Strategic Plan Part II: SWOTT Analysis
June 9, 2014
As a new business owner one must understand that when starting out there is great potential to succeed as well as fail. External and internal factors are two of the greatest factors to the success or failure of a business. The purpose for this paper is to define some of these external and internal factors for Next Level Transition Center and see how well they are able to adapt to them. Also an analysis will be conducted to identify major issues or opportunities the company may face from any forces and trends. External Forces and Trends
As with any company, as for external forces and trends, the impact on my business can be attributed to several forces. New environmental, competition, economic legal and regulatory, social, and technological architecture throughout the last decades have stimulated changes in the delivery of career services. Recent economic conditions have transformed the employment market, causing near insurmountable challenges and issues for new employees looking to start a new career in the workforce. Environmental Forces and Trends
Next Level Transition Center, Inc. is a small, independently owned start-up company founded in 2014 with operations to begin July 1,2015; the ribbon cutting of the facility. Of the fourteen full-time employees, four key employees will be instrumental in carrying out this marketing plan. The key players include: Charles L. Cowan, President and CEO; Melissa Cowan, CFO; Charles L. Cowan Jr., Marketing Manager; and Jasmine and Jalene Cowan, Facility Coordinator.
Competitive Forces and Trends
It has been determined that there are not any transitional centers within a forty-mile radius that provides the same services in one location. Although there are not any transitional centers that provide these same services there are 6 transitional centers in a forty mile radius. The competition inside the forty radiuses is not extremely competitive due to the fact they only offer services to those that have been in the job market before. We not only offer services to that demographic of people but also to the demographic that has never been in the job market. This makes available a benefit as the transitional center has something different, and new to offer. In addition, the transitional center is located downtown in a centralized area which gives advantages over other transitional centers. Economic Forces and Trends
Economic forces can be a serious external force and trend to businesses either never starting or lasting. Instability of the United States economy and the loss of many jobs have forced individuals to live off of savings, governmental assistance and unemployment. However, there is a population that has lived off of governmental assistance due to various reasons and never been in the workforce. Legal and Regulatory Forces and Trends
In regards to legal and regulatory forces and trends that would affect this business would be the building inspection. All businesses all facilities must comply with EPA, OSHA, State and local governmental safety guidelines. There are no other regulatory or legal forces impacting Next Level Transition Center, Inc., operations at this time; however, caution must be taken to protect the company from frivolous lawsuits as well as legitimate suits.
Technological Forces and Trends
Advances in the way employers look for employees especially in South Carolina is very tech savvy. The Workkeys application will be used as a tool to assist with finding employment for our clients and also what skills are required in order to effectively establish training curriculums. It is imperative to maintain an excellent superior in-house database to maintain all client information and employers’ information Social Forces and Trends
A potential competitive advantage for Next Level Transition Center is their...
References: Pearce, John A. , & Robinson, Richard B. . (2009). Strategic management. formulation, implementation, and control. United States: McGraw-Hill.
Thompson, Arthur A. , Gamble, John E. , & Strickland, A. J. (2006). Strategy: winning in the marketplace: core concepts, analytical tools, cases. United States: McGraw-Hill Companies.
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