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.
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.
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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- 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.... [tags: Strategic management, Management, SWOT analysis]
1361 words (3.9 pages)
- Opportunities and Threats The second and third components of the strategic planning process include performing an internal and external analysis in determining organizations strengths and weaknesses, as well as their opportunities and threats; these link to the next section of strategic planning and is commonly referred to as a SWOT analysis. As illustrated by Hill, Jones, & Schilling (2014), to assist organizations in choosing future strategies, they can perform a SWOT analysis to determine its strengths; weaknesses, opportunities and threats (p.... [tags: Strategic management, Amazon.com, Cloud computing]
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846 words (2.4 pages)
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- Introduction The attempt for this paper is to explain the usefulness of the SWOT analysis and the Planning Cycle while strategically addressing the following issues. This client would like to know what are the possible off-line costs and will there be too many employees off-line at once. The aforementioned is important to the client before approving a diagnostic plan. She also expressed the following concerns that are causing inter-group conflict. This client stated that the sales reps have been making promises that hinder the fulfillment process.... [tags: Management, Strategic management, Strategy]
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945 words (2.7 pages)