Some individuals, when faced with a large decision or opportunity, will step back, analyze the situation, and come up with a plan of action. What they are doing is creating a development strategy. Small business entrepreneurs, when faced with generating a strategic plan for their business, are wise to do the same.
XFor this Assignment, you will analyze a small business plan and generate a SWOT analysis. To begin, refer to the SWOT analysis overview in your Entrepreneurial Small Business textbook. Next, select a business plan from the following database in the Walden Library: Business Plans Handbooks (Gale Virtual Reference Library). Be sure that the business plan you select does not already contain a SWOT analysis.
In your 2- to 3-page paper:
Identify the business plan you selected, and provide a concise description of the plan.
Perform a SWOT analysis. See page 261-262 as a reference for the level of detailed information.
Include a SWOT analysis chart/grid with some of the main highlights of your SWOT analysis.
In addition, be sure to address the following:
Based on the outcome of the SWOT analysis, which strategic direction appears best for the business?
Which business environmental factors would affect the company’s success?
Recommend specific strategies the business should take given the outcome of the strategic direction and environmental factors identified. Justify your recommendations.