Explore BrainMass
Share

SWOTT analysis

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

SWOTT for external and internal environmental forces for proposed business. "My proposed business is tax income tax preparation service center."

SWOTT Analysis Paper and Table

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 1,200- 1500 word 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.

© BrainMass Inc. brainmass.com October 15, 2018, 6:27 am ad1c9bdddf - https://brainmass.com/business/swot/swott-analysis-258631

Solution Preview

The response address the queries posted in 2302 words with references.

//Prior to discuss the 'SWOTT Analysis' of the internal, as well as, external forces of the related company; it is better to have an understanding of the concept of the business operated by the firm. In this series, in the first section of the discussion paper, the business of the related company is discussed under the heading of introduction.//

Introduction:

The given SWOTT Analysis is done for a proposed company, which is an income tax preparation service center. The main business of the company is to prepare income tax either manually or computerized. The company provides the services related to free analysis of the returns of income tax and assistance in audit (Brys, 2007). The firms which provide such kind of services related to income tax have to face several internal and environmental business forces.

//In the continuation of the discussion, in the next section of the paper, the 'External Analysis' of the income tax preparation firm, is done. In this analysis, some of the important external forces are analyzed in relation to the business of the company. For each of the force, the recommendations and decisions are also given.//

External Forces and Trend Considerations:

In the 'External Forces Analysis' of the income tax preparation service center the major forces included are the legal & regulatory forces, economic forces, technological forces and global forces.

Legal & Regulatory Forces: The legal and regulatory forces are very important for the business, as in the different countries, the tax regulations are different; according to which, the companies have to include variations in their strategy.

Strength: 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 the different countries.

Weakness: The control of the legal and regulatory aspects of the Government is very much in such kind of business areas like 'income tax' and 'sales tax'. This will make the company work according to frequent changes made by the Governmental Bodies.

Opportunity: Within the legal and regulatory environment, the company would get more chances to have huge mass of customers, as the customers would be more conscious to have proper records of the tax statements.

Threat: Sudden changes in the Governmental regulations can cause the firm to make changes in its business process in between the business process, which can further result into a loss of its clientele.

Trend: The legal and regulatory terms of the Government would become stricter with the passage of the time.

Decisions & Recommendations: The Company should have a check on its dimensions, which it uses to prepare tax statements. If the work is performed in a computerized manner, then, the machines should also be checked properly.

Economic Forces: The economies of the countries have frequent fluctuations in them due to changing economic environment. This will have a great impact on the business of the tax company (Brown & Hogendorn, 2000).

Strength: The firm would have a rapid growth; as such kinds of tax services will give strong financial position to the company; because due to changes in economy, the tax services are also increased, to be taken by the customers.

Weakness: The recession in the economy will become a great weakness for the organization.

Opportunity: The Company can get advantage of having good corporate image by informing its customers about the upcoming economic changes to prepare them in advance.

Threat: The economic changes can create keen competition for the company.

Trends: The change in economy is a regular phenomenon, which makes the company to have a long-term business.

Decisions & Recommendations: The business of the company has close relations with economic forces; so, it should ...

Solution Summary

The response address the queries posted in 2302 words with references.

$2.19