Strategic Plan Part Ii Swott Analysis Business Essay

Strategic Plan Part Ii Swott Analysis Business Essay Starting a new business or company the owner must have a strategy plan that focuses on the companys strengths, weaknesses, opportunities, before opening the doors. Understanding the business SWOTT will help the development of the strategy plan and prepare for any unexpected problems that may occur within the internal and external environment. A SWOTT analysis particularly will allow Jeans rare find books, to audit, plan, and focus on key issues that come up in the business. External Trends Janes rare find books consider and selected the economic forces, competitive analysis forces, competitive external forces, and technological forces for the external analysis. . Competitive analysis Rays books, and Blakes wholesales books warehouse are the market competitive analysis focuses on the companys (Jeans rare find books) competitors has decreased. Blakes wholesale books warehouse controls 20% of the market and Rays books control 10% of the market. Jeans rare find books have computer kiosks set up throughout the store, which give them the competitive advantage over the competition. Selecting a book can be done with the touch of a button that will give a history of the book, first and last owner, and where the book is located. In addition, the store will have programs set up for high school and college students alike that will enable them to rent out available books using his or her school code, and students identification at a price that fits his or her budget. Strength: Offering rare books people cannot find, availability of signed, and first edition books of rare authors who people or individuals have not seen in years. Weakness: Opportunities: The ability to advertise and connect with people looking for a book. Threat: Larger store better technology Trends: The trend shows improvement and the ability to change and move forward. Economics Economics facilitates the decision making in the business considering the cost of products and services. Economic factors concern the nature and direction of the economy in which a firm operates. Because consumption patterns are affected by the relative affluence of various market segments, each firm must consider economic trends in the segments that affect its industry (Pearce Robinson, 2009, p. 94, Para 3). Strength: Good economic conditions increases, the budget, and improve the shareholder confidence. Weakness: fluctuation in economic conditions weakens and affects the companys operations. Opportunities: A boost in economic growth helps the expansion, and growth of the company. Threats: Slow tourist season affect the business. Technological forces Knowledge in technology helps a business in the daily process on filing documents, receiving suppliers, helping staff members, and customers. The correct knowledge of technology decreases the day-to-day business processing of paperwork. According to Pearce and Robinson, (2009) a technological development may have an unexpected result on a companys environment. It may produce refined products or greatly shorten the expected life of a production facility (p. 98, Para 6). Strength: Good technological skills help in operating a day-to-day business. Weakness: technological breakdown of computer systems can put a business on whole causing loss of profits and customers. Opportunities: The advance and upgrades of new technologies today will make it easier to track merchandise in less time and will help satisfy suppliers, and customers. Threats: The use of old and outdated technology systems will reduce the satisfaction, demands of suppliers, and customers thereby losing cash flow. Trends: Technological advancement enables the company to create an atmosphere customers appreciate, and expect without outside interference. Internal Forces and Trends Strengths and weaknesses internal analysis targets internal factors, which supplies a business advantages and disadvantages in meeting the needs of its market (My Strategic Plan, 2010). Businesses examine internal operating trends for less expensive ways to control business. Outsourcing unnecessary business performances or using the Internet to create sales is ordinary classes of internal trend (Vitez, n.d.). The selected internal forces and trends for the Jeans Books are culture, and resource. Culture Culture is a force and trend that includes business related social culture, and diversity within the workplace. Businesses that efficiently establish an internal culture based on common support, respect, and teamwork will recognize increased output and a better focus on customer service (Richards Media, n.d.). Strength: Diversity helps in reaching the competitive advantage as it serves in sharing beliefs, morals, and behavior that boost the businesss image. Weakness: Old culture or unfavorable culture of the business reduces the idea of business expansion. Opportunities: In todays work environment the company can easily grow and increase its market share offering new ideas on selling books within publishing industry Threats: A company without diversity may affect the business processing. Trends: Diversity, developing a business environment with a diverse group of people and individuals the company will have more value in the market Resources Resources from different publishing houses from around the country and overseas will generate more business for the company, and boost a loyal customer base. Strength: Connecting with the customers, having the right book for the right customer Weakness: Delays and unattainable recourses; competitors using similar concepts to sell books. Opportunities: To collaborate with publishing house from around the world. Threats: Competitors using similar concepts to sell books Trends: Young adult books, and children books. Issues and Opportunities The issues and opportunities regarding internal and external environmental analysis reflect respective issues and opportunities for Jeans Rare Books, new to the publishing industry. Advancement in technologies is the first major issue that forces the company to carry out the technology as per the customers current demand in this business environment. The highly competitive market will be good practice for Jeans rare find books company to implement a strategy plan that meets the needs of both the company and the stakeholders. SWOTT analysis looks at the issues and the opportunities that Jeans Rare Book Company will. Opportunities and resources from publishing companies will help business expansions increasing market shares and promotes the business toward growth and success. The most common use of SWOT analysis is as a logical framework guiding discussion and reflection about a firms situation and basic alternatives. This often takes place as a series of managerial group discussions (Pearce Robinson, 2009, p. 160, Para 3). Circumstances and Importance Classification Circumstances vary in the workforce; consider technological advancement the business may have issues with various changes and upgrades involving computer systems. Various changes and upgrades involving computer systems is very important for a new business, such as Jeans Rare Books to have a solid strategy plan in place. The company can get a clearer understanding of the weaknesses, threats, strengths, and opportunities to satisfy the customers demands. SWOTT is commonly used today in businesses across the country. It is a good practice, and learning point for a new business like Jeans rare find books to implement their long-term goals for the company. External Factors Factors Strength Weakness Opportunity Threat Trend Economic Cuts down on tax burden Fluctuations in economic conditions Expansion and growth opportunities Economic turnover Regular phenomenon that affects the long-term business performance Technological Helps run day-to-day operations Problems in technology create slow down in work Improved customer relations Reduced satisfaction level of customers Promotes company to furnish service is efficient way Facilitates in effective strategy formulation Lack of vital information Easy competition with the competitors Unable to concentrate on other requisites Conduct at quarterly periods Internal Factors Resources Availability helps to achieve goals in cost- effective way Delay of resources can cause harm to business Adequate allocation can attract more customers Unavailability can result in losses to company because of supply and demand Culture Good business cultures helps in reaching competitive advantage With modern staff company can grow easily and attract business Different cultures could affect day-to- day business In todays businesses much, consideration is given to cultural environment. Availability to a younger market

