Expert answer:SWOT Analysis
Solved by verified expert:For the company you have chosen (Jerry’s Caribbean Food Truck), identify and
assess at least four but no more than eight of each of the following:
strengths, weaknesses, opportunities, and threats that may affect new
business activities or offerings.Then, identify emerging consumer trends
and explain how they impact branding and success of your new product or
service. Additionally, analyze how perceived ethics violations might
affect branding and success. Finally, assess how all of the SWOT and
ethics factors affect branding and operations within the organization. Section Five: Core CompetenciesContinue
your paper by identifying and explaining three to five core
competencies for the company you have chosen. Explain how and why they
are not easily duplicable by the competition. Explain how these core
competencies dovetail with your new product or service offering.Upon
which competency or competencies will the new business offering benefit
and why? What strategic implications will/could this have on the new
offering?Guidelines for Submission: Milestone Two should utilize
double spacing, 12-point Times New Roman font, one-inch margins, and
discipline-appropriate citations. It should be 8 – 10 pages in length
and follow. APA formatting requirements. The company is Jerry’s
Caribbena Hut
mba560_milestone_two_guidelines_and_rubric.pdf
proposed_outline.docx
swot_analysis.docx
Unformatted Attachment Preview
MBA 560 Milestone Two Guidelines and Rubric
This milestone defines an organization’s core competencies, key strengths, and key weaknesses to provide strategic viability for it in the marketplace. These are
important because they impact the strategic management process. Business decisions are made to capitalize on strengths, while avoiding potential dealings in
which organizational weaknesses could compromise success. Core competencies are defining capabilities that provide strategic advantages because the
competition cannot easily duplicate them. These relate to the final project because they provide the foundation for continued growth and success in the dynamic
marketplace. They provide guidance that will go beyond the current product or service being presented in the business plan.
Specifically, the following critical elements must be addressed:
Section Four: Strengths and Weaknesses
For the company you have chosen, identify and assess at least four, but no more than eight, of each of the following: strengths, weaknesses, opportunities, and
threats that may affect new business activities or offerings. You may use topics listed in the Module Four discussion or others that you deem important. Then,
identify emerging consumer trends and explain how they impact branding and success of your new product or service. Additionally, analyze how perceived
ethics violations might affect branding and success. Finally, assess how all of the SWOT and ethics factors affect branding and operations within the organization.
Section Five: Core Competencies
Continue your paper by identifying and explaining three to five core competencies for the company you have chosen. Explain how and why they are not easily
duplicable by the competition. Explain how these core competencies dovetail with your new product or service offering. Upon which competency or
competencies will the new business offering benefit and why? What strategic implications will/could this have on the new offering?
Guidelines for Submission: Milestone Two should utilize double spacing, 12-point Times New Roman font, one-inch margins, and discipline-appropriate citations.
It should be 8–10 pages in length and follow APA formatting requirements.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements
Strengths,
Weaknesses,
Opportunities, and
Threats: Assess
Proficient (100%)
Identifies and analyzes at least four, but
no more than eight of each of the
following: strengths, weaknesses,
opportunities, and threats that may
affect new business activities or offerings
Needs Improvement (70%)
Identifies and analyzes two to three of
each of the following: strengths,
weaknesses, opportunities, and threats
that may affect new business activities or
offerings
Not Evident (0%)
Identifies and analyzes only one to two
of each of the following: strengths,
weaknesses, opportunities, and threats
that may affect new business activities or
offerings
Value
18
Strengths and
Weaknesses:
Opportunities:
Consumer Trends
Assesses how emerging consumer trends
impact branding and success of new
product or service in current global
marketplace, identifying most relevant
trends and how they apply to target
market in justifying response
Strengths and
Weaknesses:
Opportunities: Ethics
Analyzes how perceived ethics violations
might affect branding and ultimate
success of new product or service in a
global environment, supported by
specific examples
Strengths and
Weaknesses: Affect
Assesses how factors identified affect
branding and operations across different
departments, including how business
plan takes this into account
Core Competencies
Assesses aspects of company or new
idea that set it apart from the
competition and provide long-term
sustainability in the market, including
how those competencies affect business
plan
Minor errors related to organization,
grammar, style, and citations
Writing
(Mechanics/Citation)
Assesses how emerging consumer trends
impact branding and success of new
product or service in current global
marketplace, identifying most relevant
trends for target market in justifying
response, but response contains
inaccuracies or omits key details, or links
between trends and impact are tenuous
Analyzes how perceived ethics violations
might affect branding and success of
new product or service in a global
environment, but analysis is cursory,
illogical, contains inaccuracies, or is not
supported by specific examples
Assesses how factors identified affect
branding and operations across
departments, including how business
plan takes this into account, but
response contains inaccuracies or omits
key details, or link between factors, their
impact, and business planning is tenuous
Assesses aspects of company or new
idea that set it apart from competition
and provide long-term sustainability,
including how those competencies affect
business plan, but response is cursory or
illogical or contains inaccuracies
Some errors related to organization,
grammar, style, and citations
Does not assess how emerging consumer
trends impact branding and success of
new product or service in current global
marketplace, identifying most relevant
trends and how they apply to target
market in justifying response
18
Does not analyze how perceived ethics
violations might affect branding and
ultimate success of new product or
service in a global environment
18
Does not assess how factors identified
affect branding and operations across
different departments, including how
business plan takes this into account
18
Does not assess aspects of company or
new idea that set it apart from the
competition and provide long-term
sustainability in the market, including
how those competencies affect business
plan
Major errors related to organization,
grammar, style, and citations
Total
18
10
100%
Jerry’s Food Truck
Caribbean Food, Oxtails, Rice and peas, Curry Goat, Curry Chicken, Plantains, etc
Caribbean Food on Wheels
Proposed SWOT Outline
Outline
Cover page
Abstract
Introduction
Assess: Identifies and analyzes at least four, but no more than eight of each of the following:
strengths, weaknesses, opportunities, and threats that may affect new business activities or
offerings.
