Question

Assignment: please complete the SWOT analysis below.

1. Select a business you are familiar with or frequent often - this could be a restaurant or store.
2. Write a statement of what you perceive to be the business's current strategy.
3. From the customer's perspective, what do you perceive to be this business' key strengths and its weaknesses?
4. What do you perceive to be potential opportunities and threats for this business?
5. Draw a grid and plot the strengths, weaknesses, opportunities, and threats on it - see SWOT example below (ignore the content, just an example).
6. Using your SWOT analysis, set a goal of where this business could be in two years in terms of (a) growth, (b) size, (c) new offerings, OR (d) expanded customer base. Select one.
7. What steps do you recommend to achieve this goal?
8. How did your SWOT analysis help you determine the goal and how to accomplish it during the next two years?

Answer 1

answer-

My business is restaurant business which uses currently Combination of cost and differentiation strategy in Niche market because this is restaurant operate in small market like cities or metro cities.under these strategy, restaurant provide fine dining experience at low cost or price to its customers.

SWOT analysis of restaurant-

Strengths of my restaurant are-

My restaurant is a restaurant which offers wide range of cuisines like Italian, Asian, Mexican etc. this restaurant provide good interior where you have comfortable sitting while listening to music and get drinks at bar in the corner. there employees at this restaurant are trained and skilled which offer high quality services and in kitchen it has safety and health regulation for healthy eating.

Weakness of my restaurant -

The employees are highly trained and skilled so company has to pay high salary to them which can be weakness to current strategy of business. The work culture sometime get affected when there are employees competing to win employee of the month award.

Opportunities-

There are opportunities for my business with its current reputation to open new restaurant stores in other cities to expand its business. Company also has opportunity to purchase land to grow its supplies and use them in cooking.

Threats-

the threat to my restaurant is competition from other restaurants like Mcdonalds, KFC, etc. also government regulations like employment laws, food safety laws can affect my business.

I think my business offer too good service to customer and getting huge profit and good response from customers so in two years there are high chances of growth of my restaurant in which i can open new restaurants like open new franchise my restaurant in other citiees.

To achieve this goal, i has to focus on customer satisfaction, provide low cost food by maintiang my supply chain and business operations at low cost and high efficiency. i also do marketing and promotion of my restaurants so that investors can put their money in my business.

This SWOT analysis help me to analyze my strenghts and weakness so i overcome my business' weakness and see opportunity present in market and competitor's strategy and use that in my favor to make my goal clear to grow my business and set time line to achieve this gaol.