Human Resources Chapter 1&2 Business & Marketing Essay

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April 13, 2020
1 SWOT Model
1 The SWOT model is one of the most commonly used models in planning and strategizing for corporations and organizations. On the one hand, Strengths and Weaknesses, refer to those factors that are within the control of the company. Thus, strengths could be further improved, while weaknesses can be addressed. On the other hand, opportunities and threats refer to those that are external and uncontrollable by the organization. These remaining parts of the model allow the organization to plan contingencies and maximize possible opportunities for growth.
2 Porter’s Five Forces Model
2 Porter’s Five Forces Model is a model that is based from the assumption that the market is influenced and shaped by five main factors, namely (1) industry competition, (2) potential of new entrants, (3) suppliers’ power, (4) customers’ power and (5) threat of alternative or substitute products. By considering these five factors and strategizing on how to maximize or prevent them, any...