The Strengths And Weaknesses Of Swot Analysis

The Strengths And Weaknesses Of Swot epitomeThis store which was receiven as Block Quayle, and was later abbreviated to BQ. This briny store later developed and spread across the UK by 1979 in that wish were 26 stores in United Kingdom. During this flow, the first of the co-founders already left the business. They umpteen(prenominal) left the business in 1976 and 1982 respectively.BQ sprung up very well during this period through and through business combination methods which invariablyy(prenominal)ow mergers, acquisitions and expansions. In 1980, BQ bought oer the Scottish comp whatsoever Dodge City, and was itself acquired by F. W. Woolworth Company. F. W. Woolworths UK subsidiary (Woolworth) and BQ were bought, two years later, by Paternoster, who argon now known as Kingfisher plc and atomic number 18 still BQs rise up company.OBJECTIVEThe objective of this redact is to produce a proposal on a b ar-assed interpret that an brass instrument is to a greater ext ent than or slight to offset printing. The pursuance atomic number 18 the objectives to be reachdThe title and nature of the fuddle.The business case and tangible come out of the closetcomes of the objectify.militant advantage of the organisation.1.1 THE TITLE AND NATURE OF THE get wordBQ is prep an expansionary put which is the fundamental law of five (5) more than(prenominal) stores in the country of Ireland. This impart bring the human body of its stores in Ireland to fourteen (14). These stores as intend would be in the central areas and in the interior so as to neat the requirements of its customers and similarly speech the store closer to the customers.This devise would involve a considerable finance base as it is a forecast pass judgment to be go offd deep down iodin (1) year. The vigilance is looking into the various ways of getting finance to carry out this project in effectuate to improve the run of the company.THE BUSINESS CASE AND TANGI BLE OUTCOMES OF THE PROJECTThe start of project direction starts from the winding industry. This day there are quite an a split of project management requirements which are even more outside the winding industry as project pauperisms skitter across every business segments. Current bodily structure firms now uses a unfermented model of project management, apply visual equipments and software to patron in managing the movement of materials delivery and consumption a considerableside equipment usage.This project lead bring or so numerous clears in addition to the existing benefits of and in the organisation. Amongst this includesIncrease in profitability.Shareholders wealth would increase and there would be more income to put in for more dividend and expansionary growth in the company.Value of shares may increase as there would be more sales.Creation of suppose opportunities.Achieving the objectives, goals and vision of the organisation.A better local environmentAn inc rease in access to select local spacesAn increase in citizenry actively involved in a practical environmental projectAn amelioration in partnership mingled with support organisations, communities and authorities.1.2 OVERVIEW OF THE PROJECT PROPOSALBQ is planning an expansionary project which is the establishment of five (5) more stores in the Republic of Ireland. This go out bring the number of its stores in Ireland to fourteen (14). These stores as planned would be in the central areas and in the interior so as to meet the needs of its customers and likewise bringing the store closer to the customers.To effectively meditate the viability of the project, B Q need to examine its SWOT (strengths, weaknesses, opportunities and threats) and to a fault using PORTERS cardinal FORCES to examine the achiever of the project.SWOT ANALYSIS OF BQSWOT is a jibe which is use in strategicalal and merchandiseing psycho abstract of a business. It put up be used to confirm the level o f readiness and concourseity between the organisations strategies and its business environment, and to find ways in which the organisation give the gate apply its strengths to railmate its weaknesses while it uses its opportunities to checkmate its threats (Adams, 2005).StrengthsStrength determines the capability of an organization. The strengths of BQ prevarication in its ability to provide the desired goods of its customers at relatively cheap prices and at the same beat quality goods. BQ is widely known for the quality goods it sells to various customers.WeaknessesThis determines a companys weaknesses. This should be not only from its own point of view, exactly also more importantly, from those of the customers. BQ has received quite a lot of complaints from customers about the prices of its goods which according to the company is as result of the quality of the materials used in the production. However, compared to some of its competitors it still has a better bar net prof it price for its products.OpportunitiesOpportunities are everywhere, such as the sorts in technology, government policy, social patterns, and so on. Opportunities for BQ lie in the structure of the general marketplace segment and its environment. The world market and individual with corporate needs enormous for BQ to see and utilise the opportunities at its disposal. Having the financial strength and the assup of major s government issueholders to open up more branches in strategic locations is an opportunity to the organisation