Consumer Trends: identify emerging consumer trends and explain how they impact branding and
success of your new product or service. Assesses how emerging consumer trends impact
branding and success of new product or service in current global marketplace, identifying most
relevant trends and how they apply to target market in justifying response.
Ethics: analyze how perceived ethics violations might affect branding and success. Analyzes
how perceived ethics violations might affect branding and ultimate success of new product or
service in a global environment, supported by specific examples.
Affect: Assesses how factors identified affect branding and operations across different
departments, including how business plan takes this into account.
Core competencies
Intro
Competency 1:
Competency 2:
Competency 3:
Explain how and why they are not easily duplicable by the competition. Explain how these core
competencies dovetail with your new product or service offering.
Upon which competency or competencies will the new business offering benefit and why? What
strategic implications will/could this have on the new offering?
Assesses aspects of company or new idea that set it apart from the competition and provide longterm sustainability in the market, including how those competencies affect business plan
Briefly profile your idea and its single greatest strength and weakness in each of the following
categories:
•
People: Consider one of the following areas: skills, knowledge, capabilities, impact on
others both inside and outside the company, or other (be specific).
•
Products and/or Services: Consider one of the following areas: distinguishing features
(or lack thereof), competitive advantages/disadvantages, quality, speed of delivery,
installation and/or service capabilities, or other (be specific).
•
Company: Consider one of the following areas: reputation, capacity, responsiveness,
customer attitudes, or other (be specific).
______________________________________________________________________________
My project idea is to invest in a Caribbean food truck business. This involves renting a food
truck, negotiating a lease/ rental agreement and starting to do business in a busy environment
where there are many customers. The following is the SWOT analysis for the food truck
business.
People Product and Company
Strengths
·
Experienced staff; I would have to employ experienced staff for the food truck businesses
that have worked in such an environment and who have the relevant customer service skills to
properly serve the customers with diligence.
The greatest strength of the company would entail; Cheaper prices than those of the competitors;
high quality food at cheaper prices can lure the customers more and encourage them to buy from
the business. also the business would have pride in putting forth innovative food with the freshest
ingredients; other factors that add to the strengths include High quality food for brand
recognition, collaboration with local restaurant, fast responsiveness to the customer demand
People Product and Company
Weakness
Limited amount of capital; There are rising food costs that could potentially affect the business;
Growing competition from other truck businesses. Competition from the existing restaurants and
fast food businesses who have invested in food truck business.
People
Opportunities
One of the opportunities the business will enjoy is the availability of staff. This business
is family owned and was started by Mr. Smith and his wife. Smith has previously been in the
restaurant industry but has ventured out to start his own business after saving enough capital. The
reason why this is an opportunity is that Smith has the required skills to run the business through
the preparation of quality foods that are appealing to the customers. It will also be a new type of
task for the staff because they will have the opportunity to move around the city. Furthermore,
his wife has taken some management classes and thus has the expertise to run the finances of the
business. There are also many people who would be willing to have fresh food delivered to their
door step even without having to call to make an order.
Threat
One threat in regard to the people is that the two owners are of a different racial
background. The neighborhood is flooded with White people, yet the owners are Black. This can
be a weakness since there are those who would not want to purchase from the food truck because
of their race. This means that Mr. Smith may lose a large market share of those who are of a
different racial background. Competitors who are already established in the market pose a big
threat to the company. Ethically, discrimination is wrong on all levels. All people should be
treated equally and fairly.
Products
Opportunities
A major opportunity is the quality of the product that they offer. The food truck offers the
best fries as well as burgers which is an appealing factor to the customers unlike what some of
the competitors have been offering. A quality product in any business will keep the customers
loyal since they will see the value of their money.
Threat
The products being offered are common to other restaurants in the area. The nearby food
trucks, as well as restaurants all, offer the same products. This means that the competition is stiff
since the customer has an option of buying from the various joints.
Company
Opportunities
A major opportunity that the company is new and have new and better services and
products to offer in the market. Because of the quality of the products being offered, the
reputation of the company has grown. Furthermore, its ability to move from place to place has
helped its reputation to grow. Each person wants to be associated with the best things in life as
well as the best brand (Barnet & Ferris, 2016). Therefore, as the reputation of the company
grows, more customers will want to be associated with the business thus more profits for the
business.
Threat
The biggest threat that the company faces is its financial ability to expand. As more and
more customers come in, there will be need to expand its capacity to offer service to the
customers. Since the business has not enough finances, this may become a problem and thus in
the process translate to losing customers.
…
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