...Strategy development by using SWOT - AHP Dijana Oreski1 1 Faculty of Organization and Informatics, University of Zagreb, Pavlinska 2, Varazdin, Croatia Abstract –This paper employs combination of SWOT analysis and Analytic Hierarchy Process (AHP) in strategic planning for tourism of small mid-european city Varazdin, which is located in the north west of Croatia. SWOT analysis identifies internal and external factors which are prioritized by expert in tourism domain by means of AHP. The prioritized SWOT factors are used in strategies formulation using TOWS matrix. Results indicate that proactive communication strategy and isolation strategy with effective marketing promotional strategy were the best strategies that could have been implemented. Keywords – SWOT, AHP, strategy formulation. cases in the strategic management process. One of them is the SWOT analysis. This article explains the SWOT analysis, provides the theoretical background and an overview of the application of the SWOT analysis. As some authors have identified weaknesses of the SWOT, analysis is combined with a method for multi-criteria decision analytic hierarchy process (AHP) in order to avoid these disadvantages. Therefore, in the second part of the paper AHP method and SWOT AHP hybrid method are described. Following the basic steps method, SWOT AHP is applied to the example of the city of Varazdin strategic marketing plan definition. 2. SWOT analysis SWOT is an acronym of strength, weakness, opportunities...
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...The Importance of Strategic Planning in Banking Performance: An Analyzing Examination Jia Li Abstract This paper explains the definition of Strategic Planning and how it is important in banking performance. As the comparison between Strategic Planning and Operational Planning, we get a general idea that Strategic Planning need to be considered and configured first when it comes to business planning. This paper also conducted a SWOT analysis to identify internal and external factors to eliminate risk of failure for a company. Introduction With the continuous development of the world economy and the trend in economic globalization, strategic planning has been attached into great importance and applied into various fields. Studies explain how strategic planning is related to financial performance, and Hopkins used LISREL analysis explained how people have never realized the gap between SP and Banking Performance (Hopkins pp.635-652). In this paper we will be analyzing the importance of having strategic planning in banking performance by SWOT analysis. Study Foundations First of all, what is Strategic Planning (SP)? SP is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources pursue this strategy. There are four key components in SP, which are Vision – what do we want to do, Mission – what might we do, Value – for whom do we do it, and Strategy – what should we do (Wiki). Vision outlines what the...
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...A SWOT Analysis view of the software development industry Georgios Kormaris Department of Information and Computing Sciences, Utrecht University, Utrecht, The Netherlands gkormari@cs.uu.nl WWW home page: http://www.cs.uu.nl/ Introduction I n the past twenty to thirty years many changes and developments have taken place in the software industry which started off during the 1960s mainly in the United States of America and experienced a revolutionary boom since the 1980s, Steinmueller, (1995). There are many different ways and methods of developing software and planning the strategy of a software development company, as we can derive from many recent research projects. Most of these projects are usually concerned with the way that software is developed and not with the way that the strategy of the company as a whole is planned, Cusumano, MacCormack, Kemerer, & Crandall, (2003). Another important factor is which techniques and methods are used to analyze company’s environment and how the strategy is formulated and implemented. In this paper we analyze a popular method for strategic planning which has been mostly used for product portfolio planning and strategic planning on an abstract level, as stated in a research paper by Houben, Lenie, & Vanhoof, (1999). We will focus our interest in the software industry and base our research on the case study of the Austrian software industry as it is presented by Bernroider, (2002). Additionally, certain guidelines are...