is an puddleer(a) sense of opportunity for BQ.ThreatsThreats expresses the weaknesses and incapacitation of an organization. It entails those fears which the company may be nursing and which could affect the company haphazardly. separate of BQs threat is their competitors in the market that chamberpot win over some of their customers. Also here is the threat from suppliers and others.PORTERS FIVE FORCES ANALYSISFive Forces digest will help BQ to contr ast a competitive environment. It has likeness with other tools for environmental analysis, such as PESTLE analysis, but tends to focus on the champion, stand al iodin, business or SBU (Strategic Business Unit) rather than a single product or range of products.Bargaining Power of SuppliersThe term suppliers include altogether sources for inputs that are required so as to provide goods or services. Supplier bargaining power is likely to be blue in BQ whenIn such situations, BQ will face a risque extort on margins from their suppliers. The relationship to powerful suppliers evoke potenti completelyy reduce strategic options for the organization.Bargaining Power of CustomersCustomers of BQ bargaining power is likely to be proud when there are substitutes to the products in the market, much more when the substitutes are of more or same quality than that of BQ.Threat of New EntrantsBQ will also keep up threat of new retailers in the store. Every irregular in the market there come s in new set of sellers which decidedly will share the market with the existing sellers in the market.Threat of SubstitutesConsumers each(prenominal)(prenominal) have different taste and can change from the use of one item to the other. Substituted items definitely will cause a loophole in the market which have been dropped, therefore, BQ may face the challenge of its products being substituted for another.Competitive competitor between Existing PlayersMichael Porter (2005) also explained that in a noncompetitive or general open market where there exist many sellers especially of the same product there would exist rivalry which can affect the market sales and profitability at the other end.1.3 rivalrous ADVANTAGE OF THE ORGANISATIONThis is seen as the benefit a company has over its rivals in the market which can be with its ability to outshine its competitors in the market/industry.BQ have a competitive advantage when it has the strength or ability to over fold its rivals in g etting the face of customers. This applies to both services and products.Michael Porter (Theory of Management) (1990) explains that, though not all nations are at the notice of competition, the home nation which shapes the competitive advantage is the starting point for a firms competitive advantage and also from which it moldiness be upheld. Therefore, BQ has a lot of competitive advantages which made it a leader in the market. It should be plight in account that competitive advantage can be checkered to one of three forms Superior resources, superior skills and superior positions.TASK 22.0 INTRODUCTIONProject Management is about organising and managing resources in a form that they deliver the desired mind to complete a project within the agreed scope, quality, and clock metre and hail cons holdts. It covers the planning, supervise and control of the project as well as the pauperization of those involved in order to achieve the project objectives as set.Each project is pa ss judgment to have a Project Manager to maintain project progress and integrate stakeholders to grant sure that the risk of failure is reduced and also to intimate the m on the progress of the project. As a successful project conductor you must be able to visualize the project from beginning to remainder and to have the ability to ensure that this vision is achieved.The following are the methodologies which can be used in common principles to manage a project development gear up the project elaborateInvolve the right pileEstimate the resources, meter and costsBreak the project into manageable sectionsDefine how change will be managedAgree on performance/ bridal criteriaOBJECTIVESThis task is to cover some areas in this project which are as listed belowTo identify all resources required for the project and the benefits to the organisation.To identify all costs associated with the project.To set up a budget for the project.To carryout costs benefit analysis for the project.Staff development and educate costs.2.1 REPORTFROM Management advisorTO Board of Directors/ManagementDATE 22nd July, 2010.SUBJECT RESOURCES REQUIRED FOR THE PROJECT ESTABLISHMENTINTRODUCTIONBQ with its quest to satisfy all their customers by bringing services closer to them has decided to build more stores in the Republic of Ireland as this will also improve the profitability of the entire business.This is a project which will definitely require the company to establish a technical committee on the ca-ca to be make as this will require a salient sum of investment for the success of the project. The budget memorialise that the total sum 15 million would be required. However, to furnish the stores with the items for sale would be handled by the procurement department and so the cost for this transaction is not included.The analysis of the 15m cost plan (budget) is as followsContract sum (2.5m x 5 stores) 12,500,000Planning service cost (for the 5 stores) 1,500,000Training cost (recru itment re raising of existing mental faculty) 500,000Other