Answer To: HI6006 Student Assessment Details Assessment 1: Individual Assignment – 20 marks – week 5 Assessment...
Sarabjeet answered on Aug 17 2020
Strategic Analysis
Running Header: Strategic Analysis
Strategic Analysis
Strategic Analysis
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Contents
Introduction 3
Strategic analysis tools 3
Conclusion 8
References 9
Introduction
The Strategic analysis is the process or procedure of a researching the company environment in which the associations operates as well as organizations itself to expand a strategy. These strategic tools help to theoretically, understand the environment in which the organization operates and understand the interaction of the association with its surroundings to make better organizational efficiencies or effectiveness by growing the ability of the association to intelligently re-deploy moreover deploy resources. The strategic roadmap requires a timeline that also defines milestone for weekly, one-month, three-month, moreover six-month interval. The Implementation milestone must be established as well as communicates to every key company partners, stakeholders, and boards furthermore with investors, clients, and workers from the day one.
Strategic analysis tools
SWOT Analysis: SWOT analysis system involve analyzing Strengths (S), Weaknesses (W) of inner elements and Opportunities (O) or Threat (T) of their outer performances elements (Schroder, 2012). Through this analysis, the company's inner weaknesses, as well as strengths, may correspond to threats and opportunities in a company environment, therefore effective plans may be developing to overcome threats and weakness of the organization and to focus more on the strengths and weaknesses. Thus, it can be seen that organizations can take advantage of their advantages and offset their risk by minimizing the impacts of their weakness, thereby gaining an effective strategy. Additionally, the SWOT analysis will be applied to the entire business and to a specific project within the business to recognize new business strategies moreover assess project feasibilities (Kawai, 2017).
The company's strengths and weaknesses are related to its internal factors such as resources, operations planning and sales, marketing and distribution. More specifically, power is a beneficial or even unique skill; a company or project has the ability, product or service to make a competitive advantage. These may be including abstract concept such as strong R&D capability. On the other ways, weaknesses are planned disadvantages, for example, the lack of a skill in a company and projects that limit it or creates potential threats under negative financial conditions. Therefore, balancing these negatives and positives are an essential prerequisite for any business, as well as companies must continue to review their weaknesses and strengths to accounts for the change in their inner environment (Lim, & Kim, 2014).
Opportunity is a condition that may be utilized to consolidate or strengthen planned positions. The Examples of these phenomena include the increasing demands for fashionable latest products that can be considered for sale, such as the product announce by Burger King about the introduction of the cheese burgers (Camillus, 2011). On another way, a threat is a condition that also makes uncertainty and can damage an association’s performances or market shares. The Threats also include the introductions of the latest competitive brands or products moreover services, technological advances or new regulation. If the business plans to vote "yes" in the September 2014 Scottish referendum, an example of fear of these external elements may be noted in comments of industries that have moved they are headquartered as well as registrations bases from Scotland to England (Lim, Kim, 2014).
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