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External Environment Analysis of a business
External Environment Analysis
Name
Institution
External Environment Analysis
SWOT ANALYSIS
SWOT analysis, which entails strengths, weaknesses, opportunities, and threats, is specifically a framework aimed at the identification and analysis of the internal and external factors that can bring about the viability of a firm, project, or a product. SWOT analysis is very vital for a firm in the process of making decisions. According to Fine (2009), after the decision makers have identified the SWOT factors, they should be in a position to determine whether the goals and objectives of the firm can be achieved at the predetermined specific point in time. The analysis helps an organization match the competitive environment with its available resources. According to Peragine, (2008), a SWOT analysis is very vital to the decision makers since it offers them with useful perspectives in every stage of driving the organization. It helps in exploring the possibilities for solutions to problems and new efforts as well as making decisions on the best direction for any initiative. The process involves examining where change is possible and the opportunities for success in relation to the threats that may hinder the organization from achieving the intended success. Opportunities are meant to open wider avenues, while threats are likely to close the existing paths (Fullen, 2006)
In the analysis of the external environment of a business, there is need to narrow down on two aspects of SWOT analysis: opportunities and threats. These two concepts require the decision makers to carry out a wide external assessment. No organization, company, program, or group is immune to events and forces coming from the external environment (Casario, 2012). Decision makers should be for better or for worse consider their connectedness to the external environment in order to define their position in the market environment. There are factors and forces that are beyond the control of an organization. Such forces include: future trends, the economy (national, local, or international), demographics (changes in race, gender, age, and culture), physical environment, legislation, and national, local, or international events. Given the SWOTs, the decision makers should be able to tell whether the objectives they have at hand are attainable (Fridson, & Alvarez, 2011). In case the objectives are not attainable, they should be able to select other objectives. Other aspects of the external environment include technological changes, changes in legislation, microeconomic matters, and socio-cultural changes. There is also the change in competitive position and market situation.
Opportunities
These are the elements that a project or a company can use to its advantage. The best approach to look at the available opportunities is to consider the industry’s strengths and then examine whether such strengths can open up opportunities (Fine, 2009). The other way is to consider the weaknesses and then examine whether eliminating them can open up opportunities. Decision makers need to look for any good opportunity before them and any interesting trend they are aware of. Useful opportunities come from things like: changes in markets and technology on both narrow and broad scale, changes in governing policies, changes in population profiles, social patterns, lifestyles, and so on.
Threats
These are environmental elements that can cause trouble for a project or a business. They include the obstacles faced by the organization, the organization’s competitors; whether quality specifications or standards of the organization change every time; whether the changes in technology are a threat to the organization’s position in the market; whether the organization has problems of cash flow or bad debt, or whether the organization’s weaknesses can seriously threaten the activities of the organization. Casario, (2012) says that PEST analysis is very significant when looking at the company’s opportunities and weaknesses as it ensures that the decision makers do not overlook external factors. The major threat for SWOT implementers is the aspect of competition. Programmes aimed at improving the welfare of the community, like health improvement programmes, may not have any competition in a market sense. But it becomes a threat when there is preference in funding; funding favoring other projects against the rest. Competition should be considered on a very broad sense since it is a very serious threat to the efforts of any organization (Fleisher, & Bensoussan, 2007)
Industry Environment-Porter’s Five Forces Model
The five forces include:
Supplier power: Involves the analysis of the ease with which the suppliers are likely to drive up the prices (Casario, 2012). It is influenced by the number of suppliers for a particular input, uniqueness of a particular product or service, relative strength and size of a particular supplier, and the cost of switching suppliers.
Buyer Power: Involves the assessment of the ease with which a buyer can drive prices down. It is influenced by the number of buyers and the importance of buyers to the industry (Fridson & Alvarez, 2011).
Competitive Rivalry: This is driven by the capability and the number of competitors in every market. Competitors tend to reduce market attractiveness.
Threat of substitution: Involves customers switching from one product to another in response to price changes. This reduces the market attractiveness and the suppliers’ power.
Threat of new entry: Fleisher & Bensoussan, (2007) asserts that profitable markets tend to attract new entrants, thereby eroding profitability. The incumbent players need to have durable and strong barriers to entry to avoid the decline of their profitability.
