Swot Analysis Strategic Management - 1390 Words

Context Analysis Strategic management is an important part of business planning. It helps create strategies for better performance, profit, and future success. Analysis of both internal and external factors is vital for a company’s proper growth. Culture, the perspectives of the company’s employees, managers, owners and clientele, and the structural and environmental elements that effect the operation of the business are all examined in the strategic management process. The purpose of this paper is to demonstrate how to analyze a company’s strategic management process by examining a privately owned, small and local business. SWOT One of the best ways to analyze the management process of a business is through the SWOT analysis. â€Å"The SWOT†¦show more content†¦Employee Madison Rowland in her interview commented, â€Å"We have homemade products (such as ice cream) and serve more than just snowballs (Rowland, 2015).† Unlike the typical snowball stand who typically sells only snowballs, this business serves malts, shakes, nachos, the usual snowballs, stuffed snowballs, and homemade products such as their ice cream and fruit bars. The food they serve is also of excellent quality and is never rushed in the making. Whereas the majority of stands who are seasonal and only open during the summer, Just Chillin is open all year round and is the only snowball stand in the area that is. They have quite the reputation for their service and products. Customers have been known to come from 30 or 40 minutes away for their snowballs and ice cream. They are said to be the best snowball stand on the Northshore and even have indoor and covered outdoor seating to better accommodate their customers. Weaknesses The next factor is weaknesses. Quite a few times, weaknesses are merely â€Å"the flipside of a strength (SWOT Analysis, 1990-2010).† For instance, a reputation for quality is usually accompanied by a reputation for high prices. Unlike its competitors, Just Chillin has indoor and covered outdoor seating which was earlier considered a strength. However, sometimes they do not have enough to accommodate all of their customers. In which case, thanks to this age where consumersShow MoreRelatedSwots: Strategic Management and Swot Analysis10122 Words   |  41 Pages SWOT usage SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpointsRead MoreSwots: Strategic Management and Swot Analysis10111 Words   |  41 Pages SWOT usage SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpointsRead MoreStrategic Management and Swot Analysis1633 Words   |  7 Pagesï » ¿ Amongst all the novelties, trends, and fashions appearing in the field of strategic management during the last decades, the SWOT analysis, standing for: strengths, weaknesses opportunities, and threats has enjoyed a long lasting popularity among both practitioners and researchers.  The purpose of this essay is to demonstrate that SWOT analysis can be used for both businesses and individuals. In the 60s swot analysis was invented at the Harvard business School for the purpose of analysing caseRead MoreSwot Analysis : Strategic Management1585 Words   |  7 PagesStrategic Management is a set of upper level management decisions and actions that will determines the long term objectives and performance of a corporation. 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This analytic framework helps leaders forecast contingencies and help leaders develop strategies toRead MoreSwot Analysis : Strategic Management Essay1152 Words   |  5 PagesThe term strategic management refers to the recognition and portrayal of the strategies that are pursued by the managers for the achievement of better performance goals and having a competitive advantage. To determine if an organisation has a competitive advantage, its profitability should be focused and analysed if it the measure if above average of all the businesses in the industry. The decisions taken by the management committee of the organization and the acts to decide the outcomes of the business’sRead MoreSwot Analysis : Strategic Management1547 Words   |  7 PagesPESTEL analysis is a tool or framework for marketers. It is very effective when se eking to analyze and screen the external marketing environment of the company. Strategic management tool gauges the macro environmental factors. It is prudent to follow PESTEL framework since different macro-environmental factors can affect a business strategy. PESTEL framework are interdependent of each other, they are dependent factors. Understanding PESTEL is critical prior to entry into a new country. The factRead MoreSwot Analysis : Organizational Strategic Management1744 Words   |  7 Pages SWOT Analysis: Organizational Strategic Management Calvin McLemore St. Thomas University, Miami, FL May 27, 2017 Introduction For this is a SWOT Analysis, this author chose to explore the international retailer IKEA. This organization was chosen because of the emphasis on globalization, international interests and overall functionality of the products. Crandall, Parnell, and Spillan (2013) states that a SWOT Analysis is â€Å"based on a systematic, comprehensive analysis of internalRead MoreCango: Strategic Management and Swot Analysis1501 Words   |  7 Pagesmeetings. We prepared a SWOT analysis to show what the company needs to improve on and what the company can expect in the future. According to Jaja Suteja (2003) â€Å"The SWOT analysis provides information that is helpful in matching the firm s resources and a capability to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection. A scan of the internal and external environment is an important part of the strategic planning process. EnvironmentalRead MoreSwot Analysis : Strategic Planning And Management Essay1304 Words   |  6 PagesCHAPTER IX STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS ANALYSIS Strengths, Weaknesses, Opportunities, and Threats of a particular business venture are the four elements that is being evaluated in the SWOT Analysis. It is a planning method that is usually carried out by a company or organization specifying the objective of the business and identifying internal strengths and weaknesses plus external opportunities and threats that are both favorable and unfavorable to attain that certain objective