Strategic Plan Part II: Swott Analysis
Sonia Elias
BUS/475
January 22, 2013
Robert Cantu
Abstract
Organizations in today’s competitive business world must include a strong and effective strategic plan. Elias Services must implement such a plan that will carry the business to new heights. This strategic plan must include a mission and vision statement that will describe what the company stands for. By using a helpful tool such as the SWOTT analysis, Elias Services’ strengths, weaknesses, opportunities, threats, and trends will be identified. Another successful tool that will be used will be the balance score sheet.
Strategic Plan Part II: Swott Analysis
In the business industry there are many strategies for business owners to have a good management and be successful in the industry one of the main analysis is the SWOTT what is mean as Strengths Weaknesses Opportunities Threats and Trends.
A SWOTT analysis is a research analysis, that helps the planning when evaluating the strengths, weaknesses, opportunities, threats, and trends that affect a business. When evaluating the strengths of a business, you must identify the attributes of the business that would be helpful to achieving a certain objective. You must also identify how these attributes or strengths can be used. Weaknesses are those attributes that may be harmful to a business or organization. Weaknesses can get in the way of achieving a certain goal. As a company, these need to be identified to ensure that they are eliminated. Opportunities are the external conditions that are helpful to achieve a goal or objective. Threats are the external conditions that can do damage to the performance of a business. Trends are both internal and external factors that can affect the strengths, weaknesses, opportunities, and threats both near and long term. When identifying trends, a business should take advantage of the positive trends and always avoid the negative trends. An effective...