SWOT Analysis: A Strategic Implementation Tool for Businesses - Essay Sample

Introduction

SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis is one of the strategic implementation tools that are used by many strategists (Keller et al., 2017). The tool aims at identifying the business strengths that require capitalization, the weak points that need minimum efforts, the opportunities that the entrepreneurs should utilize along with the threats that the business must get ready to tolerate. The tool has been successful in managing the implementation processes in various organizations (Keller et al., 2017).

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For instance, Primark UK is a clothing business company in the UK (Ortega & Okechukwu, 2017). The tool has been successfully used in various implementation activities. Since the company is a strong utilizers of low pricing as its value preposition strategy, they have been successful in opening up new branches across the country due to the application of a low pricing strategy. Many clients have left other robust clothing sellers to grab Primark's disposable fashions (Ortega & Okechukwu, 2017). The tool has also revealed that the tendency to keep to the highly dynamic clothing trends has made specific clients view it as unethical. Thus, the need to introduce downside fashion brands has become necessary in any business expansion plan. Also, the tool was used in identifying the opportunities that would be prioritized in expanding operations. The analysis identified the rising obesity growth in Primark UK as an opportunity for catering for plus-size consumers in their production (Ortega & Okechukwu, 2017). Finally, the strategic tool has identified the significant threats that Primark UK may face in the attempt to meet the objectives. SWOT analysis marks the Brexit saga as a serious upheaval for any implementation plan of the company. Therefore, it means any new operational plan must depend on how the saga develops.

Assessment of how the Strategic Tool is affected by different Strategic InfluencesImplementation choice should consider multiple environmental factors to enable the presentation of accurate pictures of particular market trends. Besides, they are necessary for understanding the magnitude of business to identify primary considerations in any implementation process regarding the company's stance. Certain environmental factors alongside organizational reviews influence SWOT Analysis as a strategic tool. For instance, environmental factors like the political situation can impact the choice of implementation by altering the opportunities within a particular business line (Keller et al., 2017). An example is the case of Primark UK, where the Brexit saga has interfered with the economy of the UK hence lowering the number of clients (Ortega & Okechukwu, 2017). Besides, internal relationships as an environmental factor may affect the choice of implementation by posing newer weaknesses to the organization changing the strategic tool to be used.

Similarly, the organizational considerations also influence the operation of SWOT Analysis as a strategic tool. For example, if the organization deals with international products, the most appropriate vital tool to apply in any implementation process is the PESTEL Analysis. It is because the tool gives various considerations that are necessary to keep business activities at particular standards as compared with others across the globe. Therefore, companies like Marks & Spencer in the UK would use a different strategic tool since they have global coverage. Thus, the PESTEL Analysis would be the most appropriate for it as it considers the legal requirements for any implementation. For instance, the effectiveness of Workplace Pension legislation in Europe would only be identified by using the former strategic tool. It only through the particular strategic tool that they can realize the impact of the three percent pension contribution to cater to the eligible British workers in various regions of operations. On balance, every strategic tool to be applied is affected by different strategic influences.

The Usefulness of the Strategic Tool to a Practitioner and Independent Scholar

As a practitioner, SWOT Analysis as a strategic tool helps in understanding the business better so that I can deal with all emerging issues accordingly. Since it identifies the opportunities, I would use the vital means to maximize so that the business could remain successful. Besides, the tool will assist me in deterring potential threats that I may experience in any implementation process. Therefore, as a practitioner, I would find it easy to develop realistic business goals along with the strategies while achieving as per the expectations.

As an independent scholar, the strategic tool will assist me in developing a clear picture of the operational framework that would be applicable in any future implementation plan. It will, therefore, impact my strategic leadership competencies by equipping me with the critical insights which are necessary for any implementation plan to keep the business activities successful. SWOT Analysis, therefore, possesses a significant role in shaping the strategic leadership skills of any independent scholar.

For example, the strategic tool has been applied by companies like Nordstrom in the United States of America to address two-sided factors by the practitioners to keep the business activities moving (Remane et al., 2019). Factors like conducting an assessment of strengths and weaknesses or both have been factored in. For instance, the strategic tool tends to explain the fundamental reason why the company may have various prominent distributor points across the world, but leasing dormant stores is an excellent issue considering the business projections.

References

Keller, F. H., Daronco, E. L., & Cortimiglia, M. (2017). Strategic tools and business modeling in an information technology firm. Brazilian Journal of Operations & Production Management, 14(3), 304-317. https://bjopm.emnuvens.com.br/bjopm/article/view/308

Ortega, A. M. G., & Okechukwu, C. U. U. (2017). Strategic means to launch business-Primark in Denmark. https://rucforsk.ruc.dk/ws/portalfiles/portal/60866619/

Remane, G., Hanelt, A., Tesch, J. F., & Kolbe, L. M. (2019). The Business Model Pattern Database: A Tool for Systematic BMI. In Business Model Innovation in the Era of the Internet of Things (pp. 89-144). Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-319-98723-1_5