The Strengths And Weaknesses Of Swot Analysis

The Strengths And Weaknesses Of Swot AnalysisThis store which was know as Block Quayle, and was later abbreviated to BQ. This main store later developed and spread across the UK by 1979 there were 26 stores in United Kingdom. During this period, the first of the co-founders already left the business. They both left the business in 1976 and 1982 respectively.BQ sprung up very tumefy during this period through business combination methods which include mergers, acquisitions and expansions. In 1980, BQ bought over the Scottish lodge Dodge City, and was itself acquired by F. W. Woolworth Company. F. W. Woolworths UK subsidiary (Woolworth) and BQ were bought, two long time later, by Paternoster, who ar now known as Kingfisher plc and ar still BQs parent company.OBJECTIVEThe objective of this get off is to produce a proposal on a peeled project that an administration is nigh to abrasion. The following are the objectives to be chance upondThe title and nature of the project.The b usiness case and tangible push throughcomes of the project.Competitive advantage of the organisation.1.1 THE statute title AND NATURE OF THE cast offBQ is planning an expansionary project which is the establishment of five (5) to a greater extent(prenominal) than stores in the country of Ireland. This entrust bring the number of its stores in Ireland to fourteen (14). These stores as planned would be in the central areas and in the interior so as to invite the needs of its customers and overly bringing the store closer to the customers.This project would involve a huge finance base as it is a project anticipate to be sail throughd within one (1) year. The management is flavor into the various ways of getting finance to carry out this project in order to improve the services of the company.THE BUSINESS CASE AND TANGIBLE OUTCOMES OF THE PROJECTThe start of project management starts from the gimmick industry. This day there are quite a lot of project management requirement s which are even more outside the construction industry as project needs cut across every business segments. Current construction firms now spends a new model of project management, using visual equipments and software to benefactor in managing the movement of materials delivery and consumption alongside equipment usage.This project exit bring about numerous benefits in addition to the existing benefits of and in the organisation. Amongst this includesIncrease in profitability.Shareholders wealth would increase and there would be more income to put in for more dividend and expansionary development in the company.Value of make outs may increase as there would be more sales.Creation of argumentation opportunities.Achieving the objectives, goals and vision of the organisation.A better local anesthetic environmentAn increase in access to quality local spacesAn increase in large number actively involved in a practical environmental projectAn advantage in let outnership between s upport organisations, communities and authorities.1.2 OVERVIEW OF THE PROJECT PROPOSALBQ is planning an expansionary project which is the establishment of five (5) more stores in the Republic of Ireland. This entrusting bring the number of its stores in Ireland to fourteen (14). These stores as planned would be in the central areas and in the interior so as to meet the needs of its customers and also bringing the store closer to the customers.To effectively analyze the viability of the project, B Q need to take care its SWOT ( readinesss, weaknesses, opportunities and threats) and also using PORTERS FIVE FORCES to examine the success of the project.SWOT ANALYSIS OF BQSWOT is a tool which is apply in strategic and market placeing analysis of a business. It preempt be used to confirm the level of readiness and con mouldity between the organisations strategies and its business environment, and to find ways in which the organisation can utilize its strengths to conquer its weakn esses while it uses its opportunities to checkmate its threats (Adams, 2005).StrengthsStrength conditions the capability of an organization. The strengths of BQ lie in its ability to provide the desired goods of its customers at relatively cheap tolls and at the same age quality goods. BQ is wide known for the quality goods it sells to various customers.WeaknessesThis determines a companys weaknesses. This should be non only from its own point of view, but also more burning(prenominal)ly, from those of the customers. BQ has received quite a lot of complaints from customers about the prices of its goods which according to the company is as result of the quality of the materials used in the production. However, compared to near of its competitors it still has a better bargain price for its products.OpportunitiesOpportunities are everywhere, such as the changes in technology, governing body policy, social patterns, and so on. Opportunities for BQ lie in the structure of the gene ral market segment and its environment. The world market and individual with corporate needs enormous for BQ to see and utilise the opportunities at its disposal. Having the fiscal strength and the clog upup of major stakeholders to open up more branches in strategic locations is an opportunity to the organisation is another sense of opportunity for BQ.ThreatsThreats exhibites the weaknesses and incapacitation of an