Create a hypothetical organization offering product /service of your choice. Ide

Question

Create a hypothetical organization offering product /service of your choice. Identify a real potential competitor in the market. 1. Name your product/service as well as organization.

2. Write the mission and objectives.

3. Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.

4. Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.

5. Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.

6. Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.

7. State how you are going to implement selected strategies via programs, budgets, and procedures.

8. State how you are going to evaluate implemented strategies via feedback systems, and the control of activities to ensure their minimum deviation from plans.

Guidelines:

Before carrying out a SWOT analysis, consider the following guidelines:

• Be realistic about strengths and weaknesses. When performing a SWOT analysis on your business, be neither modest nor overly optimistic

• Consider answers from the company’s point of view and from the point of view of customers, vendors, distributors, and others who do business with them.

• Distinguish between where the organization is today and where it could be in the future.

• Note that the SWOT is subjective. No two persons will come up with the same SWOT.

Explanation / Answer

I would like to relate this with my own business of manufacturing men’s shirt

Name of the organisation- style creations

2.Mission- our mission is to deliver apparel with exceptional value and quality to our customers. We not only deliver shirts but also style that you wish to carry all the time along with you.

Objective- our objective is to provide high end traditional shirts to our customers at affordable price along with best quality and unique designs.

3. External environment- threats are-

A). Competitors

b). Accessibility of raw material

c). Economic downturns

Opportunities are-

a). Technological advancement in machinery

b). Low government restrictions in case of exporting shirts.

4.Strength-

a). Only manufacturer in my region

b). Distribution channel is very strong

c). Raw material is of very high quality.

Weaknesses-

a). Cash flow is very low

b). Many creditors

c). Working skilled staff is very limited in this industry

5. Opportunity-

a). Can export the shirts

b). Online retail and E commerce is gaining much more importance now a days.

c). Young group of designers who are recently pass out easily available

Threats-

A). Competition

b). Customer switching

c). Fashion changes quickly

d). Economic downturn

6.Best alternative for my business is doing online business of my product. As this will not require much workers and physical store expense. Hence I consider this the favourable option for my new start up.

7.Now a days selling products online is not a bigger concern. Moreover this will not require much of budget. You only need to register for the online site and put your products to sell. The things that need to keep in mind the other seller under same category of the product. The pricing and the strategies implemented by them to sell their product must need to be taken care for.

8.It is very easy to get immediate feedback for your product via e commerce site. Any kind of issue or suggestion made by your customer is available to you in just one click. As per the feedback from your customer you can bring necessary changes in your product. In order to keep everything on track is to set the standards of your manufacturing products as per your company’s objective. These set standards and rules become the benchmark for your staff.

This is my real life example. Question comes again.

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