Finding Freedom with a Dodge Truck and Love with a Zales Diamond Essay

Finding Freedom with a Dodge Truck and Love with a Zales Diamond Television commercials, although usually ignored and generally disliked by the public, are more influential than most people think. Their concepts are subconsciously absorbed and whether or not viewers realize it, they leave an impact on their minds. Marie Winn quotes an English instructor in her essay, â€Å"Television Addiction,† as saying ‘I find television almost irresistible. When the set is on, I cannot ignore it. I can’t turn it off’ (506). Advertisers know that people become addicted to television shows and because of this, they are forced to watch the commercials as well. These repetitious commercials get the consumers influenced by what they see. For example, Dodge promoters use a ram as their mascot which is reflected in their motto â€Å"Grab Life by the Horns,† and it is shown at the end of all their commercials. They want you to seize the freedom in life that you have while making a Dodge car a part of it. Another example of an abstrac t idea promoted in a commercial is the Zales diamond advertisement where a man expresses his love for his girlfriend by not only unrestrainedly shouting it out loudly, but also by presenting her with a beautiful diamond ring. While these commercials induce people to buy their products, they also evoke certain emotions, more specifically the ideas of freedom and love. Dave Barry states in his essay, â€Å"Red, White, and Beer,† â€Å"Lately I’ve been feeling very patriotic, especially during commercials† (519). So, commercials have the power to make consumers feel particular emotions. For instance, the Dodge car promoters use an outdoor setting in their commercial to advertise their trucks. The area is a vast, wide open plain with no... ...tisement for it, because of its visual representation. In conclusion, advertisers have the job of not only tempting viewers to buy a product, but also the power to make them feel emotions through visually showing different situations. â€Å"Dodge† wants you to break away from the norm and embrace freedom while â€Å"Zales† encourages spontaneity in love. In order to fulfill these emotions, the viewers are induced to purchase the product, therefore accomplishing the task of the advertisers. Works Cited Barry, Dave â€Å"Red, White, and Beer† The McGraw-Hill Reader 8th ed. Ed. Gilbert H. Muller New York: McGraw Hill, 2003, 519-521 Dove, Rita â€Å"Loose Ends† The McGraw-Hill Reader 8th ed. Ed. Gilbert H. Muller New York: McGraw Hill, 2003, 503-505 Winn, Marie â€Å"Television Addiction† The McGraw-Hill Reader 8th ed. Ed. Gilbert H. Muller New York: McGraw Hill, 2003, 505-507