cogitate cost 500,00015,000,000SOURCES OF RESOURCESThe resources that would be required as clearly stated higher up would be financed by partly bank borrowing and partly using part of the banks investment income from the re military service.Noteworthy is the fact that the contract sum as mentioned above would be paid to a mental synthesis contractor. The amount qualify above represent the contract sum quoted by the building contractor.The train cost would be paid to PWC consultants for the learn which will be in two phases one for the new recruits that would start shit in the new stores after the close and some of the present staffs that would be transferred to the new sites. The study cost is as followsFacilitators (one year contract) 400,000Refreshments (1 week) 20,000Training materials 10,000Accommodation for trainees (Scheduled quarterly) 50,000Transportation expenses 20,000500,000 bell BENEFIT ANALYSISA cost benefit analysis is do to determine how well, or how poorly, a planned action will work on out and how this would be applicable to BQ. Although a cost benefit analysis can be used for almost anything, it is most commonly done on financial issues. Since the cost benefit analysis relies on the add-on or minus of financial issues concerning a project to determine a net result.A cost benefit analysis finds, quantifies, and adds all the unequivocal factors. These are the benefits. Then it identifies, quantifies, and subtracts all the negatives, the costs. The difference between the two indicates whether the planned action is advisable. The real trick to doing a cost benefit analysis well is making sure you include all the costs and all the benefits and properly quantify them.To achieve this, I will use the reach back period to check the time the project would pay back as there is a policy in the company that any investment that would not be recouped within the first five years of es tablishment will not be seen as being feasible. The inflows are projected inflows for the new stores as a group i.e. the stores would be analysed jointly not individually.Year Cash flow Balance 0 (15,000,000) (15,000,000)1 2,500,000 (13,000,000)2 3,175,000 (9,825,000)3 5,220,000 (4,605,000)4 6,725,0005 6,875,0003 + 4,605,000 = 3 + 0.6856,725,000= 3years, 7 months.From the above, the project would have a pay back period of less than 4 years which according to the policy of the company, the project is seen to be viable as the pay back period is less than 5 years.2.2 provide TRAINING AND DEVELOPMENTWant to keep atoms of staff motivated about culture new ideas, the quality and variety of the employee training provided is major for motivation for consideration. Whatever the reason for conducting an employee training session, there is need to develop the employee training within the framework of a comprehensive, ongoing, and consistent employee training program. This quality employee training program is essential to keep the staff motivated about learning new concepts and your department profitable which definitely will help in the new outlets to be built by BQ. This training will serve the new and existing members of staff.Beneficial Components of Employee Training SkillsTo make a complete training of employees either new or existing staffs, there need be a balance with the companys expectation about the employer and the expectations of the employees. This training will give a detailed understanding on how and what the company is all about, individual and general expectation of both parties at the short and long run.New Hire TrainingThis has to do with training of new recruits in the organization. They are new employees that need to understand the priming, rules and norms of the organization, either with or without foregoing experience in a related short letter exposure.On the phone line TrainingMany organizations make good use of this system to train staf fs. On the job training is so essential and can be seen as a continuous system of training for employees. During the course of the job, new styles of work are being learnt which help to progress more on the job being carried out. This involves the supervisory and the operational level of work. Managers go round out during the course of work or work colleagues who are more experienced are used to train the especially the new recruits.(http//humanresources.about.com/od/coachingmentorin1/a/trainmotivation.htm)However, for this project, the type of training that would be used is contracted to PWC consultants. This is to prepare the staff ready for the new stores when they are realised in the Republic of Ireland. The training cost has been analysed above.TASK 33.0 INTRODUCTIONImplementing strategy needs more strength and it requires effort for a lot of organizations, knowledge from emotional feedbacks on time during the execution swear out, which shows the impact of any force placed alongside the quest for the use of strategy which would lead or give the basis for the realization of strategy for proper implementation. Many businesses fail to achieve strategic objectives of the organization as highlighted at the planning gunpoint of the company because they do not successfully attach operations with goals. Effective communication among all stakeholders is critical in jumping this critical issue.The performance gap pull between strategy creation and benefit realization is frequently a companys inability to put in place the strategies they