The five forces discussed above are made up of several components: Threat of new entry (cost and time of entry, economies of scale, technology protection, barriers to entry, cost advantages, and specialist knowledge), competitive rivalry (number of competitors, switching costs, customer loyalty, cost of exiting the market, and quality differences), supplier power (size of suppliers, number of suppliers, uniqueness of service, cost of changing, and ability to substitute), buyer power ( price sensitivity, cost of changing, number of customers, differences between competitors, and ability to substitute), and threat of substitution ( cost of change, and substitution performance).
The five forces are very beneficial for any industry that needs to enjoy a competitive advantage. It helps industries understand the factors that affect profitability, and can make decision makers make informed decisions concerning: whether to enter or not enter a specific market; whether to increase the product capacity in a particular market; and to develop competitive strategies (Fleisher & Bensoussan, 2007). The model is influenced by several factors that include: the model should be used in a market situation where there are three and above competitors, impacts of government activities on the industry should be significant, stage of the organization’s lifecycle, and the changing or dynamic characteristics of the industry. The model is only applicable to the industries and should not be used in the analysis of firms. According to Casario (2012) the forces describe the micro environment of an industry and are close to factors that make a company serve its customers well and at the same time make profits. A negative change in any of the forces requires the industry to re-assess the conditions of the market place and analyze the overall impact to the whole industry.
Macro environment-PEST analysis
This tool is very vital in assessing or “scanning” the external environment. It involves the analysis of political, economic, social, and technological aspects of a business environment. The actions of a competitor are also considered in this aspect (Casario, 2012). It is important for an organization to consider taking pro-active approach to enable it be ahead of the changes, rather that making hurried alterations to processes and products in a reactive manner. The components of the PEST analysis are discussed below:
Political changes:
Change of a governing body or changes in government policies can significantly influence the operations of a company (Fine, 2009). These changes are closely related to legal changes. Laws affecting business operations include: environmental legislation, consumer protection legislation, employment laws, and safety laws.
Economic changes
The economy normally goes through series of fluctuations involving general slumps and booms in economic activities. During boom, almost all businesses benefit while most businesses lose during a slump (Fridson, & Alvarez, 2011). Other economic changes associated with business activities include changes in wage rates, interest rates, and inflation rates. Businesses are likely to take risks and expand in good economic conditions.
Social factors
These relate to the pattern of tastes, behavior, and lifestyles. It involves changes in consumer behavior brought about by changes in style and fashion (Casario, 2012). The population age structure also tends to change over time. A business that understands the social changes has a better of way planning for the future.
Technological changes
This involves changes brought about by modern communication technologies. According to Fleisher & Bensoussan (2007), the creation of electronic communications and databases has enabled large quantities of information to be distributed and quickly shared, thereby enabling cost reductions and improved services. It is important for an organization to be conversant with the latest technologies to enable it surf the waves of change within no time.
References
Casario, M. (2012). CSS3 solutions: Essential techniques for CSS3 developers. Berkeley, Calif.: friends of ED.
Fine, L. G. (2009). The SWOT analysis: Using your strength to overcome weaknesses, using opportunities to overcome threats. S.l.: Kick It.
Fleisher, C. S., & Bensoussan, B. E. (2007). Business and competitive analysis: Effective application of new and classic methods. Philadelphia, Pa: Wharton School.
Fridson, M. S., & Alvarez, F. (2011). Financial statement analysis workbook: Step-by-step exercises and tests to help you master financial statement analysis. Hoboken N.J: Wiley.
Fullen, S. L. (2006). How to get the financing for your new small business: Innovative solutions from the experts who do it every day. Ocala, Fla: Atlantic Pub. Group.
Peragine, J. N. (2008). How to open & operate a financially successful personal training business. Ocala, Fla: Atlantic Pub. Group.
Advocate Interview Project.