organization. It entails those fears which the company may be nursing and which could affect the company haphazardly. Parts of BQs threat is their competitors in the market that can win over some of their customers. Also here is the threat from suppliers and others.PORTERS FIVE FORCES ANALYSISFive Forces Analysis will help BQ to agate line a competitive environment. It has likeness with other tools for environmental analysis, such as PESTLE analysis, but tends to focus on the single, stand alone, business or SBU (Strategic product line Unit) rather than a single pro duct or range of products.Bargaining Power of SuppliersThe term suppliers include every last(predicate) sources for inputs that are required so as to provide goods or services. Supplier bargaining power is likely to be gamey in BQ whenIn such situations, BQ will face a gritty pressure on margins from their suppliers. The relationship to powerful suppliers can potentially reduce strategic options for the organization.Bargaining Power of CustomersCustomers of BQ bargaining power is likely to be high when there are substitutes to the products in the market, much more when the substitutes are of more or same quality than that of BQ.Threat of New EntrantsBQ will also exert up threat of new retailers in the store. Every moment in the market there comes in new countersink of sellers which definitely will share the market with the existing sellers in the market.Threat of SubstitutesConsumers all gather in several(predicate) taste and can change from the use of one item to the other. Substituted items definitely will cause a loophole in the market which have been dropped, therefore, BQ may face the challenge of its products being substituted for another.Competitive Rivalry between Existing PlayersMichael Porter (2005) also explained that in a monopolistic or general open market where there exist many sellers especially of the same product there would exist rivalry which can affect the market sales and profitability at the other end.1.3 COMPETITIVE ADVANTAGE OF THE ORGANISATIONThis is seen as the benefit a company has over its rivals in the market which can be with its ability to outshine its competitors in the market/industry.BQ have a competitive advantage when it has the strength or ability to overturn its rivals in getting the face of customers. This applies to both services and products.Michael Porter (Theory of Management) (1990) explains that, though not all nations are at the peak of competition, the al-Qaeda nation which shapes the competitive advantage is the starting point for a firms competitive advantage and also from which it must be upheld. Therefore, BQ has a lot of competitive advantages which do it a leader in the market. It should be take in account that competitive advantage can be checked to one of three forms passe- naval divisionout resources, superior skills and superior positions.TASK 22.0 INTRODUCTIONProject Management is about organising and managing resources in a form that they deliver the desired mind to pinpoint a project within the agreed scope, quality, and time and be constraints. It covers the planning, manageing and control of the project as well as the motivation of those involved in order to achieve the project objectives as set.Each project is expected to have a Project Manager to maintain project turn up and meld stakeholders to make sure that the risk of failure is reduced and also to intimate the m on the progress of the project. As a successful project autobus you must be able to visualize the project from beginning to ending and to have the ability to ensure that this vision is achieved.The following are the methodologies which can be used in common principles to manage a project developmentDefine the project detailInvolve the right peopleEstimate the resources, time and pricesBreak the project into manageable sectionsDefine how change will be managedAgree on performance/acceptance criteriaOBJECTIVESThis task is to cover some areas in this project which are as listed belowTo identify all resources required for the project and the benefits to the organisation.To identify all costs associated with the project.To set up a budget for the project.To carryout costs benefit analysis for the project.Staff development and dressing costs.2.1 REPORTFROM Management ConsultantTO Board of Directors/ManagementDATE 22nd July, 2010. undefended RESOURCES REQUIRED FOR THE PROJECT ESTABLISHMENTINTRODUCTIONBQ with its quest to satisfy all their customers by bringing services closer t o them has decided to build more stores in the Republic of Ireland as this will also improve the profitability of the entire business.This is a project which will definitely require the company to establish a technical committee on the work to be done as this will require a large sum of investment for the success of the project. The budget show that the total sum 15 million would be required. However, to furnish the stores with the items for sale would be handled by the procurement department and so the cost for this deed is not included.The analysis of the 15m cost plan (budget) is as followsContract sum (2.5m x 5 stores) 12,500,000Planning service cost (for the 5 stores) 1,500,000Training cost (recruitment re training of existing module) 500,000Other related cost 500,00015,000,000SOURCES OF RESOURCESThe resources that would be required as clearly stated