define. Potential hazards may be grouped into four basic categories Clarification, Communication, Alignment and Measurement.The above mentioned issues would be discussed alongside the milestones to be put in place to achieve the implementation of this project by BQ in the Republic of Ireland.Thus must emphasis would also be laid on the involvement of stakeholders in the achievement of this project.OBJECTIVES employment suita ble tools and techniques to plan the implementation of the chosen projectDevelop a milestone for the project.Analyse the involvement of stakeholders in the implementation of the project.Develop a set of measure that would enable you monitor lizard and evaluate progress of the project and ensure relevant feedback procedures have been put in place to maintain stakeholders of the projects progress.3.1 MILESTONE FORT THE DEVELOPMENT OF 5 STORES IN THE REPUBLIC OF IRELAND BY BQ.Many managers during the course of project management would think projects would be snug completion from information given to then by subordinates and or people working with then and only to find that project over-runs by weeks or even months more than expected. This is because the last part of the work takes longer than planned.If youve ever been in this situation and have been affected by this disturbing situation, then, youll know wherefore experienced managers carefully monitor how veritable completion da tes canvass against planned completion dates at certain milestones within projects. This gives the managers room to take corrective action, or manage peoples expectations appropriately, and this is where Project Milestone Reporting becomes on the face of it important.A real life milestone is a table that tells you how outlying(prenominal)thermost you are from a certain point so you know how far you have come, or how much effort you have to put so as to reach your realization goal.Project Milestones perform exactly this enjoyment in a project plan. They mark significant events, deliverables or interdependencies that need to be monitored to keep the project on track. Project Milestone Reports show you what has been achieved and what else needs to be done to successfully complete your project.The milestone for this project is reflected in the table belowISSUESEXPLANATIONSThe project in focusThe project in focus is the construction of five (5) more stores for BQ strategi jawy in the Republic of Ireland.Construction site.Development plan has been received in respect of the construction from the government for the development which will be at strategic locations in the country.Quality measuresThe quality of materials to be used for the construction is model checked and guaranteed materials for the building.Target dateThe project is expected to span through twelve months as it is handled by the same contractor and would be time effective during the construction.The above represents the milestone that would serve as guide to the construction of the projects. However, the stakeholders of the company would also be involved in the development stop.This can also be represented using the Gantt Chart.ISSUEEXPLANATIONS20102011JAN.- JUNE.JUL.-DEC.JAN.- JUNE.JUL.-DEC.The project in focusConstruction of five (5) more storesfor in the Republic of Ireland.construction siteDevelopment plan has beenreceived in respect of theconstruction from thegovernment for the developme ntwhich will be at strategiclocations in the country.Quality measureThe quality of materials to be usedfor the construction is patternchecked and guaranteed materialsfor the building.Target dateThe project is expected to spanthrough twelve months as it ishandled by the same contractorand would be time effectiveduring the construction.3.2 STAKEHOLDERS INVOLVEMENT IN THE PROJECTA stakeholder is someone who has something to gain or lose in the result of a planning of process or project or business. These are known as engross groups and which have a powerful bearing on the outcomes of business dealings. It finds ordinarily beneficial for research projects to analyse the needs and concerns of different stakeholders, particularly when these projects are set out to achieve a particular goal.Stakeholders, who have high interest and high power with the project, are the organisations or the people are generally fully engage with it. At the time of policy change or new campaign these people are target. Decision makers are on top of power list which are normally member of government. After that there are opinion leader whose opinion matters. This creates profit which known as influence map.Stakeholders with low power but high interest need to be updated all the time, and if they are properly arrange they form coalition which can lobby for change. If these people are at ease they are the main supporter at the time of policy change.If time and resources permits, detailed analysis can be carried out which give detail knowledge of (i) the nature of the power and its position and (ii) the interests that give it that position. By doing this one can get the better t understanding of the project that why people take certain stands and how they can work together.The net stage is to create a strategy for how to involve different stakeholders in a one project, how to distribute information which is useful to them, and maintaining a relationship with them. advert who will mak e each contact and how, what message they will choke and how they will do