An Essay About Strategic Planning: SWOT Analysis and Goal
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Strategic planning within organizations provides a plethora of benefits to the organization including meeting goals specified in the plan and contributing to the long-term success of an organization. Refer to Exhibit 8.3: The Strategic Management Process, located in Chapter 8 of the Management textbook.
For this assignment, select either your own organization or one you know enough about to complete a series of assignments related to strategic planning for a proposal you would like to implement. The same organization will be used in the following assignments:
Strategic Planning: Strategy Map (Topic 4)
Strategic Planning: Action Plan (Topic 5)
Strategic Planning: Communication Plan (Topic 7)
Strategic Planning: Evaluation (Topic 8)
Strategic Planning: Presentation (Topic 8)
Once you have selected the organization, identify a strategic goal through preforming a SWOT analysis within your sphere of influence. For example, if you are not currently in a management or leadership position, it is acceptable to focus on a more focused area of your organization you are currently in a position to impact. If you are a classroom teacher, perhaps you see opportunities for improving access to technology in your district. If you are a nurse, perhaps you see opportunities to improve communication processes in your department, etc.
A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a strategic plan. Be sure to follow the criteria for effective goals as illustrated to Exhibit 7.5, located in Chapter 7 of the Management textbook.
Complete a SWOT analysis using the "SWOT Analysis" template. Using the SWOT analysis results, develop at least one strategic goal. Submit both the completed SWOT analysis document and the strategic goal.
APA format is not required, but solid academic writing is expected.
You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.
https://lc-grad2(dot)gcu(dot)edu/learningPlatform/content/content.html?operation=viewContent&contentId=ad25a0d3-4d6d-47e0-8f94-a67b44036256
Read Chapters 7 and 8.
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Strategic Planning: SWOT Analysis and Goal
SWOT analysis is utilized in measuring the threats and opportunities that a given organization faces, as well as the company’s weaknesses and strengths which are internal to the business (Poole, 2013). Threats and opportunities are external to the company (Verboncu & Condurache, 2016). The selected company is LongHorn Steakhouse restaurant situated in Houston, Texas. The restaurant is a family business. This paper provides a detailed SWOT analysis for LongHorn Steakhouse restaurant. Strategic goals for this business organization are also developed. The SWOT Analysis template is utilized in carrying out this analysis.
Strengths
LongHorn Steakhouse restaurant is the closest restaurant to the train station in Houston, Texas inside an upmarket mall and gets many customers.
High-quality food and beverage offerings are provided by LongHorn Steakhouse restaurant. These offerings exceed those offered by other restaurants in Houston in terms of price, presentation, as well as quality. The restaurant does a lot better than other companies in this area.
The restaurant offers culinary training which has given it an advantage over other restaurants in Texas’ restaurant industry. This a unique capability that LongHorn Steakhouse actually possesses.
LongHorn Steakhouse restaurant has a history of more than 30 years and many other companies consider this to be a key strength for the restaurant?Weaknesses
The restaurant has a limited marketing budget for developing its brand awareness.
The menus of this restaurant need to be updated. The competitors have updated their menus while the ones used by LongHorn Steakhouse are still dated.
The restaurant lacks brand awareness
Lack of customer loyalty as there are few repeat customers. This is a crucial area that can be improved at...
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