above would be financed by partly depone borrowing and partly using part of the banks investment income from the reserve.Note worthy is the fact that the contract sum as mentioned above would be paid to a construct contractor. The amount specified above represent the contract sum quoted by the building contractor.The training cost would be paid to PWC consultants for the training which will be in two phases one for the new recruits that would start work in the new stores after the purpose and some of the present staffs that would be transferred to the new sites. The training cost is as followsFacilitators (one year contract) 400,000Refreshments (1 week) 20,000Training materials 10,000Accommodation for trainees (Scheduled quarterly) 50,000Transportation expenses 20,000500,000COST BENEFIT ANALYSISA cost benefit analysis is done to determine how well, or how poorly, a planned action will turn out and how this would be applicable to BQ. Although a cost benefit analysis can be used for almost anything, it is most commonly done on financial numbers. Since the cost benefit analysis relies on the plus or minus of financial issues concerning a project to determine a net result.A cost benefit analysis finds, quantifies, and adds all the positive factors. These are the benefits. Then it identifies, quantifies, and subtracts all the negatives, the costs. The digression between the two indicates whether the planned action is advisable. The real trick to doing a cost benefit analysis well is making sure you include all the costs and all the benefits and properly quantify them.To achieve this, I will use the open back period to check the time the project would pay back as there is a policy in the company that any investment that would not be recouped within the first five years of establishment will not be seen as being viable. The inflows are projected inflows for the new stores as a group i.e. the stores would be analysed collectively not individually.Year Cash flow Balance 0 (15,000,000) (15,000,000)1 2,500,000 (13,000,000)2 3,175,000 (9,825,000)3 5,220,000 (4,605,000)4 6,725,0005 6,875,000 3 + 4,605,000 = 3 + 0.6856,725,000= 3years, 7 months.From the above, the project would have a pay back period of less than 4 years which according to the policy of the company, the project is seen to be viable as the pay back period is less than 5 years.2.2 STAFF TRAINING AND DEVELOPMENTWant to keep members of staff motivated about learning new ideas, the quality and variety show of the employee training provided is major for motivation for consideration. Whatever the reason for conducting an employee training session, there is need to develop the employee training within the framework of a comprehensive, ongoing, and consistent employee training program. This quality employee training program is essential to keep the staff motivated about learning new concepts and your department profitable which definitely will help in the new outlets to be construct by BQ. This training will serve the new and existing members of staff.Beneficial Components of Employee Training SkillsTo make a c omplete training of employees either new or existing staffs, there need be a balance with the companys expectation about the employer and the expectations of the employees. This training will sacrifice a detailed understanding on how and what the company is all about, individual and general expectation of both parties at the short and long run.New accept TrainingThis has to do with training of new recruits in the organization. They are new employees that need to understand the basis, rules and norms of the organization, either with or without previous experience in a related job exposure.On the Job TrainingMany organizations make good use of this system to train staffs. On the job training is so essential and can be seen as a continuous system of training for employees. During the course of the job, new styles of work are being learnt which help to progress more on the job being carried out. This involves the supervisory and the operational level of work. Managers go round during the course of work or work colleagues who are more experienced are used to train the especially the new recruits.(http//humanresources.about.com/od/coachingmentorin1/a/trainmotivation.htm)However, for this project, the type of training that would be used is contracted to PWC consultants. This is to prepare the staff ready for the new stores when they are completed in the Republic of Ireland. The training cost has been analysed above.TASK 33.0 INTRODUCTIONImplementing strategy needs more strength and it requires effort for a lot of organizations, knowledge from emotional feedbacks on time during the carrying into action process, which shows the impact of any force placed alongside the quest for the use of strategy which would lead or give the basis for the realization of strategy for proper implementation. Many businesses fail to achieve strategic objectives of the organization as highlighted at the planning stage of the company because they do not successfully attach operations wit h goals. Effective communication among all stakeholders is comminuted in jumping this critical issue.The performance gap drawn between strategy creation and benefit realization is frequently a companys inability to put in place the strategies they define. latent hazards may be grouped into four basic