Strategic Plan: SWOTT Analysis



Strategic Plan: SWOTT Analysis

Introduction

In order to remain competitive organizations need to assess the company internal and external environment because it has huge impact on the operations of company. There is variety of marketing options available to business owners to assess company's internal and external environment but SWOTT (strengths, weaknesses, opportunities, threats, and trends) evaluation tool is an effective tool in which business owners must invest. With this SWOTT analysis a a company is able to determine their current strengths, weaknesses, threats, and opportunities to overcome threats and weaknesses (Morath, 2010). This analysis also help on determining the areas where company needs to improve and it shows the ways to compete with their competition. This analysis can be very beneficial for that company because it helps to identify potential problems before they actually become a threat and problem for the wale fare of corporation. Thus in this paper I am going to conduct SWOTT analysis of Alice's food and also going to analyze external forces and trends of Alice's Food. Alice's food is restaurant which aims to set new trends in the food industry. They believed in relying on the diversity of natural resources. This analysis is going to help Alice's food to achieve its aim.

External Forces and Trends Considerations

Strengths

Weaknesses

Opportunities

Threats

Trends

Legal and Regulatory

Alice's food is strictly following economic policies of government regarding the running eating joints and restaurant industry that includes inspection by food and health ministry department, license etc . reasonable proportion of consumer protection

The company does not efficiently follow employment laws.

Government regulations regarding food standards, hygiene, and health and food regulations can be taken as an opportunity as it is going to make quality of the food better and better

Political stability cab be a big threat to the restaurant because regulations and law changes with the changes in political state of the country

With the passage of time consumers are getting aware about the tax policies and environmental regulations

Economic

Alice's food is growing since its establishment. It is raining market capital

Increase in the cost of material, supply and storage used in the final product elaboration is becoming more expensive

Economic growth of the restaurant industry can be taken an important opportunity to attain future success

Exchange interest and inflation rate would be impacting cost of capital which ultimately is going to impact cost of capital

Economic trends currently acts as an effective indicator of profitability and substance of Alice's food in its region and it also is helping in deciding its marketing strategy

Technological

Alice's food has state if the art tech, its equipment is integrated in business process

Research and development activity of the company is a significant weakness affecting operations of the restaurant

A good technical infrastructure will allow Alice's Food to lead to better procurement, distribution logistics, and production that would result in lower cost and reduced wastage.

Rate of technological changes can become a big threat for the restaurant

Sound technology is an effective decisive factor for the better presentation, food technology innovation, and more effective business marketing

Strengths

Weaknesses

Opportunities

Threats

Trends

Innovation

Alice's Food comes with huge variety ...