the follow-up and most importantly who will do that that how they will do.The diagram above represents the level of the stakeholders of BQ. The following are the major stakeholders of the companyThe investors (shareholders)The customersThe suppliersThe creditors/debtorsThe governmentThe competitorsThese represent the summary or compressed variation of the companys stakeholders. All the stakeholders would be kept abreast of the happenings in the organisation so as to be able to achieve a successful implementation of the project.3.3 PROJECT IMPLENTATIONMost projects share a common life roulette wheel as seen in the project of BQ.Define(1. Initiation)2. PLANThe project murder(3. Executing)(4. Controlling)MONITORADJUSTEVALUATE(5. Closing)CELEBRATE(Sourcehttp//informationr.net/ir/8-1/paper144.html)MonitoringAs the project managers of BQ will start this project, they will need to develop a work schedule for the m any activities that would be done and would be expected to monitor the project from the start i.e. the initiation period down to the completion of the project as this will aid the success of the project.Managers of BQ need to check the time table written or built for this project so as to have a good grip on the monitoring of the project. They also have to consider the budget and the resources available for the completion of the project.In order to have a successful project monitoring the following should be consideredThe use of the set up note for the project to monitor the growth of the project.Checking on the plan time table regularly.Quality must be checked and emphasized on.Progress should be checked on a regular basis.The full involvement of managers and project supervisors.The project time table should be followed regularly to avoid drift from the original plan.Changes during the construction should be communicated to the members of the team.Reasons why project should be mon itoredTo check planned work to actual work done.To know level of job completion.To know the quality of work done.Compare budgeted cost to actual spending.To check on attitude of everyone involved in the project.To know the level of commitment given in by team members.Ways to express the project development events glob and informalFormalReports take of job completion form/reports should be completed by all those involved so that progress and problems that occurred during the project work can be identified on time. Audits are used mostly to identify these issues when they arise.Project review meetings Meetings should be carried out by the managers and the project managers with the management so that periodic review could be carried out on the project so as to know the level of job completed and the requirements needed by the rest of the area not completed in the building of the project.InformalInteraction with the members involved in the building project.Involvement of the other stakeholders of the company.Strict observation during the project design.Reports and guidelines for small and large projects to be used for the BQ projectActionDailyWeeklymonthlyQuarterlyInformal fundamental interaction with membersSmall liberalStaff interaction with managersbothMeeting to review projectSmallLargeLevel of work reportSmallLargeProject auditLargeTeam development practiceBothFinal report to the directors/mgt.BothSIMPLE FORMS TO CREATE USEFUL REPORTS (THE FINAL REPORT)The terminal report is a form of writing that deals on the whole history of the building work carried out during the designated period of time. This has to do with keeping of record of the initial stage build ups, every action that took place during the course of the project and the final report.Schedule on informal meeting with key players is important as to know their opinions and ask them about the project and what they would do next time.The final report of the project can be written using the form format written belowSummary of the project to include revisions to the original project planSummary of major successes achieved.Analysis of planned requirements to actual achieved.Final financial analysis considering the difference that exists.Evaluation of administrative and management issues.Team performance should also be included in the report. some(prenominal) other issue that require further investigationRecommendations on the project which can be used as a guide for the future. identification of all those involved in the project work.CONCLUSIONProject development is important and requires the development of end-to-end concepts forThe construction of any project especially the construction of the stores for BQ in the Republic of Ireland which is part of the developmental plans of the company and as this will improve the profitability stage of the company. The reason for asset management is to maintain a ful set of investments, properties and fund which will in turn help in max imising the wealth of the shareholder. In property management, the concern of improving the status of the company so as to achieve loot for the business which would be carried on in the building as expected to be done by the management of BQ. This is a big organisation that has a great investment and any further investment that would be made would require the involvement of its major stakeholders. The extension would definitely call for an improvement in the state and status of BQ in the Republic of Ireland and as well the profitability of the company as a whole.