Erica K. Warren
Intro to Business
Module 03 Application Assignments – SWOT Analysis
Instructor: Jeremy Couch
After performing a SWOT Analysis, upper management has determined that our company has a variety of strengths, weaknesses, opportunities and threats. I will describe strategies that will take advantage of the company’s strength’s and opportunities. I will also describe strategies that will help the company reduce weaknesses and threats.
One of the company’s strength’s is that over half the residents in our market territory are affluent. With that being said we need to take full advantage of this strength. We also have the opportunity to implement a program to include stuffers (showing our full range of products and services) in every mailing to our existing customers. With strategic planning we can implement that program not only to our existing customers but to all target residents in our market territory. This will give our target residents an in-depth look into our full range of products and services, helping them make an educated decision. With proper planning we can also tailor our products and services to appeal more to the affluent residents in our market territory.
During the SWOT Analysis it was also determined that one of our weaknesses is that the independent contractors we use are difficult to control from a reliability and quality standpoint. From a staffing perspective it would be best to hire employees as opposed to independent contractors. Employees will have to be reliable because their jobs depend on it where as independent contractors have a job until the contract is up. Employees will also be given a quality metric to be met. If we give the employees an incentive for producing quality, they will be more inclined to do better and remain constant. This incentive will also eliminate the current threat we face with the new competitor luring away our employees and offering better pay. Implementing a pay for...
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