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...Assignment: Analysis for Effective Planning Step 1: What Is Your Strategy Strength? Reference “What is Your Strategy Strength?” on page 237 in Chapter 8. Managers practice differing strengths and capabilities when it comes to formulating and implementing planning strategy. Respond to each item as it best describes how you respond to work situations. There is no right or wrong answer. Interpreting your score will help identify your strengths and capabilities. This activity provides a valuable insight into your managerial skills and is a great way to prepare and begin Unit 3. You will apply this information as you write your paper. Step 2: Click to use the SWOT Analysis Diagram Template Use this diagram template as a visual representation of your planning strategy. Complete Steps 1–7, and insert relevant information into each component of the SWOT diagram. Please focus your attention on this activity. Some of the most valuable planning ideas can emerge when this type of diagram is used in collaboration and communication with other team members. Step 3: Write and submit your Assignment paper As you write your paper, integrate both the “What is Your Strategy Strength?” and your completed SWOT Analysis. How do you see your strategic strengths expressed in your SWOT? How can you compensate for your strategic weaknesses in your SWOT? Construct your paper with subheadings that connect to the key components of the grading rubric. Title your paper- “Applying SWOT Analysis for Effective...
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...and tourism, which is the central source of globalization, which is taking place in many industries (The Airline Industry, 2011). This paper will describe and explain the strategic planning process from beginning to end, the competitiveness in the domestic and global market, and the effects of quality management. Strategic Planning Process and SWOT Analysis In any organization, there has to be a strategic planning process. A strategic plan is the process whereby an organization develops a vision, mission, guiding principles, broad objectives, and specific strategies for achieving the broad objectives (Goetsch and Davis, 2010). Before an organization begins the planning process, they must first conduct a SWOT analysis. The SWOT analysis answers questions that deal with the organization strengths, weaknesses, opportunities, and threats (Goetsch and Davis, 2010). The strategic planning process as indicated in figure 3-1 in the textbook Quality Management for Organizational Excellence is as follows: • Step 1: SWOT Analysis (Environment Assessment) • Step 2: Develop the Vision • Step 3: Develop the Mission • Step 4: Develop the Guiding Principles • Step 5: Develop the Broad Strategic Objectives • Step 6: Develop the Specific Tactics (Action Plan) The SWOT analysis provides a body of knowledge that is needed...
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...Business Proposal Organizational Planning Sheldon Martinez MGT/521 March 15, 2014 Anthony De veto Organizational Planning Netflix has become a very popular Internet-based choice for consumers who watch movies and television shows. Since the company started more than fifteen years ago, it identified and capitalized on the way television consumers prefer to watch movies and television. Netflix recognized that preference was quite simple, which is to watch television programs and movies without interruption from advertisements that you cannot escape when watching regular television. Since 1998, Netflix has set goals, implemented plans and strategies to become the leader of television network on the Internet and to maintain that industry position. This paper will examine the company’s strengths, weakness, opportunities, and threats analysis (SWOT) as well as recommend a strategic and operational plan to ensure Netflix remain the leader in Internet television networking. SWOT ANALYSIS A SWOT, which is strengths, weaknesses, opportunities, and threats analysis is a snapshot assessment of the current state of the company. It can highlight what the company does well or better than others as well as present the things the organization does poorly and areas in which improvements are necessary. Such analysis can also determine the various opportunities that a company can capitalize on. Just as important as the previous reasons, the analysis can provide information regarding...
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...Strategic Management and Planning Paper Marcy Blind Univ of Phoenix BUS 475 Brandan Krieger February 10, 2014 Strategic Management Paper Strategic management is collection of activities and processes that companies use to strategically coordinate resources and activities with the vision and mission statement throughout the organization. The purpose of this management plan is to put a plan into action and then have valuable feedback so the plan can be reevaluated as the external and internal dynamics evolve. At its core this is just the concept of having some feedback controls to evolve the plan to changing variables. This helps organizations to meet with the challenges with better focus and strategy. Purpose of strategic plan Strategic plan is a tool to manage the organization in more streamlined and optimal way. It helps in promoting the vision and goals of the organization throughout the organization. This avoids sub-optimization in the organization and helps the different branches to have better focus and coordination in between them. This also incorporates the organization strengths and weaknesses and then this data is used to formulate the best possible outcome for the organization. The plan also sets the goals the organization needs to achieve and how they will be achieved. This also includes the parameter against which the performance of organization will be measured and the time frame in which evaluation should be done. Components of strategic...