Why do we care so much?

Introduction. People generally search for positive feedback pertaining to the self, in order to maintain a positive self-image. People also generally do not seek external feedback that accurately reflects their self-image, but rather a fair looking glass that displays positive images of the self, which serve to protect their personal self-esteem. (Brehm, Cassin, & Fein, 5th ed. 1998) Definition. Along these lines, Tesser's self-evaluation maintenance model states that the performance of others in our social environments can affect our self-evaluations, (Taylor & Brown, 1988). When a person we are close to performs well on a task, what will determine whether we will react positively or negatively to that behavior? Factors. There are three (3) influential factors that lead to having positive or negative thoughts on others successes when dealing with the self. They are crucial in understanding the idea of self-esteem maintenance. The factors are Performance, Closeness, and Importance. Performance is the most straight forward, and states that one will make decisions about their feelings towards others, based on how well that person performed on the same task that another has already completed. lecture 2/13/03) This is made by a measurement of some sort. In this case, Satoka got a higher grade then Steve and Sarah on the exam. This caused Steve to show feelings of jealousy towards Satoka, however Sarah, having gotten the same grade as Steve, was indifferent due to other factors. Closeness is a little trickier to deal with. It has to do with the relationship between the two people in question. If they are closely related, one would begin to hypothesize that they would be happy for each other's successes. That is not what the data suggests. Steve, Satoka and Sarah, in the given problem, are all very close friends. The data suggests that this close bond will cause some tension and perhaps establish competition that could lead to envy and discomfort toward Satoka. (lecture 1/13/03) The last of the three factors is Importance. This is a crucial factor because, if the task in question is not that important to one's self-concept or maintenance of high self esteem, then the individual simply won't care enough to let it have any affect on him/herself. (lecture 1/13/03) Steve and Satoka in this example, are both aspiring psychology majors, which is the item that makes this factor so significant, and makes this exam score so important to their self concept. They have established some kind of subconscious competition. Knowing that Satoka has done better then him on the exam, could cause Steve to feel threatened. Satoka might now be a better candidate to be a psych. Major because of his superior performance on the exam. This exam however is not of crucial importance to Sarah's concept of the self, because she is not in a field relating to psychology. Thus, she has an apposite reaction to the exam score, and Satoka, Processes. Based on the prior description of the factors, and how they relate to Steve and Sarah's reaction in this situation, one can further infer processes to account for their reactions.. The first process is called comparison. The comparison process states that if another person who is close to you, on a task that is of importance to you, out performs you, you will show resentment, or feel badly. (lecture 1/13/03) The second process is Reflection. As it's name suggests, this is when you reflect on someone else's success, and you feel good about yourself, because they performed well. This is the process that Sarah is exemplifying. Recovery. There are three things that Steve can do, (one in relation with each of the factors) in order to relieve himself of this burden of negative feelings towards Satoka. (lecture 1/13/03) The first is that he can change his performance on the task, (do better on the exam) and that will lead to a better feeling when comparing with Satoka's high score. Another thing he can do is change how close he is with Sataoka, meaning, he would distance himself in the friendship to help save positive self-esteem. Lastly, he could change the amount of emphasis or importance that he places on the exam. One solution would be to change majors. (lecture 1/13/03) Conclusion. The idea of self-concept maintenance is one that the average person deals with in a typical day during the course of his/her interaction with friends and strangers. If the population is all more aware of why we feel the way we do about certain things, it might be possible to prevent a lot of the negative hostility that is harbored for one another in certain situations, especially jealousy among friends.

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