Example of a Small Business Performing a SWOT Analysis Essay Example for Free

Example of a Small business sector Performing a overdress Analysis EssayLearn more about performing a SWOT analysis beforehand reading the case study.BackgroundThe trinity members of the leaders team at a small trade consulting firm were interested in expanding their offerings to their clients. Currently the firm has 20 employees (including the three members of the leadership team) many of whom are consultants with the balance being administrative and marketing staff. The last sentence the smart set had d adept a SWOT analysis was when they were first starting up in business and were constituteings on their business plan. The SWOT academic term enabled them to develop their business plan by having them think by means of their business closings and objectives for viability and feasibility. At the time, the three of them, plus a few members of their Advisory Council participated in the SWOT analysis. The goal of this SWOT academic school term would be to* narrow way s to better position the keep caller in marketplace. * Determine new products and run to offer clients to better compete in a crowded marketplace.Preparing for the SWOT sessionThe leadership team wanted to set aside 3 hours for the SWOT session. Given that the business was small, the leadership team felt that everyone should participate. The following decisions were make * All 20 employees would participate in the SWOT session* A Friday morning in mid-summer would be set aside for the session (andas a convey you for participating employees would be given the balance of the day off to spend with family and friends) * The focus of the SWOT session would be toward determining products and services to offer to clients and that information would be generated to participants beforehand so they can set off to think about it * A professional facilitator would be brought in to lead the session since this SWOT coiffe was essential to the corporations continued growth and success Addi tionally, the leadership team was going to provide all participants with a copy of the SWOT analysis done at the very beginning before the business venture began. While it had a different purpose, it would be valuable for the SWOT session participants to watch over it and, from the leadership perspective, it would be interesting to compare then to now.The SWOT sessionBrainstorming was used during the SWOT session to gather data for the companys strengths, weaknesses, opportunities and threats. The facilitator led the group starting with strengths and working through with(predicate) to threats. An hour was allocated for this task. Each participant spent time writing on steaming notes their thoughts, ideas, opinions, beliefs and known truths regarding the companys strengths, weaknesses, opportunities and threats. When done, all of the information was posted on the walls under the appropriate heading (e.g. Strengths, etc.)Prioritizing the informationThe close hour and a half was spent reviewing the data with an eye toward * Looking for themes/commonalities combining similar sticky notes under themes (e.g., Customer Service) * Prioritizing based on* Significant information/data provided by large amount of participants (e.g, ineffective use of social media was mentioned 15 times) * What could be quick hits for the company to start to efficaciously compete against the competition * Products and service ideas that can be created within a years time frame The table below is a small sampling of the data gathered during the brainstorming session. This ill-tempered data is selected as when they prioritized their efforts these were the areas of focus.STRENGTHS WEAKNESSES OPPORTUNITIES THREATS* Long-term employees committed to the company * Customers love the work done by the company * Customer retention is high * Well-known brand in the local area * Company has made a profit every year in business * Client base was evolution * No blog on the website * Ineffect ive use of social media * No global customers * The business hasnt grow in the last few years and seems stagnant. * No presence at trade shows or assiduity events/ conferences * No new blood bringing in fresh ideas * Client base not growing as quickly as in past * Ask current customers to refer business * enjoyment social media and blogging to build brand name and gain new customers * detonate business nationally * aim smaller start-ups who needed strong marketing to get their business off the ground * Provide gross revenue support services for clients * Offer dashboards for tracking marketing * Competition was increasing * A number of local competitors were already blogging and utilizing social media * Current customers wanted social media consulting and it was difficult to do so when the company doesnt do social media themselves* Lots of individuals and other new small businesses popping up who do marketing consulting Based on the information gathered during the brainstorming sessions and what the participants believed could be accomplished in a one to two year timeframe to have a significant impact on the business, the following was unyielding to collide with the objectives Objective Better position the company for success in the marketplace Objective New products and services * fuck off a blog * Assign responsibilities for social media accounts LinkedIn, Twitter, Facebook * Ask current customers to refer business * Expand business nationally * Develop and offer dashboards for customers to manage marketing initiatives * Provide services to start-ups who need a strong marketing initiative * Provide social media services and support Next stepsThe companys next steps were to take the projects they decided to accomplish toward achieving their goals and* Assign responsibility for that project* Develop a project plan including a timeframe and budget needs* Prioritize the projects further* Begin workA survey done of all participants after the SWOT session showed that they were excited about the process and the path they had developed to help meet company goals. By getting all employees involved, the leadership team showed that they valued all employees and wanted their contributions to help make the company a success. Once a calendar month the leadership team would meet with each project lead to check on project status. It was decided that on an annual basis employees would participate in SWOT sessions to work on strategy for the coming(prenominal) year. As the company grew, employees would have the opportunity to participate on a rotating basis.