Advocate Interview Project
Name: David Robinson
University: Miami
Course:
Tutor:
Date:
Advocate Interview Project
In this advocate interview project paper, it is significant to indicate that the researcher chose to carryout an in-depth interview with a social worker who deals only with the veterans. The interview was carried out at the office of chemical dependency at the Dayton Ohio Veterans Hospital. The social worker that the researcher interviewed wanted to remain anonymous fearing that some of the sentiments she would make might come back to haunt her. She has been in the V.A hospital for over ten years and is from the school of thought that more can be done for the veterans. Furthermore, the interviewee had worked in two other hospitals in different states. Moreover, she stated that since V.A had devised a plan that is used in hospitals globally, there is minimal leeway on the use of different plans fixed to help individuals rather than large groups.
During the interview, the interviewee was happy that more veterans were becoming interested in social work. This was due to the fact that her veterans have some connection within their group that eventually help them extend to the other veterans. The interviewee stated that the groups are further aimed at making a positive difference on the lives of the veterans who had fallen into dependency on drugs and alcohol since majority were not receiving any help. The information gathered from the groups is applied by the veterans to help better their lives. Further, the interviewee stated that the veterans sometimes try self-medication with absolutely no positive result. Therefore, large programs should be developed in order to help the population on issues related to dependency. Indeed, it is significant to note that the veterans are not just a diverse group but also disproportionate with several issues twined in their lives. Consequently, in the context of challenges faced, the interviewee stated that they have a huge amount of paper work required by V.A. such as keeping daily logs and several other forms that are required to be completed accurately. Moreover, since the program keeps on changing, there are several trainings that often require paper work.
The social worker interviewed indicated that despite the fact that they do recommend for changes that should be initiated, the implementations process is very slow in cases where they actually take place. The V.A. system that is used is that which was put in place by the Congress. The veterans are also recommended to join smaller groups with openings and are consequently assisted with filling the forms. The interviewee indicated that the forms are reviewed since they are often used in the compensation claims of the veterans. The forms are recorded electronically for preservation and future retrieval. Furthermore, the interviewee indicated that the local representatives are also involved through writing regarding the process that can be adopted to ensure the promises made to the veterans are fulfilled.
Further, the interviewee stated that as a result of the huge amount of veterans that are attended to by an individual social worker, it has not been easy to actually communicate with each other. Indeed, the social worker finds it difficult to remember the veterans at a personal level. The interviewee was from the school of thought that the process should be adopted when asking a specific question. Nonetheless, it can lead to increased problem whenever the question is not answered correctly and therefore does not use the process in such cases. In this process, even the very little changes in documentation or wording can cause delays in benefits or compensations that the veterans are entitled to.
The other challenges include the fact that working with many physicians within the system is often straining and learning the concern of each one of them is difficult. This is coupled with the need to meet every need of the veterans and consequently obtaining the best outcomes. Filling of the forms is detailed and the wording is then checked by the superiors. The interviewee stated that she often indicated to her superiors that the wording can have a poor reflection on the system and the treatment of the veterans. Indeed, it usually does not reflect the actual needs of the veterans and therefore delivery of the best treatment to them is likely to be hindered. Nevertheless, the interviewee stated that the process is not applied all the time since some of the areas she has worked have different ways of completing the reports. In such instances, the documents are kept as close as possible and are able to indicate what the social worker does.
Further, the researcher asked the interviewee about the job and responsibilities where she indicated her happiness in serving both men and women within the country. Indeed, she finds a sense of accomplishment whenever she helps a veteran find help and the need met. She made a reflection and stated, “When I look at a veteran I have no idea what they have been through in their time. To me they are not just another client to deal with. It is my honor to help with all the resources I have at my disposal.” The interviewee indicated that she receives different set of problems daily in her office and each of the problems does not have a specific solution. It is therefore significant to listen to the person with the problem or need. The interviewee ensures that what the client says is repeated severally to help get the exact need of the client in order to provide the best solution. This gives her a personal satisfaction that the need of the veteran is met. Nonetheless, the rules could be modified depending on the circumstances. However, such circumstances must be presented to the supervisor before any modification is done.
