Strategic Plan Part II: SWOTT Analysis

Anonymous
timer Asked: Feb 5th, 2018
account_balance_wallet $30

Question description

I have attached my previous weeks assignment that this one will be built on.

Purpose of Assignment

Students gain experience conducting an internal and external environmental analysis for their proposed new division and its business model. They will also gain valuable experience in conducting a SWOTT analysis for their proposed division.

Assignment Steps

Resources: Strategic Planning Outline and Week 3 textbook readings

Conduct an internal and external environmental analysis for your proposed new division and its business model.

Develop a SWOTT table summarizing your findings. Your environmental analysis should consider, at a minimum, the factors below.

  • For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
  • Include the SWOTT table in your submission.
    • External forces and trends considerations:
      • Industry Changes
      • Legal and regulatory
      • Global
      • Economic
      • Technological
      • Innovation
      • Social
      • Environmental
      • Competitive analysis
    • Internal forces and trends considerations:
      • Strategy
      • Structures
      • Processes and systems
      • Resources
      • Goals
      • Strategic capabilities
      • Culture
      • Technologies
      • Innovations
      • Intellectual property
      • Leadership

Compose a maximum of 1,400-word synopsis in which you analyze relevant forces and trends from the list above. Your analysis must include the following:

  • Identify economic, legal, and regulatory forces and trends.
  • Critique how well the organization adapts to change.
  • Analyze and explain the supply chain of the new division of the existing business. Share your plans to develop and leverage core competencies and resources within the supply chain in an effort to make a positive impact on the business model and the various stakeholders.
  • Discuss the primary internal organizational considerations for the development of a strategic plan.
  • Identify the major issues and/or opportunities the company faces based on your analysis.

Format your assignment consistent with APA guidelines.

At American Family Insurance Group, they know that they must be as agile as the cheetah in order to thrive in the currently very competitive insurance environment. Their unique culture has enabled them to quickly chase down new opportunities, adapt to new products and services to best market demands. That is why American Family Insurance Group is currently developing a new plan offering affordable insurance rates for new drivers under the age of 18. Many parents grumble about the high cost of adding their new driver to their current insurance policy. There are many risk that drive the high cost of adding new drivers. American Family Insurance group is going to provide a 3 month class for a reasonable price that upon completion offers a discounted rate for adding new drivers. This class in theory will help the new drivers become more aware of the various risk and dangers of the road by offering simulated situations and teaching the new drivers how to react in those circumstances. By repeatedly doing so it will become an instinctive reaction producing more responsible young drivers. Social responsibility, as applied to American Family Insurance Group’s business behavior, balances strategic actions to benefit shareholders against the duty to be a good corporate citizen. The managers must display a social conscience in operating the business and specifically take into account how management decisions and company actions affect the well-being of employees, local communities, and society at large. In conclusion, the drive to be the best has made American Family Insurance Group one of the largest and most respected independent insurance intermediaries in the nation, with over 5,400 employees, 69 years of continuous and annual sales approaching $1 billion. In order to survive, the Cheetah is always looking for its next meal. Like the Cheetah, American Family Insurance Group is always looking for way to grow and survive. Targeting new drivers is American Family Insurance Groups new endeavor.

Tutor Answer

MrMark
School: Cornell University

Hello! Find the answer attached. Thank you.

Running head: AMERICAN FAMILY INSURANCE GROUP SWOT ANALYSIS
AMERICAN FAMILY INSURANCE GROUP SWOT ANALYSIS
Name:
Course:
Institution:
Date:

1

AMERICAN FAMILY INSURANCE GROUP SWOT ANALYSIS

2

Introduction
Business entities in various industrious operate in different environments. The
environment in which a firm operates in determines its success significantly. The environment in
which a firm may provide various opportunities which a firm can utilize to gain some
competitive edge over its rivals in the environment. This way, the business entity can grow
significantly hence promote its performance in the industry. The management of a firm also
plays a very critical role in determining the success of it in the industry. This way, the firm can
outperform its rivals in the market. This paper seeks to explore the SWOT analysis of American
Family Insurance Group new division operation. The internal a well as external forces in the
environment affecting the operations of the firm in the industry will be analyzed in detail.
Discussion
American Family Insurance Group intention to introduce a new division of operation in
the market seeks to promote its performance in the industry. The new line of service is aimed at
improving the performance of the company in the industry (Noe, Hollenbeck, Gerhart & Wright,
2003). This is because the firm will be able to raise extra income from the new line of service in
the market. The program will also promote carefulness of young drivers in the market. This way,
the number of accidents will be reduced in the country. The affordable rate insurance program
for young drivers in the country will also benefit the parents significantly since all the accidents
caused by young people under the age of 18 years will be covered in the market. This way, the
costs involved in paying for the damage caused when an accident occurs will be reduced. The
new line of service targets the youths in the United States since it covers drivers under the age of
18 years. Introduction of this line of service is a strategy by American Family Insurance Group
company in the market to gains some competitive advantage over its rivals in the market.

AMERICAN FAMILY INSURANCE GROUP SWOT ANALYSIS

3

Like any other business entity in the market, the environment in which American Family
Insurance Group operates in will greatly determine its performance in the industry (Noe,
Hollenbeck, Gerhart & Wright, 2003). The environment in which a firm operates in can be
divided into two; internal and external environment. The internal environment entails the
workers as well as management of a firm in the industry. The internal forces determine the
weakness as well as the strengths of a firm in the industry. The external environment, on the
other hand, provides opportunities as well as threats to the operations of a business entity. The
American Family Insurance Group operations will, therefore, be affected significantly by both
the internal and external environment in which it operates in. The analysis of the environment in
which a firm operates in entails its SWOT analysis.
SWOT Analysis
SWOT is an abbreviated form of Strengths, Weakness, Opportunity, and Threats of a
firm. Analysis of these aspects is very crucial in determining the success of a firm in the industry
(Kajanus, Leskinen, Kurttila & Kangas, 2012). The analysis also helps a business entity identify
the areas it needs to improve on as well as the areas it should keep improving or maintain them.
An analysis of American Family Insurance Group new division will, therefore, help it improve
its performance in the market hence lead to the achievement of its set goals and objectives.
Internal Forces and Trends Consideration
The internal forces of American Family Insurance Group regarding the new division it has
introduced in the market entails the strengths as well as the weakness it has. The identification of
these aspects will greatly promote the performance of the company in the market.
Strengths.

AMERICAN FAMILY INSURANCE GROUP SWOT ANALYSIS

4

It has very effective strategies that help the firm gain some competitive edge over its
rivals in the market. American Family Insurance Group can study the market effective and
design strategies that will help it gain some competitive edge over its rivals in the market
(Mali...

flag Report DMCA
Review

Anonymous
Outstanding Job!!!!

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors