Exam Q 3 Essay Example | Topics and Well Written Essays - 750 words

Exam Q 3 - Essay ExampleThese methods include thrum analysis, Porters five forces, and balanced scorecard.The SWOT analysis is an evaluation method that can be used by a privately owned food manufacturing company to help in the identification and prioritization of both the internal and external impacts that reckon it. Strengths and weaknesses show the internal factors that may affect a business enterprise while weaknesses and threats are external factors (Sun, 2012). The company testament develop strategies to make use of its strengths and opportunities, and eliminate its weaknesses and threats. The company will prepare a list of these areas that will later be evaluated to determine the top contributing factors for on the whole of them. The SWOT will help the company to be aware of all the factors that may affect strategic planning andmaking decisions.Strengths and Weaknesses refer to the resources and experience that are available to the company. The company will be in a posit ion to identify its fiscal resources (income and investments), physical resources (facilities and equipment), and human resources such as software systems (Sun, 2012). SWOT analysis helps the company identify the external forces that influence it. The external forces include economic trends, demographics, policy-making stability, and economic regulations.The Porters Five Forces will help the company to identify where it powers lies in a given situation (Grants, 2012). The company will be able to run across the strength of its current competitive position, and the strength of a position it considers moving into. The analysis argues that there are five forces that decide competitive power in a situation. The five forces are (Grants, 2012)Supplier Power The Company will evaluate how it is easy for suppliers to set prices. The price is directed by the number of vendors of all inputs, the exceptionality of their products, and the