SWOT – Strengths, Weakness, Opportunities, Threats
SWOT, an acronym for strengths, weaknesses, opportunities and threats, is a method used to analyse an organisation’s strategic position by reviewing its internal environment (strengths and weaknesses), as well as it’s external environment (opportunities and threats) (Robinson & Pearce, 2013).
Strengths
A strength is defined as a resource or capability that gives an organisation the competitive advantages in meeting its customers’ needs as opposed to its competitors (Robinson & Pearce, 2013). This strength could be in
With reference to the case study, the first strength of ParentCare Pte. Ltd. which publishes the FamilyFun magazine lies in its journalistic team. As the journalists are all …show more content…
Ltd, we would need to take into consideration the purpose of the strategy, and well as the decision to focus on internal or external environment for growth and profitability.
With reference to the review of the organisation’s strength as the only magazine of its genre to provide alternative perspectives of fathers, ParentCare Pte Ltd should apply the differentiation and focus strategies to establish its market position as the leading magazine of the genre. Through a combination of market and product development, the magazine will be able to achieve market penetration and reach out to new customers with its existing products.
According to a study (Digital Influence Lab Pte Ltd, 2015), Singaporeans aged between 25 and 34 takes up majority of the internet users in Singapore at 31%; the same study also found out that each Singaporean owns an average of 3.3 devices. The magazine can thus develop a web, or mobile app version of the magazine as a mean to increase distribution channel and to reach out to new readers who are technology-savvy. Also, considering the lean manpower of the organisation, the firm should outsource the project of market and product development to external companies who have the expertise in this …show more content…
Barnes & Nobles, the giant bookstore company, launched its own e-book reader, the Nook, as a response to the increasing popularity of reading on a digital device (Stack, 2014).
Similarly, ParentCare Pte Ltd can learn to embrace the threats and turn the tides in its favour. Despite the editorial team’s concern that content quality may be affected with the engagement of bloggers, business model can be adjusted such that the bloggers will only be involved in certain content, such as advertorials, or to write as guests columnists instead of regular contributors. This would help to attract new readers who are fans of the bloggers, and also attract advertisers who wishes to use bloggers in their advertising plans.
Organisational leaders should be able to embrace changes, and to prepare and guide the organisation through these changes (Robinson & Pearce, 2013). To help the employees adapt to changes, the leaders should set a clear direction of what kind of results the company strives to achieve. This would require enormous effort of the company to focus on the vision and set the performance
SWOT, an acronym for strengths, weaknesses, opportunities and threats, is a method used to analyse an organisation’s strategic position by reviewing its internal environment (strengths and weaknesses), as well as it’s external environment (opportunities and threats) (Robinson & Pearce, 2013).
Strengths
A strength is defined as a resource or capability that gives an organisation the competitive advantages in meeting its customers’ needs as opposed to its competitors (Robinson & Pearce, 2013). This strength could be in
With reference to the case study, the first strength of ParentCare Pte. Ltd. which publishes the FamilyFun magazine lies in its journalistic team. As the journalists are all …show more content…
Ltd, we would need to take into consideration the purpose of the strategy, and well as the decision to focus on internal or external environment for growth and profitability.
With reference to the review of the organisation’s strength as the only magazine of its genre to provide alternative perspectives of fathers, ParentCare Pte Ltd should apply the differentiation and focus strategies to establish its market position as the leading magazine of the genre. Through a combination of market and product development, the magazine will be able to achieve market penetration and reach out to new customers with its existing products.
According to a study (Digital Influence Lab Pte Ltd, 2015), Singaporeans aged between 25 and 34 takes up majority of the internet users in Singapore at 31%; the same study also found out that each Singaporean owns an average of 3.3 devices. The magazine can thus develop a web, or mobile app version of the magazine as a mean to increase distribution channel and to reach out to new readers who are technology-savvy. Also, considering the lean manpower of the organisation, the firm should outsource the project of market and product development to external companies who have the expertise in this …show more content…
Barnes & Nobles, the giant bookstore company, launched its own e-book reader, the Nook, as a response to the increasing popularity of reading on a digital device (Stack, 2014).
Similarly, ParentCare Pte Ltd can learn to embrace the threats and turn the tides in its favour. Despite the editorial team’s concern that content quality may be affected with the engagement of bloggers, business model can be adjusted such that the bloggers will only be involved in certain content, such as advertorials, or to write as guests columnists instead of regular contributors. This would help to attract new readers who are fans of the bloggers, and also attract advertisers who wishes to use bloggers in their advertising plans.
Organisational leaders should be able to embrace changes, and to prepare and guide the organisation through these changes (Robinson & Pearce, 2013). To help the employees adapt to changes, the leaders should set a clear direction of what kind of results the company strives to achieve. This would require enormous effort of the company to focus on the vision and set the performance