1

Strategic Plan, Part II: SWOTT Analysis

BUS/475 Integrated Business T!ics
"e#ruary $1, $%1%
&r' (aura Pgue
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)ealt*y Place is a t*era!y stre +cused u!n rela,atin as an aid in *ealt*y li-ing'
)ealt*y Place !r-ides a -ariety + !rducts, tls, and tec*ni.ues +r cust/ers t !ractice at
*/e rela,atin t*era!y' T*ese !rducts include #dy and cs/etic ser-ices, ar/a t*era!y
!rducts, re+le,lgy, !er+u/es, and candles' T*e ac*ie-e/ent + a *ealt*y #alance + /ind,
s!irit, and #dy is )ealt*y Place0s +cus' )erein, an SWOTT analysis 1ill #e cnducted and
e,!lained, internal/e,ternal analysis + )ealt*y Place in relatin t +rces and trends 1*ic* are2
3cn/ic, (egal/4egulatry, Tec*nlgical, Inn-atin, Strategy, Structure, 4esurces, and
5ulture'
SWOTT Analysis
In rder t cnduct an SWOTT, )ealt*y Place needs t ans1er .uestins ade.uately
a#ut t*e c/!any0s strengt*s2 1*at are t*e ad-antages, resurces, strengt*s in t*e /ar6et, and
1*at des t*e c/!any d #etter t*an t*e c/!etitin' T*e c/!any needs t assess 1*at
+actrs 1ill cntri#ute t a lss in sales and re-enue' Once again, t*is needs t #e cnsidered
+r/ an internal and e,ternal !ers!ecti-e !aying clse attentin t 1*at t*e cust/er0s +eelings
are'
Once )ealt*y Place *as esta#lis*ed t*e strengt*s and 1ea6nesses, t*e c/!any t*en
needs t +igure ut 1*ere t*e !!rtunities +r t*e +uture + t*e c/!any are' W*en assessing t*e
!!rtunities t*e c/!any needs t as6 t*e +ll1ing .uestins2 1*at are t*e trend !urc*asing
!atterns + t*e cust/ers, 1*at !!rtunities des t*e c/!any see +acing t*e/ in t*e +uture,
and 1*at are t*e c*anges in tec*nlgy and t*e /ar6ets' Additinal areas +r )ealt*y Place t
l6 +r !!rtunities are t assess t*e strengt*s and see 1*ic* nes t*at can lead t a ne1
!!rtunity' Ant*er 1ay +r t*e c/!any t +ind !!rtunities is t l6 at t*e 1ea6nesses and
assess 1*ic* !!rtunities can #e created +r/ eli/inating 1ea6nesses'
7
T*e +inal ste! in cnducting and carrying ut a SWOTT Analysis is t l6 at t*e t*reats
+acing t*e c/!any' T*reats can #e +und #y +inding 1*at #stacles t*e c/!any is +acing n1
and 1ill +ace in t*e +uture, c/!etitin !rduct and ser-ices, c*anges in tec*nlgy t*at /ay
t*reaten t*e !sitin + t*e c/!any in t*e !resent /ar6et, +inancial standing r !r#le/s and i+
any + t*e 1ea6nesses t*at *a-e already #een de+ined *a-e an e++ect n t*e c/!any' S/eti/es
c/!anies can +ind t*at a 1ea6ness t*at t*ey -erl6ed can cri!!le t*eir c/!any #ut it culd
*a-e #een a-ided i+ a !r!er SWOTT Analysis 1uld *a-e #een cnducted'
3cn/ic
)ealt*y Place ecn/ic en-irn/ent 1ill include in+r/atin +r/ all related inc/es
le-els and t*e !rducts, tls, tec*ni.ues and ser-ices #eing ++ered' )ealt*y Place 1ill #e an
a++rda#le !lace t*at all /e/#ers + sciety can #ene+it +r/' T*e stre s*all #e stc6ed +ull +
/erc*andise t*at 1ill a!!eal t e-ery cultures and races tastes and !re+erences' T*e stre 1ill
cnstantly /a6e an e++rt t ada!t t*e !rducts and ser-ices #eing ++ered in an atte/!t t
acc//date t*e lcal cultures in t*e c//unity' )ealt*y Place 1ill *a-e an !!rtunity t
de-el! and !r-ide cust/ers 1it* ne1 !rduct lines and tec*ni.ues t*at 1ill assist t*e/ in
ac*ie-ing at */e rela,atin'
T*e stre 1ill +ace an assrt/ent + ecn/ical 1ea6nesses and t*reats t*at 1ill *a-e t
#e cntinuusly /nitred s t*at t*ey 1ill nt a++ect t*e success+ulness + t*e stre' One
1ea6ness t*at )ealt*y Place 1ill *a-e t deal 1it* n a daily #asis is t*e s*a!e + t*e !resent
ecn/y' Wit* t*e ecn/y #eing in a slu/! t*e stre 1ill *a-e t +ind ne1 1ays + *el!ing
