SWOT Analysis – Regina Poincy-Zimmerman’s Case Study

SWOT Analysis – Regina Poincy-Zimmerman’s Case Study

A SWOT analysis is among the most commonly used strategic management tools for building organizational strategy and gaining a competitive edge. The tool evaluates a business in terms of its strengths, weaknesses, opportunities, and threats. The four components of the tool are classified into two broad dimensions, namely internal factors (strengths and weaknesses) and external factors (opportunities and threats) (GÜREL, 2017). A business should aim to capitalize on its strengths, minimize weaknesses, seize viable opportunities, and act against its threats.

Internal – Strengths

The strength aspect of the SWOT analysis entails the characteristics of the business that add value, making the business more special than others (GÜREL, 2017). Regina Poincy-Zimmerman’s business is very strong in that it has a unique approach to the marketing industry by specializing in social media analytics. This property gives the business an advantage over its potential competitors through its technical capacity. Additionally, the region the business is operating in has no other agencies specializing in social media analytics. Regina should capitalize on these strengths by promoting the business services to expand and acquire more clients.

External – Threats.

Threats are situations that jeopardize the implementation of an organization’s plans and business activities, making it impossible or hard for the organization to achieve its set goals. Threats present as disadvantages to a business (GÜREL, 2017). Regina faces some threats in the business. First, the business’s technical competitive advantage can be easily duplicated once its marketing management systems are understood. She should counteract this threat by applying for a patent for her new business method to bar competitors from duplicating the organization’s competitive advantage. Second, there are 11 other marketing agencies operating in the region that might expand and offer stiff competition to Regina’s business. The business can counteract this threat by setting competitive pricing and constantly improving its business model to stay ahead of the competition.

References

GÜREL, E., 2017. SWOT ANALYSIS: A THEORETICAL REVIEW. Journal of International Social Research, 10(51), pp.994-1006.

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Business owners use SWOT analysis as a tool to gain a new look at the strategic operation of a business. Business owners analyze the internal environment of a business by considering its internal strengths and weaknesses. For example, as a strength, a business might possess a patent that is unique to an industry, which grants the business a considerable competitive advantage. A weakness might be that the patent is close to expiration.

After analyzing the internal environment, the business owner also examines the external environment of the business, considering the opportunities and threats. For example, on most corners where a CVS is located, you will also see a nearby Walgreens. This is an example of a threat by CVS. The threat is represented by CVS having the ability to monopolize the local market in which the CVS is located. Walgreens establishes a nearby location, protecting itself from the effects of the competition in the market. An opportunity for the two organizations might be a partnership or joint venture between the companies.

Regina Poincy-Zimmerman has formed a business with a unique approach to the marketing industry. Regina’s organization is specializing in social media analytics. At the point of formation, Regina had only one other consultant working with her. Regina has garnered new clients requiring service in the next three months. Servicing the clients is beyond Regina’s personal capabilities because of time constraints. The marketing industry in Regina’s region has no other agency specializing in social media analytics. Once the marketing management systems used for her analyses are known, the processes can be duplicated. There are 11 other marketing agencies in Regina’s region.

For this discussion, review the format of the SWOT analysis provided in the study. Locate at least one credible Internet article that provides guidance on achieving successful scrutiny of the SWOT analysis. Using proper APA format, either paraphrase or quote from your article. Recalling the reading and from the information provided, choose one internal and one external aspect of the SWOT analysis and explain what you see as critical elements of the organization requiring Regina’s attention. Tip: Carefully label the internal and external elements you are discussing in separate paragraphs so your peers recognize your chosen topics. For example, Internal – Strengths or External – Threats.