Strategic Plan SWOTT Analysis
The purpose of this paper is to develop a strategic plan SWOT analysis for CryptoSource Concierge, LLC. Planning is a method of ensuring that the resources available in a company are used in the most efficient ways to obtain explicit results. Strategic planning is a process of determining how an organization intends to be in future and how it will attain the desired goals. Strength and Weakness, Opportunities, Threats, and Trends (SWOTT) analysis is a strategic planning tool that matches the internal organizational strengths and weaknesses, with the external opportunities and threats (McGuire, 2014).
In any working environment, there are economic, legal and regulatory forces that cause the rise, growth, expansion or even downfall of a business activity. Economic forces entail factors that help control the competitiveness of the environment in which the business activity is initiated. At CryptoSource Concierge, LLC, examples of these factors are interest rates, changes in government, rate of inflations in the state, and customer confidence and monetary policies. Legal forces tend to standardize the actions of the management team to the non-management team (Olsen, 2011). The common rising legal issues include discontented employees, discrimination at places of work, and finally dissatisfied customers. Regulatory forces aim at protecting public interests from any kind of abuse or harassment, by regulating decision-making liberties in an organization. Examples of such regulations include market entry controls, minimum wages, and prices of commodities in the market. All the forces have to be integrated in the management of an organization for effective growth and expansion of the business.
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CryptoSource Concierge, LLC management adapts to changes by use of several measures. It prepares its employees on the importance of the changes and how it will impact their lives positively. This is done after it has analyzed the organization and the needs for change (Rumelt, 2012). This includes the strengths and weaknesses of the business, how employees relate and how the management and non-management handle business interests. Through creation of a shared vision and common direction, all stakeholders are encouraged to support the changes for the company to achieve its desired objectives.
Supply chain involves the process of organizations, employees, activities, information, and resources put in place for transporting a product or service from manufacturer to the customer. The main aim of CryptoSource Concierge, LLC is to provide strategic IT and cyber management services and support other IT and cyber focused companies that provide quality products and services. Their technicians provide field support services with the use of current, proprietary and specialized technologies. The remote Cyber security provisions enables safe use of mobile devices, cloud based applications, social networks and securing essential company information (Olsen, 2011). The new division entails establishment of a software development division that is customer focused. The company will need competent software development team who will be able to handle different customer requirements. In order to develop and leverage core competencies and resources within the supply chain; the organization has to develop strategies that outdo their competitors. A supply chain strategy is necessary to operationalize and support the business strategy. These include provision of after sales services to its customers. For example, provision of free remote cyber security services that is monitored at CryptoSource data to loyal customers is a strategy.
The major issues facing the company that reduces its marketability include the introduction of free trade agreements and laws which have forced American companies to compete with third world counties, encouraging corporations to outsource jobs in the U.S overseas. Another issue is the supply and demand risks, which arise from stiff market competitions. Tagging on that are the pricing risks that come about as a result of regulations of market prices by the states. The other issue is economic factors like increasing inflation rates that directly affect the production and sales of their products (McGuire, 2014). However, despite of the challenges, the company has opportunities that help in sustaining peaceful management of the business. These include the existence of good leadership styles that encourages equality, justice and fairness in the supply chain. The good organizational culture also promotes peaceful coexistence of all employers encouraging good employee relationships. The organizational structure is also aligned to the goals of the company; it has no salaried employees other than the founder of the organization, reducing the costs on salaries.
There are hypothesis surrounding the major issues in the company. The state should come up with laws and regulations that protect the interests of American companies so as to retain their strengths in the global market that end up boosting the American economy (Rumelt, 2012). These hypothesis from the common issues affecting the company gives rise to questions like, is the company ready to accept new changes? Is it ready to accept the liabilities of spending in better technological innovations? Does the company value intrapreneurship and employee growth? Does the organizational structure support the company’s goals and objective?
All the major issues affecting CryptoSource Concierge, the effects of the trade rules cause LLC and regulations set by the state and the nature of the economy. The circumstances are classified under external factors that have impacts in a company. They are important in the sense that it is necessary when coming up with solutions to the problems, meaning it can be handled from a different perspective. The issue on increasing inflation rates is also an external factor, and can be improved by ensuring that there is good economic stability in the state, which has overall positive effects in business. Concerning organizational culture, it is classified as internal factors in the company. Its importance is seen from the productivity of the business, good organizational structure produces corresponding effects to the company (McGuire, 2014).
SWOT ANALYSIS TABLE.
|Legal and regulatory||Protects employee rights||Limits decision making||Easy to access||Law suits from customers|
|Global||Promotes company image||Can cause trade conflicts||Seasonal high demand for products||Stiff competition.|
|Economic||Promotes trade||Unpredictable||Fair and just||Consequential|
|Innovation||Company reputation of being innovative||Expensive||Promotes intrapreneurship||Can be costly|
|Environmental||Promotes company growth||Companies are mandated to follow the regulations.||State regulations well implemented||Can have cost effects|
|Strategy||Boosts production levels||Many missed objectives||High demand for services||Incompetency|
|Structures||Promotes company goals||No permanent employees||Reduces costs||Can lead to conflicts.|
|Processes and Systems||Simple to follow||Can be copied easily||Easily accessible||Intellectual property threats|
|Resources||Available||Scarce||Easy to access||Inflation affects spending|
|Culture||Good culture||Limited to few individuals||Benefits the employee||Can cause discriminations.|
|Leadership||Strong leadership||Staff are overworked||Good motivation||Competing companies|
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