Conceptualization of Business
Balanced Scorecard Sweet Pea Catering
Sweet Peas Catering Services
Irene Colon
The SWOT analysis is an approach that is usually integrated any mostly involves companies and the environmental surrounding analysis. The process is aimed at ensuring there is critical observations of the processes going on in the company, including the strengths and weaknesses of the organization, in most cases business firms. Opportunities and the threats the organization is exposed to are also analyzed, in a specially structured and integrated manner (Bohm, 2009).
SWOT Analysis for the Sweet Peas Catering Services
Analysis Factor
Expected Outcomes
STRENGTHS
Legality and regulatory compliance-Sweet Peas Catering Service should ensure its compliance to the laws and regulations governing organizations (Business entities) in its location. This is important and mandatory, to mitigate the company from any litigations in relation to the laws provided in the Companies Acts. Complying with the laws provides the company better stance and ability to relate well with the government, and includes crucial elements, such as tax compliance, which is a major income generator for the government.
Economic situations- The company's should be ready to understand the economic trends and prevailing market situations, which count a lot in terms of profit maximization. As the company is in its conceptualization process, there is a dire need to compare its potential, using similar businesses that are already established in the same field. If the organization is the first of its kind, then there are high prospects for risk taking, which is a norm in the business arena. The country's economy should be stable for better chances of great results in business.
Technological issues- with the current globalization rates, technology is important in daily business transactions conducted in firms. Sweet Peas Catering Services should ensure adaptation...
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