Strategic Plan: SWOTT Analysis Essay
Strategic Plan: SWOTT Analysis
Manning Solutions opened their doors to customers in the fall of 2012, in Tampa Florida. Its purpose is to aid small companies, whose budgets do not allow them to obligate revenue to staff their own human resources department. Their services include hiring, maintaining personnel records, pay-roll, and complaints to name a few. The mission statement: Provide the highest-class service in human resources business by providing competitive pricing to their intended market audience. Through various marketing techniques Manning Solutions is able to build an extensive clientele.
According to, “What Is SWOT Analysis? Definition and Meaning” (2012), “A situational analysis in, which the internal strengths and weaknesses of an organization and the external opportunities and threats faced by it are closely examined to chart a strategy,” (Para. 1). The SWOTT analysis of the Manning Solutions will explain seven external and internal forces which may affect the organization.
The internal forces being analyzed include processes and systems, technological, and intellectual property, during the implementation of a strategy in a company. Strengths allow an organization to gain competitive advantage by properly using resources and capabilities. Weaknesses limit the company ability to meet customers’ needs and put the organization in disadvantage (Pearce & Robinson, 2009). MCS biggest strengths are the ability to implement, control, and monitor new processes, which have allowed the company to offer quality services in a timely manner. The use of technology is also one of the biggest strengths for MCS. The company counts with a good information system, which has streamlined many processes within the organization, and at the same time, has narrowed the room for mistakes and errors (Mortgage Contracting Services, 2010).
The actions and direction taken by a firm depend on the different factors outside the organization. These external factors, such as the economy, competitors, legal and regulations, and society, constitute the external environment (Pearce & Robinson, 2009). For MCS, economic factors are especially important in determining the organization path. Different trends in the economy must be considered. MCS operates in the real estate market. The company specializes in property preservation and inspection dealing with larger mortgage services as clients. The crisis in the real estate market represented a vast business opportunity for MCS. As the foreclosure rate increased so did MCS business. Homes repossessed by mortgage services must be inspected and preserved in fair to good conditions to be offered back in the market. Every foreclosed home represents the possibility of a new business for MCS.
Another important factor for MCS is the competition. Benchmarking the competition is essential for MCS. The real estate market is a very competitive environment. Establishing good relationship with clients can keep MCS ahead of the competition. MCS offers high quality services in a timely manner, which has made MCS to receive good customer reviews and score higher than the competition on score cards. A disadvantage for MCS is that the company is fairly new compared to the competition and many competitors have very strong relation with their clients.
Legal and regulations are very important factors affecting MCS. Some government regulations can affect MCS by limiting the entrance to other areas of the industry. Changes in regulation are done frequently, which makes it challenging for MCS to maintain its employees and vendors trained in the new regulations. So far the company has complied with the new rules and has implemented these new rules in their regular business operation successfully.
The direction and actions of the company depends on this analysis. A SWOTT analysis of MCS was performed concluding that external forces such as the economy, the competition, and the government rules and regulations have very important effect on MCS strategic planning. The analysis also concludes that MCS strengths and weaknesses must also be taken into consideration when implementing a strategic plan. Strengths such as a good information system, the ability to create processes and make quick improvement to existent processes allow MCS to stay ahead of the competition and be successful. On the other hand, MCS weakness such as insufficient training to employees can become a serious issue and can jeopardize the company relationships with its customers. Analyzing the different factors that affect MCS internal and external environment is essential to create and establish successful strategies.
What is SWOT analysis? definition and meaning. (2012). Retrieved from http://Read more: http://www.businessdictionary.com/definition/SWOT-analysis.html#ixzz1sRg4DDHw Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill. Retrieved August 20, 2011, from University of Phoenix, BUS – 475 – Business Integrated Topics Course Web site.