SWOTT Analysis and strategic plan for a fictious surf shop
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Strategic Plan, Part II: SWOTT Analysis
Conduct an internal and external environmental analysis for your proposed business.
Discuss with your Learning Team the forces and trends below that must be taken into consideration while developing a strategic plan. Given today's business environment and each Learning Team members' selected business idea, provide a list of the lessons learned from your Learning Team's discussion for each of the items listed below. Use this discussion to complete this 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.
o External forces and trends considerations:
Legal and regulatory
Global
Economic
Technological
Innovation
Social
Environmental
Competitive analysis
o Internal forces and trends considerations:
Strategy
Structures
Processes and systems
Resources
Goals
Strategic capabilities
Culture
Technologies
Innovations
Intellectual property
Leadership
Write a synopsis in which you analyze at least seven of the forces and trends from the list above. Your analysis must include the following:
o Include economic as well as legal and regulatory forces and trends.
o Critique how well the organization adapts to change.
o Analyze the supply chain operations of the organization.
o Identify issues and/or opportunities:
Identify the major issues and/or opportunities that the company faces based on your analysis above.
Generate a hypothesis surrounding each issue and research questions to use for conducting analysis.
Identify the circumstances surrounding each issue; classify the circumstances; attribute the importance of each classification; and test the accuracy of the importance for each classification.
Format your paper according to APA guidelines.
Please see the attached document. The business is a fictious surf shop
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Solution Summary
The response addresses the queries posted in 2451 words with references.
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The response addresses the queries posted in 2451 words with references.
//The SWOTT Analysis related to internal, as well as, external forces of the environment for a company, can be done by having a good understanding of the business of that particular organization. In this regard, prior to perform the SWOTT Analysis, the background and concept of the business is discussed under the same heading.//
Introduction
A group of buddies, who were surfing freak and loved surfing very much, were the ones who thought of Tsunami Surf Shop, that is, they were the ones who brought up the idea of opening a retail shop of surfing products and that too near a beach! This was how the Tsunami Surf Shop was found. The shop is located in Huntington Beach, California and it is widely known as the Surf City. The location of the shop is very close to the beach, almost walking distance, and the shop provides the customers with all the possible stuffs related to surfing as well as some other accessories. The products include the surf boards, boogie boards, bikini, sunglasses, wet suits, surf wear, surf wax, board shorts etc.
The shop aims at establishing a totally different retailing business in the area, achieving a reasonable market share for the surf wear in the city, providing quality surf products, clothing and services to the customers, increasing the number of customers- in shop as well as on-line and achieving profit in the coming year as compared to the previous year.
Like every other company, this shop too, has the strengths, weaknesses, opportunities and threats with respect to several internal and external factors. External factors include legal and regulatory factors, global factors, economic factors, technological factors, innovation, social and environmental factors, while the external factors include the strategy, structure, goals, resources, processes and systems, culture, innovation, leadership etc. The internal and external factors contribute in the development of SWOT analysis for the company, so here too, these factors are taken into consideration in order to perform the analysis and bring out the necessary result.
The external factors that will be taken into consideration for the purpose of analysis are: legal and regulatory, economic, technological and environmental factors.
//The discussion related to this company is continued with the analysis of the environmental factors, which are estimated to affect the business of the company in a great sense. In this series, in the following section of the discussion, the external forces affecting the business of the firm are discussed in a detailed manner with the separate discussion of all the related factors.//
External Forces and Trend Considerations//
SWOTT analysis of Technological factor:
Technological: The complex and the changing environment affect the business both internally as well as externally. It has great bearing on the working and the function of the surfing organization. Adapting the technological changes affects the ability of the firm and increases it access and the market share in the long run.
Strength: The market accesses with the major brands such as Billabong, Quicksilver, Reef, etc that makes it easy to gain a good position in the product market.
Weakness: The adoption of the new automated technology is a critical task for the company in its sales sector.
Opportunity: Company can increase its customer share by making the use of the new invention such as on line stores for its product. It can provide quality services at the reasonable prizes for the stores and on line shop.
Threats: The competitors are posing threats by using the conception of online shopping and store shopping for its customers.
Trends: The use of on-line selling system and automated technology system is increasing with the passage of time.
Recommendation and decision: The Surf Company must essentially make the use of automated technology for carrying out its sales operation. It must also provide additional benefits to its customers by ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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