Key Strategy Development Tools

Key Strategy Development Tools 1
KEY STRATEGY DEVELOPMENT TOOLS
STUDENT’S NAME
UNIVERSITY
DATE

Key Strategy Development Tools 2
Key Strategy Development Tools
SWOT Analysis tool
This is a simple and widely yet a powerful tool in business development; it is used to
guide an existing or in a startup business. SWOT stances on strengths, weaknesses,
opportunities, and threats. The risks and opportunity are usually the external analysis
while the weakness and strength typically the internal analysis factors. It’s a tool that
quickly expands easily and opens up the possibility of franchising (Brooks, Heffner, and
Henderson, 2014).
These should be encountered when using the SWOT model analysis tool:
- The used statement should be only variable and specific. For instance, the price can
be $ 1.50 per unit, which is lower than rivalry, but it’s a good value of money.
- A mixture of generating tool should be used.
- The analysis of business activity is at an angle, which may be less tortious, rather
than at a whole business side by side.
- The issues analyzed are kept for the future in the process of strategy formation.
- There should be an arrangement of internal and external factors to have time in
engaging in the essential feature.
Example
The following is UPer Crust Pies SWOT analysis (Alam, 2015).
Strengths Opportunities
- The downtown is a busy area.
- It’s a marginal to fast food.
- The establishment of the business
has not met
- startup coffers from finances and
stakeholders.
Weakness Threats
- The town is growing by 8.5% yearly.
- There are many working families.
- There are issues with the opening
days since the customers might not
return.
- Similar shops have loyal customers

Key Strategy Development Tools 3