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...S.W.O.T Analysis in Project Management Md. Mashreki Islam Sami Bachelor of Science in Civil Engineering International University of Business Agriculture and Technology Dhaka, Bangladesh Abstract The main objective of this paper is to give an extensive knowledge on SWOT Analysis. In this paper SWOT analysis is discussed in the case of project management. SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats. Such analysis can be a part in a project or in a business venture. A SWOT analysis can be carried out for a product, place or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford Research Institute now called SRI International, in the 1960s and 1970s using data from Fortune 500 companies. Performing SWOT analysis allows setting achievable goals or objectives for the organization. SWOT analysis is important for organizations to plan future steps that are to be taken for development or to compete with other companies. Through SWOT analysis, a company or organization come across advantages, disadvantages, possibilities, capabilities and problems that they may face in a project takes visual. In this paper different sectors are considered where SWOT analysis is done successfully. Some other techniques of analysis such as Benchmarking, PESTLE...
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...Organizational Planning paper Salima Freeman MGT/521 Management AGMBA0613A June 23, 2013 Marvin Jones Kellogg’s has been in business for a decade and has strived to keep customers and consumers satisfied with their product. Since time has changed dramatically, competition is on the rise and Kellogg needed to implement some strategic and operational planning to meet the demands of customers to keep up with the other competitors and stay in business. Kellogg’s has some strict goals, yet they are very simple goals and are truly abiding by them. Just like any other company, Kellogg also has faced some major struggles in certain areas that affected the business as a whole. A SWOT analysis is beneficial to any company or business. This will definitely ensure that the company is achieving their goals and addressing any issues by following the SWOT analysis. The SWOT analysis is designed to help the company for the upcoming future. Organizational Planning paper Whenever creating a strategic and operational plan is no easy task for any company. There are certain guidelines and rules that should be followed. The whole purpose for the planning process is to encourage the organization to recap their directions and strategies. Figure out what are the potential risks that could harm the company. Certain questions like will changing our mission help to achieve our goals? Do our...
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...Strategic Management: Strategy is a long-term plan framed to gain a competitive advantage. Strategic management is a domain wherein strategies are transformed in to actions. It even comprises decisions made based on priorities, say, tasks to which time is devoted like resource allocation. These plans and decisions are aligned to goals of an organization. (Amason, A. 2010) Strategic management focuses on clients to know their expectations and serve them brilliantly. It involves action plans to reduce attrition and to retain the best talent. Its scope involves the functions and activities which make the organization innovative and pioneering. (Karami, A. 2007) Need for Strategic Management: Need for its strategic management arises to fulfill the priorities of an organization few of which include: o To accelerate its growth in this global business. o To augment the operational excellence of the organization. o To become globalized. It aims towards value creation to all shareholders at the same time even being centered towards society. (Amason, A. 2010) Executive Summary: Strategic Management involves formulation and implementation of strategies to improve the performance and to gain competitive advantage. It involves decisions and acts that managers undertake in order to attain the desired goals. Strategies are planned means to attain end results. Strategic management is long term in nature and gives a direction to the organization. Before...
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...Weaknesses, Opportunities, and Threats (SWOT) analysis. For the purpose of this paper, the 2010 Aaron’s Incorporated Form10K will be used to analyze and formulate twelve questions that will address the external and internal factors that comprise the analysis. These questions will be instrumental to the alignment of the talent management initiative with the organizational strategy. Current Talent Management Function Having a clear understanding of how a Human Resource (HR) transformation connects to the context of the business is paramount when designing strategies. Once the business leaders and HR professionals have established the needs measured against the business challenges they can design the strategies. Organizations must have the capability to deliver promises to customers. A key factor for this deliverable is talent. Companies must invest on securing candidates that are competent and committed. Ulrich et al (2009) stated that assuring competent employees comes as leaders buy (bring in new talent), build (develop existing talent), borrow (access thought leaders through alliances or partnerships), bounce (remove poor talent), and bind (keep the best talent). When it comes to managing talent, as in any other business disciplines, it is very important that there is a clear vision of what the goals are and how these relate to the business plan. Melanie Hughes, president of Org. 4 Changes, Inc. reminds us in her video, "Strategic Human Resource Management”, that in HR...