cust/ers t +ind t*e #est -alue +r t*eir dllar' A t*reat t*at t*e stre 1ill *a-e t +ace is t*e +act
t*at s/e cust/ers 1ill #e n suc* a tig*t #udget t*at t*e cust/er 1ill nly c/e int t*e
stre +r t*e +ree 1r6s*!s' Once t*e 1r6s*! is -er t*e cust/er des nt /a6e a !urc*ase'
4
An ecn/ic trend 1uld #e t ada!t t*e stre t /eet t*e gr1ing de/ands +
alternati-e *ealing !rducts and ser-ices' Wit* t*e ecn/ical slu/! #eing 1*at it is rig*t n1
cust/ers are l6ing +r alternati-e 1ays t e,!erience rela,atin 1*ere t*ey d nt *a-e t
s!end *undreds + dllars at t*e s!a' Wit* alternati-e /edicine usage #eing n t*e rise t*e stre
1ill *a-e t e/#race t*e needed trend c*anges 1*ic* 1ill create a sense + lyalty' By creating
t*is sense + lyalty 1it* t*e cust/ers )ealt*y Place 1ill als #e increasing sales and /a6ing a
#etter re!utatin +r t*e stre'
(egal/4egulatry
It 1ill #e i/!rtant +r )ealt*y Place t lcate 1*at t*e legal structure + t*e c/!any'
&e!ending u!n t*e ty!e + #usiness structure #eing used #y )ealt*y Place, it 1ill in+luence t*e
!urc*asing strategy and !rice + t*e !rducts and ser-ices #eing ++ered' )ealt*y Place 1ill #e a
Sle Pr!rietrs*i! 1*ere t*e assets are #eing *eld #y t*e 1ner and t*e nly sta6e*lder is t*e
#an6 r lender' T*e stres #iggest strengt* is t*at t*e stre 1ill nt #e re.uired t #tain s!ecial
licenses'
)ealt*y Place 1ill nt sell, alc*l, lttery tic6ets, gasline r +irear/s, t*ere+re, a
s!ecial license 1ill nt #e necessary' )1e-er, )ealt*y Place 1ill #e re.uires t #tain a *ealt*
ins!ectin certi+icate and a state #usiness license t*at 1ill all1 t*e stre t cnduct 1r6s*!s'
A sales ta, license 1ill #e necessary in rder +r t*e stre t sell /erc*andise and )ealt*y Place
1ill *a-e t register and #tain an e/!lyer identi+icatin nu/#er +r/ t*e state &e!art/ent +
4e-enue r Treasury &e!art/ent' Ant*er strengt* t*at )ealt*y Place *a-e is t*e a#ility t
!urc*ase insurance +r t*e stre, its e/!lyees, and cust/ers' By insuring all t*ree t*e stre is
/a6ing sure t*at t*ey are !rtecting t*e initial in-est/ent and i+ a cust/er gets *urt 1*ile in t*e
#uilding r 1*ile using t*e !rducts' By /a6ing sure t*at t*e c/!any *as ade.uate insurance
5
t*e c/!any is sa+e guarding itsel+ against #eing sued #y cust/ers and lsing t*e initial
in-est/ent'
)ealt*y Place 1ill *a-e t*e !!rtunity t lease t*e #uilding 1it* an !tin t #uy in
later years i+ t*e stre is +inancially sta#le' Wit* t*is ty!e + !!rtunity c/e certain
1ea6nesses and t*reats' One 1ea6ness +r t*e c/!any 1ill #e t*at it /ay nt #e a#le t #e
c-ered under certain insurances due t leasing t*e #uilding' By nt *a-ing t*e #uilding 1%%8
insured t*e c/!any t*en runs t*e ris6 + nt !rtecting t*e initial in-est/ent' Ant*er t*reat
t*at t*e c/!any 1ill *a-e t +ace is nt #eing a#le t /eet all t*e legal and regulatry
re.uire/ents'
Tec*nlgical
Tec*nlgy *as *ad a tre/endus i/!act n /ar6eting decisins' )ealt*y Place
tec*nlgical strengt*s 1ill #e a stre 1*ere cust/ers *a-e t*e a#ility t !urc*ase !rduces and
ta6e !art in 1r6s*!s t*at 1ill teac* t*e/ ne1 tls and tec*ni.ues' T*e stre 1ill als e/!ly
students 1* are /a9ring in *ealt*care and rela,atin t*era!y s t*at t*e stre *as a cnstant
understanding + ne1 tec*ni.ues' A 1ea6ness t*at t*e c/!any 1ill +ace is a li/itatin +
+unding n start u! s t*e c/!any /ay *a-e t l6 int renting e.ui!/ent suc* as c/!uters
and /assage ta#les' T*e c/!any0s t*reat 1uld #e t*e c/!etitin and *1 t*ey are using
tec*nlgical ad-ance/ents t ++er #etter ser-ices and !rducts'
Inn-atin
W*en it c/es t inn-atin )ealt*y Place strengt*s and !!rtunities 1ill *a-e t #e
