buss599assignment 4

Strayer University

23 July 2019

My goal is to do my best to meet the needs of potential clients.

SWOT Analysis: It is a strategic planning tool which is used to identify and analyze the

strengths, weaknesses, opportunities and threats involved in your project. “The overall

evaluation of a company’s strengths, weaknesses, opportunities, and threats is called SWOT

analysis” (Kotler & Keller, 2016).

SWOT Analysis

'S' stands for Strengths 'W' stands for Weaknesses 'O' stands for Opportunities 'T' stands for Threats

Strengths

These are the attributes of your project/organization which are helpful in achieving project's objectives. For e.g.: experienced event team, high motivation level, excellent PR, good market share etc.:

To create a strong event, you’ll want a measurable return on your investment. Your business outcomes, such as booking new clients or improving worker productivity, will become the strengths of your event, rather than factors such as attendance or hitting budget. If your main event goal is to produce revenue, cost-control, as well as income, will be a strength. A lack of competition and free media coverage are often strengths if you rely on public attendance, donations, sponsorships and revenue for success.

Weaknesses

The attributes of your organization which are harmful in achieving project's objectives, lack of funds, inexperienced event team, low energy level, lack of media and contacts etc.

Weaknesses for events often include over budgeted expenses, such as room rates, audiovisual fees and food and beverage costs that can be significantly higher than if you rented your own space and brought in your own items. Your mailing list and marketing options can be a weaknesses if you rely on attendance for success. If you solely rely on press coverage

attendance and sponsorships for success will be a major weakness and will certainly hinder success.

Opportunities

Opportunities are those external factors which are helpful in achieving the project's objectives such as; competition, economic conditions, and support from local entities

The key to creating a successful event is to demonstrate a need in the marketplace. Surveying potential attendees and sponsors will help you identify for potential clients and future opportunities.

Threats

Your logistics, along with your goals, will help you best determine threats. Common event

threats include bad weather, competition, expensive airfares or room rates, poor dates, inability

to find a title sponsor, poor speakers and a downturn in the economy that reduces education and

travel budgets. Because large events are often planned a year or more in advance, some of these

threats can’t be known until after you’ve committed to and announced your event.