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...[pic] University of Information Technology & Sciences (UITS) A Term Paper On Recruitment and selection process of Qubee Submitted By: • Md.Al amin Hossain Id.10410512 • Md.Arif Miah Id.10410508 • Nur Mohammad Id.10410518 Submitted To: Instructor Name: Ethica Tanzeen Lecturer, School of Business, U I T S. Submission Date: 8th august 2011 Letter of Transmittal 8th august 29011 Ethica tanzeen Lecturer, School of Business. UNIVERSITY OF INFORMATION TECHNOLOGY AND SCIENCES Subject: Application for accepting term paper on Recruitment and Selection process of Qubee. Dear madam, We have the pleasure to submit here with the term paper titled “Recruitment selection process of qubee” as a requirement for our Principles of management.(MGT 141) Based on discussion and survey, we have incorporated the necessary materials to finalize that term paper. We are particularly grateful to Ethica tanzeen(lecturer, School of Business) for his co-operation in helping us to achieve our purpose. We also acknowledge our gratitude...
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...Strategic Management Process Paper Misty DeMoss MGMT 498 September 24, 2013 Dennis Hoerr Strategic Management Process Paper Strategic management is an essential process for managerial decision making. This process helps a company determine what planning and implementing actions that may determine a company’s long-term performance. The basic model for strategic planning consists of the four basic elements: Environmental scanning, strategy formulation, strategy implementation, and evaluation and control. By companies conducting internal and external scanning of the environment they are able to make better observations of what the company actually needs to implement. This paper will describe the primary components of a strategic management process, indicate why a strategic management process is needed, and describe the process Ford Motor company uses. Primary Components of Strategic Management Every company requires managers to plan accordingly for the yearly budget. This yearly budget is a time consuming stage and uses minimal analysis and small amounts of environmental information. Forecast based planning is used in this eight stage model process: (1) establishing the mission; (2) setting objectives; (3) environmental scanning; (4) identify internal SWOT; (5) formulating alternate strategies; (6) strategy selection; (7) strategy implementation; (8) controlling the strategy to ensure success. The current model of strategic management process includes...
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...Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is a business management tool used to evaluate an organization’s strength’s, weaknesses, opportunities, and threats. The tool is used to produce a model that can serve to provide direction in the development, formulation, and evaluation of project management plans. Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is an important step in the planing process that is often undervalued and omitted in constructing the project management plan. This basic management tool is straightforward and easy to use. Basically, factors are divided into internal and external issues. Based on the analysis of the information provided by the model, project management can better decide if the information gathered is something that will assist in accomplishing its objectives. Conversely, Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis can also identify potential obstacles to success, as well as faults in the plan that must be addressed, controlled, or eliminated if the desired results are to be achieved. In order for the Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis to be effective, project management must do more than simply identify the strengths, weaknesses, opportunities, and threats involved. Risk management demands that it is necessary to avoid, eliminate, or at the very least, minimize identified weaknesses and threats. Weaknesses should be closely scrutinized in order to determine...
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...company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Unit 1 Individual Project The following discusses the process of creating a mission statement for fictitious company ToolsCorp Corporation and writes the company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Launching a new business rests on a vision, or a set of beliefs, that the business can offer a product or service to consumers in a specific at a profitable price (David, 2013, p. 44). As a business grows, it is necessary for owners or managers to revise the company vision and mission. The original ideas are typically exhibited in the revised vision and mission. ToolCorp Corporation, located in Tennessee, produces power tools, lawn equipment such as mowers and furniture, as well as microwave and range appliances. This company has a booming business in the United States and Canada, but its current strategic initiative is to enter the global marketplace. Vision and mission statements A clear vision statement answers the question, “What do we want to become?” and lays the groundwork...
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