centered n t*e cust/er di-ersity t*at 1ill re.uire t*e c/!any t ++er a -ariety + !rducts
t*at 1ill a!!eal t e-eryne +r/ di++erent et*nicities' By e,!anding !eratins in t*e +uture t
all1ing cust/ers and lcal c/!anies t ta6e !art in 1r6s*!s t*at 1ill teac* !e!le *1 t
:
alle-iate and c!e 1it* stress and learn ne1 rela,atin t*era!y tec*ni.ues t*e c/!any 1ill
/a6e a na/e +r itsel+ 1it* t*e c//unity' One 1ea6ness t*at )ealt*y Place 1ill +ace is t*e
c*allenge + !r!erly /ar6eting t*e !rducts and ser-ices a-aila#le t t*e !u#lic' T*e c/!any
1ill als #e t*reaten #y t*e c/!etitin i+ t*e c/!any is nt uni.ue and ++er .uality ser-ice
t*at 1ill /eet and e,ceed all + t*e cust/er0s e,!ectatins'
Strategy
)ealt*y Place /ust design a strategy t*at 1ill gi-e t*e c/!any t*e !!rtunity t gr1,
e,!and, and ++er !rducts and ser-ices t*at t*e c/!etitin is nt a#le t' Ant*er !!rtunity
and strengt* t*at )ealt*y Place !ssesses is t*e a#ility t c*se t*e !er+ect lcatin +r t*e stre
1*ere is 1ill #e easily accessi#le #y t*e !u#lic' T*e stre 1ill #e strategically !lace in t*e
d1nt1n s.uare 1*ere it can easily #e accessed #y all c/!anies in t*e d1nt1n area and a
lcal cllege' T*e ecn/y 1ill #e t*e #iggest 1ea6ness and t*reat +r )ealt*y Place t
-erc/e' 3-eryne is +eeling t*e !ressure +r/ t*e ecn/y slu/! and /any indi-idual d nt
*a-e an a#undance + +unds t !urc*ase !rducts' T*is is 1*ere #usiness 1ill *el! t alle-iate
t*e !ressure'
Structure
)ealt*y Place #iggest structural strengt* is t*e a#ility t use an e,isting #uilding rat*er
t*an #uild a ne1 ne and t*e #uilding is lcated in t*e /iddles + d1nt1n 1*ere /any can
access t*e stre' T*e stre 1ill ++er all t*e necessary tls and tec*ni.ues t d at */e
rela,atin t*era!y and ++er in stre /assages and 1r6s*!s' W*ile t*e stres #iggest strengt*
is using an e,isting #uilding, it can #ig ne + its #iggest 1ea6nesses as 1ell' T*e reasn 1*y is
t*at t*e #usiness /ay nt #e a#le t +ully utili;e t*e s!ace r t*e #uilding /ay nt #e #ig enug*
7
in t*e +uture' Als 1it* using a #uilding t*at is nt yur 1n, a c/!any cannt /a6e any
c*anges t*at t*e landlrd des nt all1'
An !!rtunity t*at t*e c/!any *as is t !urc*ase a ne1 #uilding t*at 1ill #e a#le t
suit all + t*e c/!anies needs' T*e c/!any /ay #e a#le t e,!and int additinal #uildings
t*at 1ill gi-e t*e c/!any t*e added r/ t*at is needed' Since )ealt*y Place des nt 1n t*e
#uilding t*at t*e stre is lcated in t*is can cause a serius t*reat i+ t*ere is a natural disaster' "r
instance i+ t*e d1nt1n area gets +lded a+ter a series + *ea-y rains r i+ t*ere is a trnad
t*at causes serius da/age t t*e stre' T*e stre des nt *a-e t*e a#ility t *a-e cntrl -er
t*e ti/e+ra/e +r re#uilding r /a6ing re!airs' Wit*ut 6n1ing t*e ti/e it 1ill ta6e +r re!air
4esurces
)ealt*y Place 1ill *a-e t*e strengt* t +ully use all + t*e c/!any0s resurces' S/e +
t*se resurces are t*e e.ui!/ent, e/!lyee0s 1r6ing 6n1ledge + rela,atin, !rducts, and
an undisclsed a#undance + +unding a-aila#le +r/ t*e #an6' W*ile ne + t*e c/!any0s
greatest strengt*s is its e/!lyees it can als #e ne + its #iggest 1ea6nesses' <a6ing sure t*at
t*e sta++ is !r!erly trained in !r-iding !r!er rela,atin t*era!y tec*ni.ues can #e a *uge
c*allenge due t t*e +act t*at /st e/!lyees 1ill #e students t*at 1r6 !art ti/e' W*en dealing
1it* t*e c/!any0s resurces t*e #iggest !!rtunity is t +ind #etter su!!liers t*at 1ill *el! in
!r-iding di++erent ite/s in t*e alternati-e *ealing industry' T*e nly t*reat t*at t*e aut*r can
see +r t*e c/!any is t*at t*e cust/ers #uying *a#its /ay c*ange 1*ere t*e cust/er l6s
+r a di++erent 1ay t use alternati-e *ealing t*era!y'
