Industrial Organizational Psychology

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Pyhpvyyr22

Humanities

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Assignment 1: Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis

The assigned readings for Module 2 on strengths, weaknesses, opportunities, and threats (SWOT) analysis highlighted the importance of such an activity and provided the method of conducting it. In this assignment, you will conduct a hypothetical strengths, weaknesses, opportunities, and threats (SWOT) analysis.

Envision you and a handful of colleagues wish to start a business. In order to develop the best strategy for entering the market, you need to conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.

Perform the following:

  • Select a product or a service (A cosmetic brand or cosmetic store) to base the business on.
  • List (at least) four strengths, four weaknesses, two opportunities, and two threats. These should be thoughtful and realistic for a start-up organization.
  • Outline the business strategy on the basis of the results of the strengths, weaknesses, opportunities, and threats (SWOT) analysis.

Hints:

  • Leverage your small, agile size and innovative product/service for strengths.
  • Consider the downside of being new and small for weaknesses.
  • Think big for opportunities.
  • Beware of the market leader or technology changes as threats.
  • All of these should be tailored to the selected product or service.

Note: Click here to view an example of strengths, weaknesses, opportunities, and threats (SWOT) analysis and its resulting strategy.

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Explanation & Answer

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Attached.

Developing A Business Strategy Using the SWOT Analysis – Outline
Thesis: Conducting the strength, weaknesses, opportunities, and threats analysis help in the
development of the best strategies for entering the market with the new skin moisturizer lotion.
I.

Strengths

1. The ability to respond to the customers’ needs and preferences as the workers have
enough time to serve the customers
2. The flexible human resource as the business require few but skilled and knowledgeable
staffs which is easily manageable and adjustable.
3. The brand attributes of the cosmetic lotion product are unique with clear marketing
strategies, qualities that differentiate the business from its competitors.
4. Lastly, only a few tangible assets are required for the business operations hence low
capital is needed to start and operate the business.
II.

Weaknesses

1. The financial resource limitation to meet up the budget for operating the business
2. The small skilled staff that makes the business risk the chances of low production levels
especially during employees’ absenteeism due to unavoidable circumstances
3. The product is new to customers hence there is little market reputation which can r...


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