The interviewee made some recommendations aimed at helping the veterans with the problems not covered by the V.A. She stated that they would be happy to see the expansion of the healthcare and the dependency care in particular. This will help the homeless veterans as well as keep them away from drugs and alcohol. Further, teams should be launched for the veterans within the rural areas. This is because veterans within the rural areas fall into the cracks of those not receiving any care thereby creating a great concern within the social worker’s role of being unable to help the veterans. Coming up with a new role within the V.A. is not easy due to the processes involved and may take years before it perfectly works for the veterans. This is likely to create a feeling within the veterans that they are not cared for. Despite the fact that this is not true, it becomes difficult to actually explain to them since they believe V.A. cares for them. Indeed, the social worker indicated that they are often put on the spot to explain the process that is put in place by the Congress that are unrealistic.
The policies often change within different levels creating problems for the staff while handling cases. Nevertheless, some of the changes enhance the process while others do not. The social workers are usually asked about the whole process in the context of outcome. The personal feelings of the social workers sometimes make them not to actually speak out. The disappointment with the system is of great concern to the social workers who would want to help. There is a general feeling among the social workers that their hands are tied with regard to helping the veterans.
The interviewee indicted that building a strong relationship with individuals who have very little trust is not easy. She stated categorically that the veterans are only possessed with the memories of the promises made to them regarding care after the military service and not the obstacles involved in achieving the best care. This makes it difficult for the veterans to develop patient and trust in waiting for the processes involved in meeting their need. Despite the fact that the social workers interested in waiting for the help, they often get disappointed with the system and as a result loose interest. The interviewee therefore wished the process would be faster or simply come up with temporary measures to help the veterans as they wait for the whole process. Indeed, the process should not prevent the veterans from seeking help whenever they need it. Since there is increased prevalence of PTSD among the veterans, they should not be left without any adequate care. In a nutshell, the social worker indicated that any little help accorded to the veterans that may seem insignificant, is of great importance to them.
The interviewee stated that the policies recommended should include fast tracking. The social workers require a latitudinal movement whenever the veterans come for help. Moreover, separating environmental concerns is not easy when the needs are immediate and putting oneself into the life of a veteran is not easy. However, the researcher found it difficult to actually understand her mention that social workers should not get involved with the personal life of the veterans during care. Nevertheless, the veterans should not be seen as being the same as the general population since they go through different hardships with increased pressure.
In conclusion, the interviewee stated that ideas and policies should be developed to ensure the system is efficient. There should be increased collaborations and a focus on the lives of the veterans not on the numbers and cost involved. In a nutshell, the interviewee was optimistic that in the next ten years things will change with the policy making extending more help and subsequently providing flexibility for the social workers to make independent decisions.
How Marketing Mistakes Affect International Marketing
How Marketing Mistakes Affect International Marketing
Companies tend to make mistakes when expanding their business internationally that can have a significant impact on the business. It is important for companies to stay aware and avoid making these mistakes for better chances for growth, visibility, and success. One of the common mistakes companies do is not doing sufficient research. When companies fall to do sufficient research, they are bound to fail. Sufficient market research is helpful in understanding the needs and wants of the target markets. Without the knowledge, creating an impactful and compelling marketing strategy that identifies with the target audience. Another common mistake is a lack of flexibility. International market keeps changing constantly and companies should ensure their marketing strategies are flexible to change and evolve. They should know that to become successful, they must remain willing to adapt to a landscape that is ever-changing. Another mistake is failing to localize content to ensure it aligns with the target audience. Companies that do not localize their content remain at risk of developing products/services that are irrelevant to the culture of their target market((“Common International Marketing Mistakes and How to Avoid Them – DA Languages,” 2022). For instance, they can use images, concepts, languages and humor that is culturally appropriate or well-received. Content which is inconsiderate of its target market is ineffective and wasteful and can come off as offensive. Lack of cultural propriety does lasting damage on a business’s reputation. Another common mistake that affects international marketing is not using the correct channels. It is important for a company to put to use the correct channels to reach the target audience. It may include social media, local print and online media platforms that are popularly used in that country. Using the wrong platforms is a waste of valuable resources and time as the target audiences are rarely met.
References
Common International Marketing Mistakes and How to Avoid Them – DA Languages. DA Languages. (2022). Retrieved 17 October 2022, from https://www.dalanguages.co.uk/common-international-marketing-mistakes-and-how-to-avoid-them/.