5ulture
One + )ealt*y Place #iggest strengt* is t*e a#ility t a!!eal t a -ast di-ersity +
cultures t*at 1ill incr!rate all t*e di++erent cultural e,!eriences' T*e c/!any 1ill !ride itsel+
=
n #eing a stre t*at incr!rates *nesty and integrity int t*e stre 1*ile /aintaining a
cnstant accunta#ility +r t*e stres actins' T*e stre als *as t*e a#ility t cntri#ute t t*e
c//unity and t*e en-irn/ent' T*is can #e dne #y /ini/i;ing t*e negati-e i/!act n t*e
en-irn/ent' One cultural 1ea6ness t*at )ealt*y Place 1ill *a-e t deal 1it* is t*e !r
ecn/ic gr1t* t*at 1ill li/it t*e c/!any0s +inances and nt *a-ing t*e a#ility t e/#race all
cultural di++erences and cust/s'
W*ile e/#racing di++erent cultural and cust/s can #e a 1ea6ness it can als #e an
!!rtunity +r t*e stre t de-el! a ne1 !rductin line t*at 1ill cater t t*ese !e!le' )ealt*y
Place 1ill *a-e t e/#race di++erent cultures and s!iritual cust/s #ut t*is actin can cause
s/e serius t*reats t t*e c/!any #ecause + ++ending t*e t*er !ersn' W*en dealing 1it*
ne1 !e!le and cultures t*e c/!any 1ill *a-e t deal 1it* t*e di++erences in /eanings and
actins' It can #e -ery easy t ++end s/ene accidentally 1it*ut saying anyt*ing t t*e/' T*e
++ense can c/e +r/ a certain *and gesture r #dy language' In rder t -erc/e t*is *urdle
t*e sta++ 1ill need additinal training'
>
3,ternal +rces and trends cnsideratins:
Strengt* Wea6ness O!!rtunity T*reat Trends
(egal/4egulatry ? s!ecial
licensing
re.uired
4ental
insurance +r
t*e #uilding
Purc*asing t*e
rental #uilding
s!nsring
c//unity
!rgra/s @ e-ents
Sued #y cust/ers
i+ !rducts cause
serius !r#le/s
<ig*t *a-e a *ard
ti/e /eeting
regulatins
Al#al 4e!utatin Aegra!*ical
5-erage
Al#al <ar6ets Al#al <ar6ets Online Businesses
3cn/ic A++rda#le
Assrted
In-entry
Ada!ta#ility
5ust/ers 1ill
#e n a tig*t
#udget
T de-el! ne1
!rduct lines
Slu/! in ecn/y
/eans cust/ers
d nt *a-e an
a#undance +
dis!sa#le inc/e
Tec*nlgical a#ility t
e/!ly students
t*at are learning
ne1 tec*ni.ues
1r6s*!s
s*1ing
cust/ers ne1
tec*ni.ues @
tls
?t *a-ing
ade.uate start
u! t !urc*ase
re.uired
e.ui!/ent, /ay
need t rent
t*e/
Is t e/#race ne1
tec*nlgy @
incr!rate it int
t*e #usiness
?t #eing a#le t
#eat c/!etitrs
1* are ++ering
/re ad-anced
tls @ 1r6s*!s
t t*eir cust/ers
Inn-atin 5ust/er
di-ersity
assrt/ent +
!rducts t
/eet all t*e
cust/ers0
needs
A#ility t
ad-ertise
!rducts @
ser-ices
!r!erly
3,!and int gi-ing
/assages, @
++ering ne1
1r6s*!s t*at
s*1case ne1
!rducts @
tec*ni.ues
<ust ensure t*at
stre is uni.ue @
++er .uality
ser-ice
Scial
3n-irn/ental
5/!etiti-e Analysis
Internal +rces and trends cnsideratins:
1%
Strengt* Wea6ness O!!rtunity T*reat Trends
Strategy Stre lcate
#eing c*sen
!r!erly
?eeds t #e
easily
accessi#le
A#ility t
!r-ide
e-eryne 1it*
t*e !rducts
t*ey need
!r-ide .uality
!rducts at l1
csts
Ar1t* @
e,!ansin t ++er
/re t*an t*e
c/!etitin
5/!etitrs li6e
s!as !r-iding t*e
sa/e at */e
re/edies t*at gi-e
t*e cust/er /re
+r t*eir /ney
Structures
Prcess and Syste/s
4esurces !rducts @
ser-ices are
cutting edge
Will need t
train all
e/!lyees t
!r!erly use
tec*ni.ues @
tls
T +ind #etter
.uality !rducts,
su!!liers @
additinal !rducts
@ ser-ices
c*anges in t*e
cust/ers #uying
*a#its a1ay +r/
alternati-e *ealing
+r rela,atin
Aals
Strategic 5a!a#ilities
5ulture A#ility t
a!!eal t all
cultures
-alueBriented
culture
Pr ecn/y
(i/ited
+inances
3,!and !rduct line
1it* di++erent
tec*ni.ues @ tls
A#ility t e,!and
culture
?t #eing a#le t
/eet t*e di++erent
culture
Tec*nlgies
Inn-atins
Intellectual Pr!erty
(eaders*i!
WRITTEN ASSIGNMENT FEEDBACK


