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Use the example on p. 97 of the text as a guide.Edu the example on p. 97 of the text as a guideWrite a 700- to 1,050-word paper in APA format explaining the business plan youselected and your SWOT analysis discussing the strengths, weaknesses, opportunities,and threats of the company you chose.?.
2 answers
I am to select a sample business plan from Business plans/.
I selected the
Coffee shop and Internet cafe business plans.
Managers, and Employees 97
opportunities and threats. One potential threat might
be that if the new idea succeeds, McDonald’s or
KFC might decide to imitate the idea and rush to do
so. If this happens, whatever competitive advantage
the entrepreneur may have had will be short-lived.
(KFC actually did this after Boston Market was successfully
launched.) As the entrepreneur conducts a
thorough analysis of the competitive environment,
he or she must be willing to abandon an idea if it
seems likely that the threats and risks are too great
for an acceptable profit to be earned. Entrepreneurs
must not become so committed to their ideas that
Does the venture have experienced, creative leaders
and researchers?
Does it have a well-developed and researched
business model?
Does it have a well-designed product that better
satisfies customers’ needs?
Are market segments accurately targeted?
Does its personnel have good marketing skills and the
product, the right marketing mix?
Does it have an efficient operations and materials
management system?
Are the distribution channels chosen and the sales
force trained?
Does it have human resource competencies in
recruitment and compensation areas?
Does it have an appropriate leadership and
management style?
Does it have a well-designed organizational structure
and culture?
Does it have sufficient capital in reserve to make
and sell the product for six months to a year?
Is customer demand in the targeted market
segments increasing?
Can the existing product range be widened
to target new market segments?
Can the company’s R&D skills be used
to create new and improved products?
Are there opportunities to develop new
distribution channels and be more responsive
to customers?
Will it be possible to improve employees’
value-creation skills to increase efficiency,
lower costs, and improve product quality?
Are there opportunities to enter new product
markets or expand globally?
Strengths Opportunities
Does the venture have a poorly thought-out
business model?
Have customer needs been defined inaccurately
and market segments incorrectly identified?
Does the venture have an inappropriate or poorly
designed marketing plan and mix?
Are operations and materials management systems
not developed or in place?
Is the choice of distribution channels poor?
Is the sales force training program poorly designed?
Are human resources and competencies poor?
Do managers have an inappropriate leadership style?
Does the venture have a poorly thought out
organizational structure and culture?
Is there insufficient capital to keep the business
in operation for six months to a year?
Weakness Threats
Has the venture failed to anticipate the reactions of
competitors?
Are changes in customer tastes occurring
rapidly?
Are new or substitute products from competitors
under development?
Is competition in the industry increasing?
Are changes in demographic factors affecting
customer tastes?
Is the market experiencing changes in economic
and global factors such as the rise of low-cost
competitors?
How quickly will rivals be able to develop
competing products?
Are there ways competitors can reduce the cost
of value-creating functional activities chosen
by the venture?
Figure 1
Testing the Business Plan Using SWOT Analysis
I selected the
Coffee shop and Internet cafe business plans.
Managers, and Employees 97
opportunities and threats. One potential threat might
be that if the new idea succeeds, McDonald’s or
KFC might decide to imitate the idea and rush to do
so. If this happens, whatever competitive advantage
the entrepreneur may have had will be short-lived.
(KFC actually did this after Boston Market was successfully
launched.) As the entrepreneur conducts a
thorough analysis of the competitive environment,
he or she must be willing to abandon an idea if it
seems likely that the threats and risks are too great
for an acceptable profit to be earned. Entrepreneurs
must not become so committed to their ideas that
Does the venture have experienced, creative leaders
and researchers?
Does it have a well-developed and researched
business model?
Does it have a well-designed product that better
satisfies customers’ needs?
Are market segments accurately targeted?
Does its personnel have good marketing skills and the
product, the right marketing mix?
Does it have an efficient operations and materials
management system?
Are the distribution channels chosen and the sales
force trained?
Does it have human resource competencies in
recruitment and compensation areas?
Does it have an appropriate leadership and
management style?
Does it have a well-designed organizational structure
and culture?
Does it have sufficient capital in reserve to make
and sell the product for six months to a year?
Is customer demand in the targeted market
segments increasing?
Can the existing product range be widened
to target new market segments?
Can the company’s R&D skills be used
to create new and improved products?
Are there opportunities to develop new
distribution channels and be more responsive
to customers?
Will it be possible to improve employees’
value-creation skills to increase efficiency,
lower costs, and improve product quality?
Are there opportunities to enter new product
markets or expand globally?
Strengths Opportunities
Does the venture have a poorly thought-out
business model?
Have customer needs been defined inaccurately
and market segments incorrectly identified?
Does the venture have an inappropriate or poorly
designed marketing plan and mix?
Are operations and materials management systems
not developed or in place?
Is the choice of distribution channels poor?
Is the sales force training program poorly designed?
Are human resources and competencies poor?
Do managers have an inappropriate leadership style?
Does the venture have a poorly thought out
organizational structure and culture?
Is there insufficient capital to keep the business
in operation for six months to a year?
Weakness Threats
Has the venture failed to anticipate the reactions of
competitors?
Are changes in customer tastes occurring
rapidly?
Are new or substitute products from competitors
under development?
Is competition in the industry increasing?
Are changes in demographic factors affecting
customer tastes?
Is the market experiencing changes in economic
and global factors such as the rise of low-cost
competitors?
How quickly will rivals be able to develop
competing products?
Are there ways competitors can reduce the cost
of value-creating functional activities chosen
by the venture?
Figure 1
Testing the Business Plan Using SWOT Analysis
1 answer