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SWOTT analysis

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SWOTT Analysis

SWOTT for external and internal environmental forces for proposed business. "My proposed business is an event planning company."

SWOTT Analysis

Conduct an internal and external environmental analysis for your proposed business. Using the information obtained from your internal and external analysis. List assignment, create a SWOTT table summarizing your findings. Your environmental analysis should take into account, at a minimum, the following factors. For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.

a. External forces and trends considerations:
1) Legal and regulatory
2) Global
3) Economic
4) Technological
5) Innovation
6) Social
7) Environmental
8) Competitive analysis

b. Internal forces and trends considerations:
1) Strategy
2) Structures
3) Processes and systems
4) Resources
5) Goals
6) Strategic capabilities
7) Culture

Prepare a synopsis in which you analyze at least seven of the forces and trends from the list above. Your analysis must include economic as well as legal and regulatory forces and trends. Your synopsis should identify the major decisions and recommendations for your selected forces and trend,critique how well the organization adapts to change. Identity issue and/ or opportunities that the company faces based on your analysis above. Generate a hypothesis surrounding each issue, classify the circumstances, attribute the importance for each classification.

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Solution Preview

The response addresses the queries posted in 2989 words with references.

//As per directions in this paper, we will talk about SWOTT Analysis that is linked to internal and external forces & trends of the environment for a company. This can be accurately done by having a good understanding of the proposed business i.e. Event Planning Company. So, firstly we will write about the proposed business under the heading of introduction, for example: //

Introduction:

Event Planning Company is quite new business that organizes any occasion or event in a way the customers desire to perform. It offers systematic planning for several occasions like festivals, ceremony, anniversaries, birthday parties, wedding, convention, etc. The main motive of this business is to give a large number of imaginative or creative themes and contribute in the current trends & styles in the setting of their customers (Any Event, 2001).

The vision of this planned business is to convert each & every event into a kind of loveable memory for the all who are present at the function that unceasingly facilitates in the business growth & success. In the today's modern environment, a business wants to get the name & fame and also good image in the consumer's mind. In addition to this, a company also provides such kind of services that makes the host of the party free from all worries and concerns associated to an event operation (Any Event, 2001).

//Above, we talked about Event planning company, which is quite a new business. In this part, the detail discussion of the proposed business is continued with the environmental factors analysis that is judged to pretend the company's operations. As per directions, in this part we will talk about the legal and regulatory and economic external forces & trends affecting the firm's business in a detailed manner

External Forces and Trends:

For the external analysis of Event planning Company, the selected external forces & trends mainly consider the economic forces, legal & regulatory forces, technological forces and global forces. Proper analysis of external environment empowers the company to obtain the clear view of threats & opportunities that is predominant in the external environment (Olsen, 2005).

Legal & Regulatory: Legal & Regulatory is the major external trend & force that is to be analyzed by Event planning company as it provides the overview of licensing requirement & tax payments.

· Strength: The stable or flexible legal & regulatory force & trend empowers the company to attain its purposes with good government assistance and also easily accomplish success & growth.

· Weakness: Dynamic changes in legal & regulatory rules arouse hindrance in the company's work as it has to make frequent chances in its policies according to the laws.

· Opportunities: Improved legal & regulatory force will overlay the way for the company to easily conquer the larger portion of market share and evaluate the market value.

· Threat: Loss of customers is the major threat as the company has to confront because of dynamic changes in the legal & regulatory laws.

· Trends: The trend shows an improvement as the legal & regulatory laws as it turn more rigorous with changing regime.

Adaptation for Change: To easily adjust the change, the company should devise such type of flexible policies that can enable it to easily comply with legal & regulatory varies.

Economic: Economics is another vital force & trend that need to consider because it facilitates in the business decisions like what to offer and how to price.

· Strength: Good economic conditions induce low burden of tax on the company that ultimately alleviates in improving value for shareholders.

· Weakness: A high fluctuation in economic conditions is the major weakness that affects the company's operations.

· Opportunities: A good rate of economic growth paves the way for the expansion and outgrowth of the company.

· Threats: Downswing in the economic conditions will badly affect the business processing.

· Trends: It is regular phenomenon as it induces continuously to influence the business functions.

Adaptation for Change: To effectively cope up with the changing economic conditions, Event planning company has to preserve a large amount of funds for future eventualities.

//Moving to the next part of instructions now we will talk about other external forces & trends i.e. global and social forces. You are free to add more in this part, which you find suitable. I am just providing you a brief overview to raise your knowledge.//

Global Forces: Global forces helps in accomplishing competitive advantage as it furnishes the detailed knowledge about the various documents and bureaucratic formalities related to all the fields, human resources, marketing, finance, etc. (Thompson, 2006).

· Strength: There is great extent of business expansion in the global marketplace as service of event planning is highly demanded by the foreign customers.

· Weakness: Business has to comply with the vast areas of complexities i.e. different labor mix, marketing strategies, etc.

· Opportunities: ...

Solution Summary

The response addresses the queries posted in 2989 words with references.

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