Strategic position

I’m trying to study for my course and I need some help to understand this question.

 

SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. These elements are crucial in assessing your strategic position with your organization. You want to build on your company’s strengths, shore up the weaknesses, capitalize on the opportunities, and recognize the threats. Internal: Strengths and Weaknesses The upper two sections (STRENGTHS and WEAKNESSES) originate internally. These are things internal to your organization over which you have some control and can change. STRENGTHS: List of your capabilities and resources that can be the basis of a distinct competitive advantage. Ask: What are the most important strengths? How can we best use them and capitalize on each strength? Strengths might include: • a new and/or innovative service • capabilities or cost advantages • cultural connections • extraordinary reputation • other aspects that add value • special expertise and/or experience • superior location or geographic advantage WEAKNESSES: What areas need improvement (or should be avoided)? Ask: What would remove or overcome this weakness? Weaknesses can sometimes be the absence of certain strengths, and in some cases, a weakness may be the reverse side of one of your strengths. Weaknesses might include: • absence of marketing plan • damaged reputation • gaps in capabilities or service areas • lagging in technology • management or staff problems • own known vulnerability • poor location or geographic barriers • undifferentiated service lines External: Opportunities & Threats The lower two sections (OPPORTUNITIES and THREATS) both originate externally. These are things external to your organization (in the larger market) that you cannot control. Opportunities are helpful; threats are harmful. OPPORTUNITIES: In addition to new or significant trends, what other external opportunities exist and how can we best exploit or benefit from each? Opportunities might include: • a market vacated by a competitor • availability of new technology • changes in population profile or need • competitor vulnerabilities • lack of dominant competition • new market segment that offer improve profit • new vertical, horizontal, or niche markets THREATS: Can include anything that stands in the way of your success. No practice is immune to threats, but too many people miss, ignore, or minimize these threats, often at great cost. Ask: What can be done to mitigate each threat? Can a threat become an opportunity? Threats might include: • a competitor has an innovative product or service • a new competitor(s) in your home market • adverse changes in reimbursement or regulations • changing insurance plans and/or contracts for major area employers • competitors have superior access to channels of distribution • economic shifts • loss of key staff or associates • new or increased competition • seasonality • shifts in market demand or referral sources SWOT Rubric a. A thorough SWOT analysis is presented and explained……(10 points) b. All major Strengths addressed……(20 points) c. All major Weaknesses addressed……(20 points) d. All major Opportunities addressed……..(20 points) e. All major Threats addressed……..(20 points) f. Items under each category are appropriately categorized and written……(10 points)

Strengths:

•a new and/or innovative service

•capabilities or cost advantages

•cultural connections

•extraordinary reputation

•other aspects that add value

•special expertise and/or experience

•superior location or geographic advantage
Weaknesses:

•absence of marketing plan

•damaged reputation

•gaps in capabilities or service areas

•lagging in technology

•management or staff problems

•own known vulnerability

•poor location or geographic barriers

•undifferentiated service lines
Opportunities:

•a market vacated by a competitor

•availability of new technology

•changes in population profile or need

•competitor vulnerabilities

•lack of dominant competition

•new market segment that offer improve profit

•new vertical, horizontal, or niche markets
Threats:

•a competitor has an innovative product or service

•a new competitor(s) in your home market

•adverse changes in reimbursement or regulations

•changing insurance plans and/or contracts for major area employers

•competitors have superior access to channels of distribution

•economic shifts

•loss of key staff or associates

•new or increased competition

•seasonality

•shifts in market demand or referral sources

EXAMPLE ON BURGER KING

Strengths:

•Resource reliability/machines work

•Specialty beverages and burgers

•Regular introduction of new products

•Affordable

•International marketing

•Availability of delivery

•Accessibility of coupons

•Multiple locations

•Collaborations with major brands
Weaknesses:

•Not unique in service

•Higher prices compared to competitors

•Poor customer service

•Not enough 24 hours like competitors (i.e. McDonald’s)

•Limited breakfast options

•Frozen beef

•Not many vegetarian options

•Not healthy

•Not as many locations as competitors

•Limited renovation

•Limited wage payment

•Lack of supplies and inventory

Opportunities:

•Vegan and/or organic options

•Open more 24 hour locations in targeted locations

•Installation of self-checkout kiosks

•New school in area

•New neighborhood

•More all-day breakfast desired in neighborhood

•Partner with popular delivery service

•Renovate with surrounding area projects

•Price match for fast food

Threats:

•No curbside or limited stores with double drive thru

•Competitor technology

•Wendy’s is never frozen

•Competitor promotion and customer appreciation events

•Celebrity endorsements

•Social media of competitors

•Lower prices of competitors

•All-day breakfast promotion

•Health trend and low healthy food options

•Chick-fil-A customer service

•Kid-friendly McDonald’s

(MORE INSTRUCTIONS )

I received several questions over the weekend regarding the SWOT analysis assignment. Below is additional information to assist. Please make sure to review the syllabus as you can find most of this information there as well.
1. You can complete the SWOT analysis on the same organization you wrote about for Assignment #1, but specify a department of issue that requires a deeper dive. For instance, you can conduct a SWOT analysis on why the radiology department for the organization needs $1 million dollars for the purchase of an MRI machine and construction of the room to put it in.
2. Your must provide an explanation of why you selected your SWOT bullets. Under each label, there are questions in your syllabus to help guide you in the response. For instance, this is under STRENGTHS in your syllabus:
“STRENGTHS: List of your capabilities and resources that can be the basis of a distinct competitive advantage. Ask: What are the most important strengths? How can we best use them and capitalize on each strength?”

After you have listed your strengths in the table, explain why they are strengths in a narrative below the table. Explain how you can use each strength.

You will find this for every component in the SWOT in your syllabus.

3. Please review the rubric for the assignment. It provides information on how each section will be graded.

4. As always, please monitor your grammar and presentation.

AT LEAST 2-3 REFERNCES