Swott Analysis Paper free essay sample

SWOTT Analysis Paper and Table Latasha Henderson University of Phoenix/ Augusta campus Bus/475 Nikki Butler June 27, 2011 Pretty Lady Shoes Boutique is located in Augusta, Georgia. Their doors opened in spring of 2010, by Monique Thurmond. The unique boutique offers customers a large range of exotic heels, matching shoe sets for mother and daughters, matching handbags for each pair of shoes, while relaxing in an elegant setting and able to sip wine or sparkling grape juice. There is also a jewelry case with very unique selection of accessories. The mission statement: This is the ultimate shopping experience for the average working woman. The owner picked the perfect location and the landscaping is like no other. The business is off to a good start and there is plenty of room for growth. The idea for the Boutique came from a simple dream that the owner had since she was a child. She had been to many different shoe stores and felt that they were really impersonal. Everyone had to choose from the same shoes, those stores lacked veracity and put no excitement into the eyes of the customers. She felt that a woman should be pampered and leave feeling like they earned her money. She wanted mothers to have a place to take their daughters to get matching shoes for a special day out. She wanted to create the ultimate shoe shopping experience. This paper will explain how Pretty Lady conducts a SWOTT analysis. It will explore both the external and internal and forces within the company. This will include; economic, structure, resources,culture, strategy, innovation, and oppurtunity. It will identify a primary strength, a weakness, threat and opportunity for each factor. At the end of the paper a SWOTT Analysis chart will be attached summarizing the findings . SWOTT Analysis The following questions needs to be answered adequately before a Swott Analysis can be carried out; what are the strengths in the market, what are the advantages, resources, and compared to the competition, what does the company do better. To make sure the company is assessing the customer’s veiws as well as the competitions, they have to look at the strengths from an external and internal perpective. After evaluating the strengths of the company, the very next thing to do would be to identify any weekness that the company may have. When doing a weakness assessment the company needs to ask what can be improved, avoided, and what do others see as the company’s main weekness. Economic Economic development has to involves everone in the community , there are three main fuctions; asset-buliding, promotion, and transactions/deals. Asset-bbuilding includes the city,county, and state government. Promotion is the best and most cost-effective way to market the company. Owners should work closely with municipalities and special-focus entities. With the asset-building and promotion efforts succeeing in bringing new prospects to the compnay and creating new locations for the business, the third element of economic development is transactions. Transactions are the process of securing company location decisions or the growth in the place of other local small businesses. Structure Structure is what makes us a winning company and allows for better work. It enables interaction within the company as well as across departmental lines. The struture is sensible and promotes a effective reporting relationship with investors and the , with clear lines of authority. Resources Resource analysis helps the company identify the strengths and weakness of the Organization. There are some main categories that fall under Resources; Financial – Funds that are available and the ability to raise funds if needed for expanding or new ventures. Human – Able to use existing staff for internal projects, or take advantage of the outsourcing option, partnerships etc. Physical Available infrastructure, suppliers, assets, IT systems etc and ability to raise new if required. Intangible – Goodwill, product recognition, reputation , and honesty are the main factors. Culture The owner of the company is of the black American descent. That has a lot to do with the decoration inside of the building. Before opening the store the owner did research on different cultures to gain knowledge about different backgrounds. This is done out of respect to different people that may come into the store. It is understood that different people have different beliefs and expect to be treated a certain way. The employees at the company are of different diversities and all work well together. They are required to attend yearly sensitivity training which helps with customer service and that allows the company to stay at the top of its game. Opportunity Opportunities usually emerge from changes; therefore you need to pay attention to what could possibly change in the near future and how your company could benefit from that. This is where the marketing team comes in. It’s their job to plan for this type of thing and to keep the company ahead of the game. Conclusion Swott helps a company see itself for better or for worse. It forces a company to look at the strengths and weaknesses of the company while planning the right moves for the future. Every company could benefit from the swott analysis. All internal and external factors are evaluated and put into consideration and the business is built off of the results. Customer needs are met by providing the best of the best products. They are offered many different and unique choices of heels and matching accessories, while being pampered and relaxing in a calming atmosphere and taking advantage of competitive pricing. They have competitive advantage because the shoes they offer are not found anywhere in the states. The huge variety from different countries around the world, will allow the advantage to continue. The bottom line to keeping the business up and running is honesty, commitment, choice, and great customer service. If the customers are happy with service they will keep coming back and word of mouth is the best advertising there is. A company cannot survive by doing only one of the things listed above; it has to incorporate each and every step to be successful. References †¢ Kerns, C. D. (2003). Creating and sustaining an ethical workplace culture. Graziadio Business Review. Retrieved from http://www. gbr. pepperdine. edu †¢ Posner, R. (2009). The power of personal values. Guru Software. Retrieved from http://www. gurusoftware. com