categories Clarification, Communication, Alignment and Measurement.The above mentioned issues would be discussed alongside the milestones to be put in place to achieve the implementation of this project by BQ in the Republic of Ireland.Thus must emphasis would also be laid on the involvement of stakeholders in the achievement of this project.OBJECTIVES routine suitable tools and techniques to plan the implementation of the chosen projectDevelop a milestone for the project.Analyse the involvement of stakeholders in the implementation of the project.Develop a set of measure that would enable you monitor and evaluate progress of the project and ensure relevant feedback procedures have be en put in place to inform stakeholders of the projects progress.3.1 MILESTONE fort THE DEVELOPMENT OF 5 STORES IN THE REPUBLIC OF IRELAND BY BQ.Many managers during the course of project management would think projects would be near completion from information disposed(p) to then by subordinates and or people working with then and only to find that project over-runs by weeks or even months more than expected. This is because the last part of the work takes longer than planned.If youve ever been in this situation and have been affected by this disturbing situation, then, youll know why experienced managers carefully monitor how substantial completion dates checked against planned completion dates at certain milestones within projects. This gives the managers room to take corrective action, or manage peoples expectations appropriately, and this is where Project Milestone report becomes evidently important.A real life milestone is a table that tells you how utmost you are from a ce rtain point so you know how far you have come, or how much effort you have to put so as to reach your realization goal.Project Milestones perform exactly this role in a project plan. They mark significant events, deliverables or interdependencies that need to be monitored to keep the project on track. Project Milestone Reports show you what has been achieved and what else needs to be done to successfully complete your project.The milestone for this project is reflected in the table belowISSUESEXPLANATIONSThe project in focusThe project in focus is the construction of five (5) more stores for BQ strategically in the Republic of Ireland.Construction site.Development plan has been received in respect of the construction from the government for the development which will be at strategic locations in the country.Quality measuresThe quality of materials to be used for the construction is standard checked and guaranteed materials for the building. rump dateThe project is expected to span through twelve months as it is handled by the same contractor and would be time effective during the construction.The above represents the milestone that would serve as organize to the construction of the projects. However, the stakeholders of the company would also be involved in the development stage.This can also be represented using the Gantt Chart.ISSUEEXPLANATIONS20102011JAN.- JUNE.JUL.-DEC.JAN.- JUNE.JUL.-DEC.The project in focusConstruction of five (5) more storesfor in the Republic of Ireland.construction siteDevelopment plan has beenreceived in respect of theconstruction from thegovernment for the developmentwhich will be at strategiclocations in the country.Quality measureThe quality of materials to be usedfor the construction is standardchecked and guaranteed materialsfor the building.Target dateThe project is expected to spanthrough twelve months as it ishandled by the same contractorand would be time effectiveduring the construction.3.2 STAKEHOLDERS INVOLVEMENT IN THE PROJECTA stakeholder is someone who has something to gain or lose in the result of a planning of process or project or business. These are known as interest groups and which have a powerful bearing on the outcomes of business dealings. It finds normally beneficial for research projects to analyse the needs and concerns of unlike stakeholders, particularly when these projects are set out to achieve a particular goal.Stakeholders, who have high interest and high power with the project, are the organisations or the people are generally fully engage with it. At the time of policy change or new campaign these people are target. Decision makers are on top of power list which are normally member of government. After that there are opinion leader whose opinion matters. This creates pyramid which known as influence map.Stakeholders with low power but high interest need to be updated all the time, and if they are properly organised they form compression which can lobby for change. If these people are satisfied they are the main supporter at the time of policy change.If time and resources permits, detailed analysis can be carried out which give detail knowledge of (i) the nature of the power and its position and (ii) the interests that give it that position. By doing this one can get the better t understanding of the project that why people take certain stands and how they can work together.The final stage is to create a strategy for how to involve different stakeholders in a one project, how to distribute information which is useful to them, and maintaining a relationship with them. Identify who will make each contact and how, what message they will communicate and how they will do the follow-up and most importantly