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SWOTT Analysis

Conduct an internal and external environmental analysis for your proposed business. (Please see attached word document)
? 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
? Global
? Economic
? Technological
? Innovation
? Social
? Environmental
? Competitive analysis
 Internal forces and trends considerations:
? Strategy
? Structures
? Processes and systems
? Resources
? Goals
? Strategic capabilities
? Culture
? Technologies
? Innovations
? Intellectual property
? Leadership
? I need help to start preparing a 1,400 word synopsis in which I 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 Identify issues and/or opportunities:
o Identify the major issues and or opportunities that the company faces based on your analysis above.
o Generate a hypothesis surrounding each issue and research questions to use for conducting analysis.
o 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.

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SWOTT Table:

Strengths:

Strong reputation and goodwill in terms of providing timely and safe service
Large fleet of vehicles
24/7 operation

Weaknesses:

Service limited to airport transportation

Opportunities:

Opportunity to leverage on the existing goodwill and reputation and expand services to other routes and destinations within and outside New York City.

Threats:

Competitive threat from other taxi service provider in the area
Threat from declining air travel due to recession, thereby reducing the demand for taxi
Threat from public transportation such as Subway

Trends:

The economic trend is forcing people to reduce on travel costs, especially air travel.
In today's recessionary period, people are opting for public transport rather than taxis to reach airport

Analysis of Forces and Trends:

The first force selected for this assignment will be economic force. Economy has a major impact on the growth and profitability of this organization as it relies on passenger spending on Air travel and transportation for its survival and growth. As recession grows, people spend less on air travel and thus, passenger movement to and fro from the airport declines, thereby causing steep decline in the revenues of the firm. Further, passengers opt for public transportation such as Subway to reduce their travel costs.

The ongoing recession in the US economy and declining air travel among passengers is a cause of worry for the growth of the company. In order to face this threat due to slowdown in economy, the organization will need to make several changes. First of all, it will need to go on a cost cutting initiative to improve the operating margins during today's tough times. Secondly, it will need to become more competitive in terms of pricing to offer more "Value of money" to the customers. This can be done by improving service quality, adding value added services, etc.

Further, the organization also needs to diversify its operations by entering into newer ...

Solution Summary

Conduct an internal and external environmental analysis for your proposed business.

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