Wk8: Article Review & Wk8: Strategic Profile Analysis

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WK2 STRATEGIC PLANNING

Trae Clavo

Doctor of Business, University of Trevecca

Cur Topics/ Business Strategy (BUS-8020-O06.2)

Dr. Rick Mann

March 27, 2022

Building a strategic organization is the desire of every investor when it comes to the performance of that organization. Every party in the organization is exposed to quickly understand the essentials of strategic planning through building a strategic organization. In any organization, strategic planning helps develop the organization and its transformation. Based on the clarion Nashville clarion strategy, a leader is made by practicing some tools necessary in strategic planning but not born (Mann, 2019). For a good leader to be made, an organization must be included that makes that leader. As an organization tries to bring up and build good leaders in its workforce, there are several strategies that the company has to employ. For a company to succeed in its strategic implementation, there must be thought of a good plan at first.

Among the business strategies employed in organizations aiming at achieving their objectives is cost leadership. The cost of administration deals with an organization's effort to achieve the market advantage due to the fair prices of their products. An organization can take this as one of the best modes or strategies to put in practice for the organization to achieve market competition. For any business to conduct good planning for its strategy, it must consider the organization's SWOT analysis. SWOT analysis is the acronym for the strengths, weaknesses, opportunities, and weaknesses that the organization may face. For any efficient organization plan, the consideration of SWOT analysis should be well viewed to know the state of the organization, whether the organization is performing well in its production cost or experiencing high prices in its commodities. Identical to organization performance, good planning should also consider the business's strengths and the possibility of business performance. The mission of this tool In strategic planning can be much inviting. SWOT analysis positions one in a clear view of their internal organization's environment. SWOT-analysis helps the organization know all factors that make the organization in depth (Dutton, 1997).

The SWOT analysis helps one build on which area one is better in and makes one realize what is not available, understand what one is capable of, and how to curb the risk that may occur. The SWOT analysis identifies the strengths, weaknesses, opportunities, and threats that can bring defects to the organization as it persuades its goal. The theme of swot analysis will be the business outlook. The business outlook is concerned with all the patterns and shifts of business behavior. When we consider the business general outlook, we look at both strengths, weaknesses, opportunities, and threats that the organization is likely to face in the long run of the operation. Swot analysis is the framework of identifying and analyzing the organization's strength to perform, the weaknesses it may encounter, which opportunities are available in the organization, and what threats are likely to face the organization's operation s towards its success (Terrados,& Hontoria,2007).

Identifying all the bases of the swot analysis is the primary objective of any plan concerning the swot analysis as a tool. As one understands what swot analysis is, there will be easy identification of the best method for organization cost leadership. Swot analysis also aims to increase and spread awareness of the primary factors that must be considered when deciding on an organization. Since decision making is a susceptible area in business planning, the use of swot analysis helps an organization come up with a clear understanding of the factors driving the organization's operations; by so doing, the organization is therefore going to come up with an excellent decision. Establishing a business strategy is also one of the swot analysis objectives. The establishment and implementation of the method mean a good review of the swot analyses. A SWOT analysis should be detailed and well elaborated when establishing a business strategy. For any form to occur, swot analysis showing which system to use should be considered most.

For instance, there can be many opportunities in the organization; for a strategic plan to be carried out, the organization should not only look on the side of possibilities of achieving lower prices only and go on making the decision. A swot analysis should be considered for an excellent strategy to be established. Supposed there were more opportunities and more threats to risk, if the decision for the plan was out of the possibilities of the business, the cost leadership strategy established is going to fail. Instead, the system should consider the weight of both factored before coming up with the final plan of the decision. In the case of spreading awareness, swot analysis is therefore considered when coming up with a business's strategy. As one gets to know more about the swot analysis in any business or organization, stakeholders gain a stand to grow in business ideas.

Creating awareness can be exercised by identifying the organization's opportunities and any threat that may face the organization. The workforce in any business should observe the swot analysis much keenly when seeking the advancement of the organization. Therefore, the force in the organization should develop a mindset that focuses not only on the opportunities of the business to lower the price but also on the other factors affecting the organization, whether positively or negatively. The employees in any company can take up coaching to better understand the organization's swot analysis. According to Mann, R. 2019, coaching helps the employees understand then business outlook better, and by this, the business can fall in a good performance in terms of its sales (Aldehayyat& Anchor, 2008).

For the better application of the cost leadership strategic plans with consideration of swot analysis, an organization can impose a practice of raising the availability of the opportunities in that business. The organization can increase the chances and reduce the threat occurrence by creating awareness of the problems associated with the threats facing the organization and educating them on how the possibilities of an organization can help grow the organization. Awareness is created for the employees and workforce of different organizations through social media. Since technology has developed, creating awareness should also be advanced. For instance, the organization can use computers and the internet for attention.

In the case of decision-making, an organization can also develop an excellent initiative to enhance good decision-making due to swot analysis. The organization can include all its stakeholders in the decision-making in case of new strategy implementation. When the stakeholder is included in the decision-making, they can contribute to the organization's outlook. Hence, the organization can come up with the decision to achieve lower costs and reasonable commodity pricing. The organization can only come up with a decision of a strategy if only it is aware of its strengths, weaknesses, opportunities, and threats. The only parties who can give the review of the organization's outlook better are only the stakeholders who operate in that organization; hence giving them a chance in decision making will be of importance.

Reference

Aldehayyat, J. S., & Anchor, J. R. (2008). Strategic planning tools and techniques in Jordan: awareness and use. Strategic change, 17(7‐8), 281-293.https://onlinelibrary.wiley.com/doi/abs/10.1002/jsc.833

Dutton, J. E. (1997). Strategic agenda building in organizations. Organizational decision making, 81, 105.https://books.google.com/books?hl=en&lr=&id=C7KbGmTg3qUC&oi=fnd&pg=PA81&dq=Building+strategic+organizations&ots=nNVEwlry6s&sig=U8m7WHp7UhL2cKrvNLj4y2iDgOM

Mann, R. (2019). Building strategic organizations: The first five tools of strategy and strategic planning. Nashville: ClarionStrategy. 

Terrados, J., Almonacid, G., & Hontoria, L. (2007). Regional energy planning through SWOT analysis and strategic planning tools.: Impact on renewables development. Renewable and sustainable energy reviews, 11(6), 1275-1287.https://www.sciencedirect.com/science/article/pii/S1364032105001000