Control Implementation

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Running head: ENVIRONMENTAL PLANNING AND GOAL SETTING 1

ENVIRONMENTAL PLANNING AND GOAL SETTING 4

Environmental Planning and Goal Setting

Shondella Baker

Rasmussen University Online

10/30/2015

Environmental Planning and Goal Setting

Evaluation and Initial Planning Checklist Create a SWOT analysis for your company. Each section should have at least three points. You can be creative and invent points for the strengths and weaknesses section.

While starting a lace wig company, one needs to first do an initial evaluation and planning checklist before putting the company in place. Choosing the right lace wigs requires prior planning and consideration of some important factor. One of the factors to consider is the external environment of the business which refers to the things that the business cannot control. One of the factors is the competitors who pose a problem with the products that they offer (Moss, 2001). Thus the business should come up with good competitive strategies to deal with the competition. The other factor is the social cultural factors concerning how people believe about the wigs. In order for a business to thrive, the customers must have positive beliefs on the product its offering. The business should convince people to give a trial to their products. The other factor is the economic factors inform of taxes, general demand for the goods and the fluctuating interest rates.

SWOT analysis is a useful technique for understanding the strengths and weaknesses of a business and identifying both the opportunities and the threats open to the business (Rampersad, 2009). In a business, the analysis helps to carve a sustainable niche in the market. A SWOT analysis is thus very helpful for the lace wig company. One of the strength that the lace wig company has is the availability of knowledge and wide variety of skills. Having worked in a wig company before, I have the knowledge of how to run the company and I can also identify the high quality and low quality materials. The second strength is the ability of acquiring raw materials at a cheaper cost which is an added advantage because the company is able to sell its wigs at a cheap and affordable price to the customers. The company is also able to supply a wide variety of wigs unlike its competitors both cheap and expensive ones that accommodates all kinds of customers.

One of the weaknesses that lead to low sales is that the employees lack good interpersonal relationships to interact with the customers and convince them to buy our products. The second weakness is the less retail stores. The company should improve on their market by setting up several shops to sell their goods instead of customers crowding up in one store thus discouraging other customers who are in a hurry and needs to be served fast. The third weakness is that the company fails to do good marketing of its product through advertising on the televisions and the social media websites.

Evaluate the external environment and apply what you learn to the opportunities and threats section

The company has great opportunities due to the high population of the females because they are the ones who mostly use the product. This creates a good market for the company thus increasing its sales. The other opportunity is that customers in the society are attracted by new things in the market so the company can rebrand its products to increase the sales volume. The threat of the business is the availability of other well thriving and known lace wig companies in the market. The weakness of the customers to have weak interpersonal skills is also a threat to the business and they thus needs to be trained on good relation skills. The fast change of the products and coming up of new products is also a threat to the business.

Apply the data you've gathered from the SWOT to create two SMART goals that you'd like your business to accomplish.

One of the goals of the lace wig company is to train people before employing them in the company on how to interact with the customers in order to facilitate good communication skills and attract more customers. The second goal is on increasing the sales within the next two weeks. This can be achieved through marketing and advertising of the company’s products. The target for the increase in sales set should be realistic enough to avoid discouraging the motivation.

References

Moss, S. (2001). Cosmetics and fashion : a comprehensive guide to materials and applications. New York: Costume & Fashion Press.

Rampersad, H. (2009). Authentic personal branding and management of a company in accordance to swot analysis Charlotte, N.C: IAP/Information Age Pub.

Tschäppeler, R. & Krogerus, M. (2011). Business planning and evaluation. London: Profile.