CAREER CONNECTION: Final Strategic Plan

Economic Condition

Economic conditions can be a threat to a business due to the regular changes that occur such as the increase in interest rates of goods and services. This makes customers reduce their purchasing power of goods and services available in the market. This affects the manufacturing organization for they will produce the products in small amounts to avoid loss. Unemployment

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Technology

Technology may become a weakness to the organization if they are not aware of the up to date technology to remain competitive in the market and deliver quality and unique product to the customers. Organizations that lag behind in technology are at risk of losing their shares in the market

Environmental

This involves the surrounding such as climatic changes which may include floods, drought and global warming. Global warming is a phenomenon where harmful products affect the ozone layer. This can be may be a weakness in the business that highly relay on agricultural products. Their production of goods and services may decrease and this affects their income.

Social

This involves the change in lifestyle. Organizations should be up-to-date with various lifestyles in the market so that to meet customer’s needs and wants.

For example for the product that is on fashion is jeans trousers, the organizations should increase their productivity since they an opportunity for improving their productivity. This improves the organization operation in the market, more so increase their operating profits.

Innovation

This bring creative and coming up with new ideas that enhance the productivity of an organization. This opportunity to the organization since they can be able to improve their operations by adopting advanced technique in their production thus being competitive in the market. This led to the production of a unique product that will be attractive to the customers and this will lead to increase in the level of production.

Competitive analysis

This stands out to be a threat to the organization since they should be aware and keen of the new entrant in the market. Competitors always try to be smart in the market for they lower the prices of their products as compared to others and also try to rebrand the existing products in the market so that they may attract the customers. Therefore, organizations should always be alert to identify such competitors.

Strategy

This refers to patterns of action over a period of time. Organization bases their ideas and decisions on various strategies so as to archive the set objectives and goals. This becomes the strength of the organization for they are able to remain competitive in the market and improve their productivity.

Structure

This refers the hierarchy of people who are in the management of the workforce in an organization. They may either improve or slow down the organization performance. For example where there are several levels of management in a firm, the decision making on certain issues may be slow. This becomes a weakness in the firm for it will affect the effective performance and operations.

Processes and systems

This refers to the systems that are used to run the organization performance. Each firm follows a certain system as they carry out their activities such the procedure used to pay employees in an organization.

Resources

These are the materials used by the organization to run certain operations. There stands out to be strength of the organization since they are able to produce more goods and services to meet the customer’s needs and want

Goals,

These are the aims and achievement that the organization would wish to meet thus enhancing better performance of the operations. This is an opportunity drive within the organization

Strategic capabilities

They refer to patterns adopted by the organization to run their operations. These strategies enhance strength within the daily running of the day to day activities.

Culture

This refers to certain behavior adopted by various group of people. This can become a weakness in the organization if they are not aware of cultural practices that are adopted by various groups of people.

Technologies

This refers to innovative and creative ideas that are adopted to enhance the organizational performance. With technology the organization is able to produce quality and unique product this making them competitive in the market and increasing the purchasing power of customers. The organization operations are able to run efficiently.

Innovation

They are creative ideas that an organization can come up with in order to remain competitive in the market. This drive acts like strength to the organization. The firm is able to enhance efficient and effective performance.

Intellectual property

The intellectual property is important to both the government and the employees within the organization. This creates an opportunity to the firms operations.

Leadership

Good leadership helps in ensuring good management of the organization. Good management enables all the workers within the firm are treated equally and fairing without discrimination. This enhances to productivity among workers.