Strategic Management Tool at Sun City
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Strategic Management Tool at Sun City
Sun City Boards can deal with their management challenges by using SWOT analysis. SWOT-analysis helps in finding general solutions in management. The tool guides the organization from understanding issues at a general view to a specific viewpoint. The tool provides the organization to identify with the negative and positive aspects of the external and internal environment of the organization. The tool helps an organization to realize their opportunities and come up with measures that takes advantage of the opportunities. Strategies that help in differentiating an organization from its competitors are identified using the model.
The SWOT analysis tool comprises threats, strengths, opportunities, and weaknesses. Determining strengths will help Sun City to identify with its strong points. Strengths are either intangible or tangible attributes (Gürel & Tat, 2017). Strengths are internal to the organization and give the business a competitive advantage in the market. Suncity will identify the areas where they should capitalize on to become more competitive. The other variable in SWOT analysis is Weaknesses. The Weaknesses identify areas that the business should work on to ensure improvement. Suncity can use customer feedback to get an idea of areas that need improvement. Other market players can aid in identifying Sun City’s weaknesses. Opportunities are the third variable that the SWOT analysis tool measures. Opportunities represent a firm reason for existence and development (Helms & Nixon, 2010). Opportunities are presented by a change in government policies, change in regulatory or competitive circumstances among other reasons. The tool will help Sun City to identify its opportunities, therefore, growing its market share. It is important to align the opportunities with the weaknesses and strengths of the organization. Threats are factors that the business does not have control of. Threats can include technology changes, slow growth of the market, or an increase in buyers’ bargaining power (Phadermrod Crowder & Wills, 2019). Sun City should ensure they do not deviate from their vision because of the treats. Instead, the business should implement strategies such as product differentiation to avoid adverse effects from the threats.
References:
Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).
Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis–where are we now?. Journal of strategy and management.
Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-performance analysis based SWOT analysis. International Journal of Information Management, 44, 194-203.