputation, location. The external factors of an organization include the following: prices, competitors. Identifying a specific strength of the company and an opportunity in the market allows the company to develop a strategic plan to address the opportunity. The marketing plan will be developed based on the information from the SWOT analysis. This information gathered allows the company to segment the market in order to target a specific group. According to Gaile-Sarkane, 2010, the group of customers represents the identified opportunity.

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