Please use the company and describe how you would apply SWOT analysis in the com
ID: 458483 • Letter: P
Question
Please use the company and describe how you would apply SWOT analysis in the company created. Please write for each one and the company is charitable organization, Example : make a wish foundation
1. Strengths of your new business (discuss the need and why you are entering this industry)
2. Opportunities involved in your new business (what other areas you can venture into once your business has become successful.
3. Weaknesses of your business (what will cause you to experience the most difficulty in your new business)
4. Threats to your business (what other competitors could affect your business and what other potential products could affect your business.
Explanation / Answer
1. SWOT stands for strengths, weaknesses, opportunities, and threats.
2. SWOT analysis involves identifying your business’s strengths and weaknesses, and examining the opportunities and threats.
3. SWOT analysis can be used to analyse your organisation and its environment.
To carry out a SWOT analysis effectively, we consider each of the four SWOT areas, and make note of all the ideas, suggestions and comments which are made. These can be reviewed and edited after the brain-storming session.
Analysis for the nonprofit has no investors or return on investment to consider, but it has to weigh factors such as fundraising, volunteer staff and goodwill that a commercial firm does not.A small nonprofit organization should use it to plan financial development (fundraising) as well.
Strengths
Charitable organizations have some strengths that commercial companies. For one, These usually are tax exempt. They can offer products at a discount since they don't have the expense of taxes, and sometimes they can offer products to buyers who pay no sales tax on the purchase.Charitable organizations often have a volunteer staff in many roles; artists, canvassers, attorneys. Volunteers can mean an enormous savings to the business, which is particularly important to a small nonprofit.
Weaknesses
Most charitable organizations barely cover their expenses with revenue. They can't match the salaries of their for-profit competitors. Charitable professionals typically are more focused on job satisfaction as compensation, particularly in small companies. An entrepreneur will have no opportunity for return on investment and often can expect a minimal salary. The budget problem also may be evident in purchasing from suppliers. Small Charitable organizations are especially vulnerable to budgetary deficits and need to husband their endowments.
Opportunities
Any grant that a charity may be eligible for is an opportunity. A grant may be from a government or private agency or group. There are many grants being offered even during a recession. Finding them and applying for them is a considerable task. Charitable organizations often enjoy alliances with other organizations and commercial business or other NGOs. Cause marketing, for example, is a system in which a portion of the purchase price charged by a commercial business is donated to a specific charity. Ideally, it offers benefits to both organizations, as well as to the buyer, whose charitable giving is facilitated.
Threats
Charitable organizations are very vulnerable to economic crises. Unfortunately, charitable giving is one of the first cash outflows that consumers cut back on when money is tight. Public charities are held to a higher standard than for-profits. Since they depend on contributions, nonprofits need to avoid the perception of impropriety. Even a small scandal can be damaging.