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The SWOT analysis is often used to help managers understand the competitive advantage of their organization. It can also help them to make decisions to support the organization’s mission and vision in an ethical manner and help with strategic planning.
Watch the video: Putting Your SWOT to Use which will provide you with what you need to know about SWOT and making it work for your organization’s strategic planning.
Review the abbreviated version of the Starbucks 2020 SWOT Analysis.
Considering the video and the Starbucks 2020 SWOT Analysis, answer the following questions:
Opportunities are to be prioritized in your strategic plan. How would you recommend that Starbucks prioritize Ready to Drink (RTD) coffee products in the U.S.?
Weaknesses are important and need to be acted on quickly. What would be your first step to act on Starbucks expanding outside the U.S.? Why do you think this would work?
Threats need to be watched and monitored. Explain how you would plan to monitor weather disasters that could drive up the price of coffee beans?
An external analysis of a company is another indicator for making strategic decisions. External factors are the general environment of an industry that strategic leaders most likely will not be able to influence. There are six external factors for a PESTEL analysis that influence all firms in a given industry. The PESTEL model groups these segments as: political, economic, sociocultural, technological, ecological and legal.
Review the following article:
Scanning the Environment: PESTEL Analysis
Explore the six PESTEL external factors: political, economic, sociocultural, technological, ecological, and legal.
Choose one industry (automotive, hospitality, manufacturing, high tech, etc.) and discuss the following with your peers:
Examine one of the six PESTEL factors in relation to your chosen industry. In your opinion, why do you believe this PESTEL factor is the most important to your chosen industry?
Describe one advantage and disadvantage of the PESTEL analysis for strategic planning.
If you were a manager in a global organization, how would you use the technological factor of innovation to gain a competitive advantage
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