-Conduct an internal and external environment analysis for your proposed business.
-Discuss the forces and trends below that must be taken into consideration while developing a strategic plan. Given today's business environment, provide a list of the lessons learned from discussions 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.
-External forces and trends considerations:
*Legal and regulatory
-Internal forces and trends considerations:
*Processes and systems
-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:
*Include economic as well as legal and regulatory forces and trends.
*Critique how well the organization adapts to change.
*Analyze the supply chain operations of the organization.
*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.
Please find the guidelines for writing a strategic plan for Green Shop organization attached due to formatting issues with the SWOT tables.
Running Head: ENVIRONMENTAL ANALYSIS OF THE GREEN SHOP
Environmental Analysis of the Green Shop
In business, SWOTT analysis that reflects company's strength, weakness, opportunities, threats and trends also have great significance in accomplishing the objectives (Wheelan & Hunger, 2004). With the proper understanding of SWOTT analysis, organization will assess both the environmental factors i.e. internal and external that endlessly facilitate in attaining the pre-set objectives.
External Forces & Trend Consideration
In the 'External Forces Analysis' organic and natural health food shops the major forces included are the legal & regulatory forces, economic forces, competitive analysis and social factors.
Legal and Regulatory Factors
The legal and regulatory forces are very important for the business of organic food and natural health products. Human health is a highly sensitive issue for the company, so the legal regulation regarding this business is the license of human health administration to sale the food product (Wheelan & Hunger, 2004). It is necessary for the shop to get a certification and license of the nutrition available in the products (Bradford & Duncan, 2000). The legal and regulatory framework would enhance the capability of the strategy formation of the company with the inclusion of the varied legal and regulatory aspects of food and health products (Brown, 2009).
The economies of the countries have frequent fluctuations in them due to changing economic environment (Wheelan & Hunger, 2004). This will have a great impact on the business of health and food products. Due to the changes in the economies condition of consumers, the firm would have a rapid growth in such kinds of organic food product (Pierce & Robinson, 2004).
Due to the preference of the consumers for health organic food products the demand is continuously increasing, which ultimately increases the competition in the industry. It is essential or the firm to develop effective marketing and attractive strategy to retain the customers for long term (Kotler, 2002).
The social factors affect this business is the preference of consumers for certified organic food products, which would not harmful for the health of consumers (Wheelan & Hunger, 2004). Due to the fast pace of life, there is no time to cook food, so the consumers prefers organic and canned food full of nutrition and vitamins resources (Bradford & Duncan, 2000).
Internal Forces and Trends Considerations
The internal forces of the company are the strategies, resources and process and systems, which are made by the company itself; by its Management and can be modified any time by the company itself according to the changing conditions of the business environment (Wilson & Gilligan, 2005).
Business strategy of a company includes its business policies and procedures. The strategies of the company are required essentially to be effective (Ryall & Craig, 2003). Business strategy is the base of the corporation. The well determined business strategy can ...
A fictional business called the Green Store is analysed and a strategic plan is developed in just under 2,000 words with SWOT tables included.