Some individuals, when faced with a large decision or opportunity, will step back, analyze the situation, and come up with a plan of action. What they are doing is creating a development strategy. Small business entrepreneurs, when faced with generating a strategic plan for their business, are wise to do the same.
XFor this Assignment, you will analyze a small business plan and generate a SWOT analysis. To begin, refer to the SWOT analysis overview in your Entrepreneurial Small Business textbook. Next, select a business plan from the following database in the Walden Library: Business Plans Handbooks (Gale Virtual Reference Library). Be sure that the business plan you select does not already contain a SWOT analysis.
In your 2- to 3-page paper:
- Identify the business plan you selected, and provide a concise description of the plan.
- Perform a SWOT analysis. See page 261-262 as a reference for the level of detailed information.
- Include a SWOT analysis chart/grid with some of the main highlights of your SWOT analysis.
In addition, be sure to address the following:
- Based on the outcome of the SWOT analysis, which strategic direction appears best for the business?
- Which business environmental factors would affect the company’s success?
- Recommend specific strategies the business should take given the outcome of the strategic direction and environmental factors identified. Justify your recommendations.