unit 2, essat for tom muntunga

SWOT Analysis-Cornerstone Staffing Agency

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SWOT Analysis-Cornerstone Staffing Agency

Introduction

According to Gretzky (2010), SWOT analysis refers to an examination of a company’s strengths and weaknesses as the internal factors and the opportunities and threats as the external factors. The opportunities are used for company growth and improvement. Ideally, SWOT analysis is a pioneer to strategic planning and is usually conducted by experts who analysis a company from a critical viewpoint. SWOT analysis is a decision-making tool that plans the work of a company. This paper aims to express the SWOT analysis for Cornerstone Staffing Agency.

Cornerstone Staffing Agency

Staffing agencies refer to organizations that are used to recruit staff to fill positions in a company. Staffing agencies help job seekers to secure employment. Additionally, it provides wide-ranging recruitment services (Eichhorst & Braga, 2013). Cornerstone Staffing Agency engages the delivery of professional services within the scope of business structuring and consulting. The company helps firms to build a strong consulting organization that can constructively compete in extremely competitive firms. Part of the company team conducted a SWOT analysis for the company, and the results were as follows.

Strengths

Strengths are factors that promote organizational performance. The strength for Cornerstone Staffing Agency lies within team work. The company is comprised of experienced experts. The team has outstanding experience and qualifications in training and recruiting. The company is well positioned within the business district besides the synergy that occurs in the well-selected workforce. The company has, therefore, the potential to attract a lot of corporate customers from the daily operations of the company.

Weaknesses

Weaknesses are the factors that increase the cost of operations or reduce the quality of service delivery. The company is not old in the provision of staffing services. Therefore, it can take a considerable period for the company to break successfully into the market. Additionally, variations in the job market such as reduction in hiring members demonstrate a potential weakness for the company. Customer loyalty and branding is essential for the company. The business experience is subtle to the management and running of the company.

Opportunities

It is beyond reasonable doubt that the opportunities in the staffing company in which training and recruitment is a major component of its operations. Cornerstone Staffing Agency is prepared to take advantage of any opportunity that comes its way. The current law requires the employers to provide the employees with insurance covers which are a fundamental opportunity for the company. The opportunity for the company lies within its capacity to place the majority of the people in open positions.

Threats

It is imperative to know that any business faces a challenge or threat at any component of the business life cycle. Notably, the threats can either be external or internal. The majority of the challenges and threats can be anticipated, and therefore, plans should be put in place to establish the effect it might bring to the business. The unfavorable government strategies, new entrants in the market with the location of the company, and the universal economic downturn normally affect the purchasing and spending power of the company.

In conclusion, SWOT analysis refers to the critical examination of organization internal and external factors. Staffing agencies are organizations that recruit staff to fill the positions in a company. Cornerstone Staffing Agency is a company that provides professional staffing and training services to its clients. The company strength lies within its teamwork. Breaking into the market is a major weakness that befalls the company. The current law needs a company to offer insurance to the employees which are a fundamental opportunity. The unfavorable government rules and new entrants into the market are the potential threat to the company.

References

Eichhorst, W. & Braga, M. (2013). The Role and Activities of Employment Agencies. Retrieved from http://www.iza.org/en/webcontent/publications/reports/report_pdfs/iza_report_57.pdf

Gretzky, W. (2010). Strategic Planning and SWOT analysis. Retrieved from http://www.ache.org/pdf/secure/gifts/Harrison_Chapter5.pdf