Crisis Management
For this Discussion Question I choose Mastercard, Inc. and I will Do a SWOT Analysis on this Company.
What is SWOT analysis: is a strategic tool that is powerful in the development of a good business strategy of a new business or one that has been in existence.
• SWOT analysis exposes organizations making them get viewed and therefore ease of measuring performance.
• It is used by business to analyze their strengths which they can leverage on to penetrate the market and help to meet its targets.
• It lets organizations get visibility on their weaknesses and therefore helping them to improve. This is vital as it assists firms to mitigate against any future occurrence and therefore some long-term growth of the business.
• Using the SWOT analysis, a business can create a unique strategic plan to that guide it towards achievement of its goals it has mapped out over a period.
• Having a good SWOT helps organizations to better identify and understands the factors within its scope or from outside that have a positive or negative impact on the business. These details can be utilized by the business in planning what appropriate actions to maintain their position while looking for more growth opportunities.
Crisis management plan: A crisis management plan (CMP) is how a business plans to react to a crisis that occurs to it as well as a detailed plan for the steps to be taken to minimize the risks associated with the occurrence of a crisis, the resources need especially personnel and the list of activities they must accomplish to lower the risks from the crisis as much as possible.
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Strength: |
Potential Crisis: |
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1. Strong for distributing their products |
The distribution channels can be disturbed by crisis like current pandemic entry into customer regions are challenge. |
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2. New markets that are performing well |
The crisis like in Israel and Palestine is that of instability either civil or otherwise to reach those markets. |
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3. Strong dealer community globally |
Change in policy requirements in the various parts the world can negatively affect them through loss of business. |
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Weakness: |
Potential Crisis: |
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1. Low investment in Research and Development (R& D) |
New products can easily push it out of business due to low innovations. |
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2. High number of missed opportunities in the market. |
The crisis is the change in priorities by competitors and do more of (R&D) |
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3. Organization does not used the current business model |
A change in the policy or economic situation would put MasterCard in warpath with other emerging service providers |
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Opportunities: |
Potential Crisis: |
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1. New trends in the consumer behavior |
The trends must change throwing Mastercard into disarray |
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2. New customers from online channel |
Online policies changing very often |
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3. The new technology that Mastercard adopts |
Change in consumer preferences |
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Threats: |
Potential Crisis: |
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1. New technologies by the competitor |
The crisis is if their company cannot access any new source of innovation that would cause huge losses. |
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2. New environment regulations under Paris agreement |
When the policies are changed then it would bring some segments of business worthless. |
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3. Intense competition in the Global Market |
When more competitors enter their market, they shift the demand away from Mastercard
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