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Running head: SWOT ANALYSIS 1

SWOT ANALYSIS 8

SWOT Analysis

Excelsior College

Integrated Business and Management Assessment

Introduction

I plan to use my SWOT Analysis to show how making small changes within the company can increase the company brand. While showing some things we need to look out for can assist the company in preparing for economy changes. As well as keep an upper hand over our competitors. Our Strengths we will stand behind is Knowledge of the industry and longevity. Shows the world we can continue to change with the times and continue to maintain a top-notch performance service. We need to work on developing a comprehensive training program for new employees. To counter the issue of a high turnover ratio of employees after a contract is complete. Overall update and build a Standard Operation Procedure Policy. This too can help with high turnover of employees and lack of skills. The Opportunities I see in the future comes with market growth. More countries will notice our business because of our performance history. This is turn will expand our reach to more businesses internationally. We have already worked with the military in other countries. We can take this chance to network and develop relationships. To capitalize on this opportunity, we use Human Resources to hire the best individuals with certain skill sets. Needed to get these different projects off the ground as soon as possible. A threat to our company is the competitors attempting to under bid us for various contracts. To deal with this issue, we let our reputation with existing customers do the talking with numbers. The reviews of our industry leading performance will have our business be the first company others want to service them. Also, beware of the market prices that could increase when we use others to manufacture parts for us to complete different projects.

SWOT ANAYLSIS
STRENGTHS	OPPORTUNITIES
Knowledge - We know what the customer wants and needs Reputation - Known for Top Notch Service Existing Customers - Gov't / Military	Market Growth - Services we provide can be expanded internationally Human Resources - Hire new Experienced individuals with certain skill sets Network/ Relationships - Search for suppliers to get materials at an affordable price
WEAKNESSES	THREATS
Training - lack of expertise and skills Turnover Ratio - When contracts are complete employees are terminated Operating Procedures - Improve and Standardize for each section	Competitors- may want to under bid for contracts Market Prices - Could increase for materials in the future

I would like to brief everyone on ways we can correct some weaknesses I have come across while working with Kellogg’s Brown & Root. Here is a business strategy plan that could help us stay a step up on our competitors. As well as build a culture employees will stay with into the future.

Main Body

Initially, the company should have Supervisors and managers read over the Operating Procedures. Go step by step comparing it to the steps every employee uses at work. Check it against all situations that a Specialist will encounter while working. Make the necessary updates and have the policies signed and published as a certified company document. Ensure each employee has access to the policy in a hard copy and digital copy.

Next our company needs to develop a training program for new hires. During this time, a new hire will get access to all accounts and company websites and become educated to all policies and procedures. Every new hire should go through an 80-hour course of completing all steps until they are proficient. This will enable managers to oversee an employee’s competence. As well ability to learn and perform the job asked of them. The best part of scientific management theorists is that the managers can have good control overproduction. Employees become specialists in their field as they do the same task repeatedly (Reddy, 2019). Additionally, this methodology can develop training through choosing and directing employees closely. Since scientific selection and training methods follow, it leads to a workforce that is best and enhances efficiency (Reddy, 2019).

Another weakness that needs to change is employee retention. In the past, many employees were either quit or left once a contract was completed. A way to fix this is by going a selective hiring process. Include the hiring manager and supervisors who the new hire will work for. Let these individuals have a say in will work for them. Ensure the salary we pay is fair and worth staying around for. When available include flexible work schedules. Life does happen, so we should be empathic to the change’s life brings. Provide a work environment and culture that individual would want to work for. An employee should not be disgruntled because of being in an unhappy work environment. Offer flexible work schedules. Ensure employees are well prepared to do what their job requires like travel, late nights, vacations and so on. Provide comfortable work environment and culture. Provide ample training and support new hires till they can manage on their own (Florentine, 2019). We need to have an award program to recognize personnel that are over achievers. People want to be acknowledged for going the extra mile and performing above their peers.

References

Florentine, Sharon. “6 Sure-Fire Ways to Improve Employee Retention.” Recruiterbox Blog, 2019, recruiterbox.com/blog/6-sure-fire-ways-to-improve-employee-retention.

Reddy, Chitra, et al. “Scientific Management Theory: Advantages and Disadvantages.” WiseStep, 28 Nov. 2019, content.wisestep.com/advantage-disadvantage-scientific-management-theory/.