11
Student/Group Name(s)
Course BUS475
Date 3/1/10
Assignment Strategic Plan, Part II
Content/Development

Subject Matter:
Key elements of assignments covered
Content is
comprehensive/accurate/persuasive
Displays an understanding of relevant
theory
Major points supported by specific
details/examples
Research is adequate/timely
Writer has gone beyond textbook for
resources

2.6/3






Higher-Order Thinking:
Writer compares/contrasts/integrates
theory/subject matter with work
environment/experience
At an appropriate level, the writer
analyzes and synthesizes
theory/practice to develop new ideas
and ways of conceptualizing and
performing


2/2





Organization

The introduction provides a sufficient
background on the topic and previews
major points
Central theme/purpose is
immediately clear
Structure is clear, logical, and easy to
follow
Subsequent sections develop/support
the central theme
Conclusion/recommendations follow
logically from the body of the paper


1.9/2






Style/Mechanics

Format--10%
Citations/reference page
follow guidelines
Properly cites ideas/info from
other sources
Paper is laid out effectively--
uses, heading and other reader-
friendly tools
Paper is neat/shows attention
to detail
Grammar/Punctuation/Spelling--
10%
Rules of grammar, usage,
punctuation are followed


.5/1







1/1



1$
Spelling is correct

Readability/Style--10%
Sentences are complete, clear,
and concise
Sentences are well-constructed
with consistently strong, varied
structure
Transitions between
sentences/paragraphs/sections
help maintain the flow of
thought
Words used are precise and
unambiguous
The tone is appropriate to the
audience, content, and
assignment

1/1

Comments / Grade
9/10 - Good work on your analysis, You did very well overall. I would like to see a bit
more focus on a clear, concise conclusion. Please also be sure tat your runnin! ead
and follows "P" formattin!. #astly, $lease remember to include references. %ee$ u$
te effort. &nward, 'r. Po!ue