forces and trends for a coffee shop and bookstore
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Business is coffee shop and bookstore
Conduct an internal and external environmental analysis for your proposed business. 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
8) Technologies
9) Innovations
10) Intellectual property
11) Leadership
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, which may need to be considered for your business.
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Solution Summary
Conduct an internal and external environmental analysis for your proposed business. List assignment, create a SWOTT table summarizing your findings. Your environmental analysis should take into account, at a minimum, the following factors.
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SWOTT Analysis:
Strengths:
1) Unique concept of combining bookstore with coffee shop
2) High quality products and excellent customer service
3) Competitive pricing
Weaknesses:
1) Lack of resources due to small size/startup mode
2) Lack of experience to compete against established players such as Starbucks
3) Lack of ability to obtain economies of scale, operational efficiency due to small size, shortage of resources, experience and infrastructure
Opportunities:
Opportunity to tap the growing coffee drinking market, unserved territories and target segment that would love to sip coffee along with their favorite book
Threats:
Competitive threat from existing players such as Starbucks
Threat of changes in consumer taste and preferences
Trends:
Consumers are becoming more price sensitive during recession
Consumers want more value for money during today's recessionary economy and seek higher value proposition for every dollar spent
The competition is heating up in the coffee retailing industry.
Let us now analyze seven forces or trends from the above mentioned list.
The first force chosen for this assignment is economic forces. Economic forces have a major impact on the profitability of such coffee and book retailing business because during recessionary times such as the one being suffered by US and global economies today, consumers cut back on their spending and thus, retailers such as coffee and book retailing shops suffer in sales. Further, due to slowing economy, consumers become more careful in spending and want more value from each dollar spent. Hence, our coffee and book retailing business will also be affected by such economic forces. We will need to offer best possible ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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