Fortunately, there are tools available to evaluate a business venture prior to its undertaking. Tools such as a SWOT analysis as well as a PEST analysis are two valuable tools available for establishing a successful business strategy. SWOT Analysis A SWOT analysis explores an organization’s internal strengths and weaknesses factors as well as the external factors of opportunities and threats (Wayland
A SWOT analysis helps business assess the strengths, weaknesses, opportunities and threats within the business as well as outside of the business. In order for businesses to be successful they have to build on their strengths, correct their weaknesses, recognize and exploit their opportunities and protect the business against external threats. (http://www.managementstudyguide.com/swot-analysis.htm - 31 March 2015) WHY IT IS NECESSARY TO CONDUCT A SWOT
The five forces are divided into two dimensions, the horizontal and vertical forces. Horizontal forces are threat of substitutes, threat of new entrants, competitive rivalry and vertical forces are bargaining power of buyers and bargaining power of customers (Martin, 2014). By understanding which forces are most powerful, the theory can also be used to identify areas of strength, to improve weaknesses and to avoid mistakes. According to the Entrepreneurial Insights magazine, a business may enter new markets in several ways. If a company is taking over an existing firm, from outside the industry, bringing along innovation and expertise, it may change the competitive dynamics in the existing market.
For these small businesses to stand in the market, they have to make a clear way of how the business is run. The last element that helps these small businesses to continue in the market is the local rivals. Local rivals push each other to lower costs, improve quality and service, and generate new products and processes. Porter claims that domestic rivalry and the search for competitive advantage within a nation can help offer organizations with bases for accomplishing such advantage on a more global scale. For example Juhayna has strategy which is dedicated to providing high-quality, healthy, and safe products to its consumers.
The outcome of this research question is to show the reader the commercial relevance of Global Business Teams and how international companies transfer working strategies within cross-border teams to be successful. This leads to the second research question: Q2: Which strategies do cross-border teams use? To successfully create a cross-border team, a company needs tactical and logical strategies in order to overcome different barriers. This research paper will present answers to these questions, by using real life examples of the multinational enterprise Deutsche
CSR is important for the multinationals to perform in foreign countries because of the growing competition and other challenges that are faced by an organization; the management theory is used as a tool to encounter such challenges ( Ismail, 2009). Donaldson (1989, cited in Secchi, 2007 :359) CSR also acts upon the firms managerial decisions when there are problems such as clashes, protests and strikes, these lay down the moral values, above profit maximization. Managerial theories performance depends on stakeholders trust, co operation and acceptance. Garrige and Mele ( 2004) Detomasi( 2008) were all of a view that social power drives the social responsibility as the corporation is a corporate citizen, who has investment in the community. Davies (1960) stated that CSR is a political power and therefore must be used responsibly as a business is social institution; its power comes from both within and outside.
In this paper, the researches study on how they will make the business to be more competitive and effective inside and outside of the market. The study includes the situational analysis that consists of the Marketing Environment, political forces, economic forces, social forces, and technological forces (PEST). The SWOT Analysis is also indicated in the study, that it explains the Strength, Weaknesses, Opportunities and Threats of the client. The SWOT Matrix are also included, which it explains the combination of the SO (Strength,Opportunities), WO (Weaknesses,Opportunities),ST ( Strength,Threats) and lastly is, WT (Weakness,Threats). Lastly, the researchers make a study on how to strategize the market.
Moreover, this will help the corporate executives know the changes that occur outside the organization. What has happened and future trends? These data will be very useful for determining vision, planning strategies and applying with the currently situation. Value Chain is a strategic tool for analyzing the business 's activities with clear goals for value development to achieve the maximize performance such as efficiently planning, supporting, operation, inventory, transportation and distribution’s processes. The cost of production or the cost of the company is significant or competitive advantage compared to competitors as well.
What do you competitors and client in your market perceive as your strengths? What is your organizations competitive edge? Opportunities show what political, economic, social cultural, or technology changes are taking place that could be favourable to you? Where are there currently gaps in the market or unfulfilled demand? What new innovation could your company bring to the market?
For this exercise a combined SWOT & PESTEL analysis will be used to establish the strengths, weaknesses (internal factors) and opportunities and threats as well as Political, Economic, Social, Technological, Environmental (external) factors of Casela World of Adventures. The PRIMO-F model helps to develop a more efficient SWOT and structures it and the PESTEL analysis model provides the structure for SWOT, thus this model was developed by RapidBI team. He helps to provide a consistent structure for comparing and benchmarking within the company or benchmark against previous analysis or competitors. Table 1 shows Combined PRIMO-F / SWOT / PESTLE for Casela World of Adventures Strengths People: • Qualified and specific people to work with