One of the challenges of business—and life—is planning for an uncertain future. We introduced the concept of contingency planning previously in the course. In this module, we discuss a related process—environmental scanning—and how to incorporate this concept into the strategic planning process. In this assignment, you will briefly summarize the SWOT framework and develop a SWOT analysis for a business of your choice.
Please view the video click here: Starbucks SWOT (CTRL + click will open in new a tab) to get an example of how your product SWOT should look.
Your Task
Review the Common Frameworks for Situational Analysis section of your course to familiarize yourself with each description of the SWOT
Briefly (in one paragraph) summarize what the SWOT framework is and why it matters.
Below your paragraph, develop a SWOT analysis of a specific business or product you are familiar with and that includes at least 3 factors in each SWOT category.
Strengths
Weaknesses
Opportunities
Threats
Identify the business’s main competitors. Explain how the business differentiates its product or service from those competitors’ offerings. Identify its competitive advantage. Do you think the advantage is sustainable? Why or why not? (One paragraph)
