Please
reword these paragraphs and do not use the same exact words that they have.
Please use your own words
do not copy from any websites or papers.
Strategic Management, Ch. 2
- 1-SWOT stands for Strengths, Weaknesses, Opportunities, and
Threats. A SWOT analysis is the analyzation of a firm’s environment, both
internal and external. The strengths element looks at the factors that
are doing good in and for the firm today and the weaknesses element looks at
the factors that are doing badly in and for the firm today. The
opportunities element look at the factors that could do good or be good for the
firm in the future and the threats element looks at the factors that could be bad
for the firm in the future. SWOT analysis can and are different for
different firms because while they may be in the same industry with similar
interests, each will have their own strengths and weaknesses to contend
with. As Dess, Eisner, Lumpkin, & McNamara (2014) point out, the
basic idea for a SWOT analysis is so that a firm can build on its strengths,
fix the weaknesses or find workarounds, exploit opportunities, and safeguard
against threats.
Reference
Dess, G., Eisner, A.,
Lumpkin, G.T., & McNamara, G. (2014). Strategic
management: Creating competitive advantages (7th ed). New York, NY:
McGraw-Hill.
Strategic Management, Ch. 3
- 2-The SWOT
analysis is a great tool for strategic analysis but it is not all
inclusive and has its drawbacks and limitations so it should be used in
conjunction with other tools. As Dess, Eisner, Lumpkin, & McNamara
(2014) tell us, “SWOT cannot show them [managers] how to achieve a
competitive advantage” (p. 73). Some points made about the
limitations are that SWOT strengths do not always lead to an advantage, the
focus of SWOT on the external environment is too narrow, SWOT is only a snapshot
view of a firm’s current status, and SWOT causes the emphasis to focus on a
single factor such as a strength or weakness. The lesson learned is that
SWOT should only be a starting point and should be used in conjunction with
other tools to develop competitive advantages.
Reference
Dess, G., Eisner, A.,
Lumpkin, G.T., & McNamara, G. (2014). Strategic
management: Creating competitive advantages (7th ed). New York, NY:
McGraw-Hill.
World-Class Supply Chain Management
- 3-I would have
to agree with Shelly Stewart that it is very important to have a company’s
supply chain strategy in place. Both the company and the supply chain
would want to mirror each other supply and demand process. For example
Shelly Stewart spoke about a global strategy and not to think local strategy.
This whole process he spoke of would include the people, product, and process
model. For example the retail industry in the United States requires huge
amounts of inventory that are new for each season of the year. The
business or company would make projections on the amount of inventory to
purchase from the supply chain for the coming season. Let’s take for
example the summer season and the items would be summer clothing. The
company or retail outlet would make a purchase order for a certain amount of
summer clothing from the supply company. The retail manager must order
from the supply chain in early fall for example to meet a certain date for
delivery at the business. The strategy involve like Shell Stewart
explains is complex because now you have to project when the ship or shipping
container arrives on the west coast or the east coast . If the shipping
container arrives on the west coast now you have to account for trucking cross
country opposed to if the ship went to the east coast. It involves a good
sound strategy involving the supply chain and the company because a couple of
weeks of being late for an order in early fall could mean a huge loss of retail
sales in the summer clothing for example.
Extending the Supply Chain
4-One thing that a
company could do to expand their role in a given supply chain to help their
customers and increase their business at the same time is to provide
customization and personalization. Customers are looking for innovation
and allowing them to customize or personalize their products is one way of
giving them their own item that they create and therefore know they love.
Ensuring that the vendors are all in line with the processes to ensure quick
turnaround times will be crucial. By using technology, a company can
allow the customer to add their input from a selection and production can occur
almost immediately after the customer pays for their personalized
product. By integrating the newer technologies such as SAP to
interconnect the suppliers with the company, the production and turnaround
times can be reduced through supply chain efficiency to provide an exceptional
product in less waiting time for the customer. The company needs to
understand the full supply chain to ensure that the needed supplies are always
available and where to go if the main supplier cannot provide the needed
supplies. By integrating everyone involved in the supply chain, the
customer will benefit from having the items they want when they want them and
the suppliers and company will benefit from selling the right products at the
right time.
I have to answer
these posts like if I was having a conversation face to face.
- 5-I think SWOT
would best be used in a group brainstorming session. For example, if the
marketing department of a company is releasing a new product, the different
members of the team could address the strength, weaknesses, opportunities, and
threats of the product release while a member of the team boards them.
The areas that need to be addressed could be assigned to each member as a
takeaway. Any weaknesses, opportunities, or threats could be explored and
resolved before the roll out of the product.
- 6-I am a firm
believer that people, product and process is the key component and the
lifeblood of any organization. The new company management should have
conducted an internal Swot and held a meeting with the current employees of the
organization to hear their concerns. The most important part of any
business is the people and as you explained the process the deals made in three
years started on day one. The management should have held meet and greet
and would of had sound words for judgment sooner because of you. The
experience and knowledge as a Program Manager will be the direct influence to
have the ability to bring your group to your way of thinking as the Associate
Director.
- 7-How have
you seen this implemented successfully in your experience? How can this kind of
image-enhancing supply chain be a key part of company’s strategy?
- 8-I
definitely agree with Shelley about the importance of a company supply chain
strategy matching its company strategy. The alignment of both strategies to
achieve company goal is very essential to ensure a high degree of effectiveness
in performance. Effective supply chain strategy from the production floor to
the customers put the company in a stronger position to meet customers demand
on time and business objectives.
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