who will do that that how they will do.The diagram above represents the level of the stakeholders of BQ. The following are the major stakeholders of the companyThe investors (shareholders)The customersThe suppliersThe creditors/debtorsThe governmentThe com petitorsThese represent the summary or compressed version of the companys stakeholders. All the stakeholders would be kept abreast of the happenings in the organisation so as to be able to achieve a successful implementation of the project.3.3 PROJECT IMPLENTATIONMost projects share a common life cycle as seen in the project of BQ.Define(1. Initiation)2. PLANThe projectIMPLEMENTATION(3. Executing)(4. Controlling)MONITORADJUSTEVALUATE(5. Closing)CELEBRATE(Sourcehttp//informationr.net/ir/8-1/paper144.html)MonitoringAs the project managers of BQ will start this project, they will need to develop a work schedule for the many activities that would be done and would be expected to monitor the project from the start i.e. the unveiling period down to the completion of the project as this will aid the success of the project.Managers of BQ need to check the time table written or built for this project so as to have a good grip on the monitoring of the project. They also have to consider the budget and the resources available for the completion of the project.In order to have a successful project monitoring the following should be consideredThe use of the set up note for the project to monitor the growth of the project.Checking on the plan time table regularly.Quality must be checked and emphasized on.Progress should be checked on a regular basis.The full involvement of managers and project supervisors.The project time table should be followed regularly to avoid drift from the original plan.Changes during the construction should be communicated to the members of the team.Reasons why project should be monitoredTo check planned work to actual work done.To know level of job completion.To know the quality of work done.Compare budgeted cost to actual spending.To check on attitude of everyone involved in the project.To know the level of commitment given in by team members.Ways to express the project development events Formal and informalFormalReports Level of job completion form/reports should be completed by all those involved so that progress and problems that occurred during the project work can be identified on time. Audits are used mostly to identify these issues when they arise.Project review meetings Meetings should be carried out by the managers and the project managers with the management so that periodic review could be carried out on the project so as to know the level of job completed and the requirements needed by the rest of the area not completed in the building of the project. folksyInteraction with the members involved in the building project. pastime of the other stakeholders of the company.Strict observation during the project design.Reports and guidelines for small and large projects to be used for the BQ projectActionDailyWeeklyMonthlyQuarterlyInformal interaction with members venialLargeStaff interaction with managersBothMeeting to review projectSmallLargeLevel of work reportSmallLargeProject auditLargeTeam development practiceB oth last-place report to the directors/mgt.BothSIMPLE FORMS TO CREATE USEFUL REPORTS (THE nett REPORT)The final report is a form of writing that deals on the whole history of the building work carried out during the designated period of time. This has to do with keeping of testify of the initial stage build ups, every action that took place during the course of the project and the final report.Schedule on informal meeting with key players is important as to know their opinions and ask them about the project and what they would do next time.The final report of the project can be written using the form format written belowSummary of the project to include revisions to the original project planSummary of major successes achieved.Analysis of planned requirements to actual achieved.Final financial analysis considering the difference that exists.Evaluation of administrative and management issues.Team performance should also be included in the report.Any other issue that require further investigationRecommendations on the project which can be used as a guide for the future.Acknowledgement of all those involved in the project work.CONCLUSIONProject development is important and requires the development of end-to-end concepts forThe construction of any project especially the construction of the stores for BQ in the Republic of Ireland which is part of the developmental plans of the company and as this will improve the profitability stage of the company. The reason for asset management is to maintain a ful set of investments, properties and fund which will in turn help in maximising the wealth of the shareholder. In property management, the duty of improving the status of the company so as to achieve profits for the business which would be carried on in the building as expected to be done by the management of BQ. This is a big organisation that has a great investment and any further investment that would be made would require the involvement of its major stakeholders. The extension would definitely call for an improvement in the state and status of BQ in the Republic of Ireland and as well the profitability of the company as a whole.