Strategic Goal Attainment: SWOT Analysis in Business Strategy Context

This essay discusses how businesses can utilize SWOT analysis as a strategic tool to achieve SMART goals in a competitive market. SWOT analysis, encompassing strengths, weaknesses, opportunities, and threats, enables companies to evaluate both internal and external factors, reduce weaknesses, and enhance strengths. SMART goals—specific, measurable, agreed upon, realistic, and time-based—align with SWOT components to improve project outcomes and maintain human resource relations. The essay uses Nestle as an example to illustrate the application of SWOT analysis in strategic decision-making, emphasizing its importance in achieving business objectives and maintaining market share. The essay concludes that SWOT analysis is crucial for businesses aiming to achieve their smart goals and improve their overall image in the competitive market, guiding them to make informed decisions and understand their market position.

Running head: Business strategy
business strategy

Business strategy
Business strategy using SWOT to solve a smart goal of a
business unit
In the present scenario, it can be analyzed that to survive in the competitive market it is
important for the business to consider the strategies as it can help in achieving the overall
goals and objectives. So, in this paper the discussion will be made on the topic “How a
business can attain the smart goals by considering SWOT ANALYSIS as its business
strategy. Through this strategy the company can easily know the overall capability which can
be considered to enhance the market share in the highly competitive market.
There are various business strategies that can be considered by the company but one of the
popular strategies is related to SWOT ANALYSIS. This strategy guides the company to take
corrective steps through which it can be easy to earn profits or it can also help in maintaining
the goodwill in the competitive market. Goals of the company are important to be achieved as
it can help in attaining the large market share and can also maintain growth of the company in
the highly competitive market. So, SWOT analysis is considered as one of the best business
strategies which can help the business to attain the desired targets (Harding, 2017).
With the help of SWOT analysis, it can be analyzed that four components can be considered
easily by the management. The four component is related with strength, weakness, threats
and opportunities. This framework is considered one of the useful methods as with the help of
this it can be easy to evaluate the strength, weakness, threats and opportunities that can be
faced in the competitive market. This tool can be considered as the business strategy as with
this it can be easy to evaluate the environmental data and information in reference to both
external and internal factors. It also emphasizes on reducing the overall impact of weakness
in the business and at the same time enhances the overall strength in the competitive market
(Elmes and Barry, 2017).
Swot analysis is one of the business strategies that should be used at least every 6 months so
that it can be easy for the business to take accurate decisions for the business. The accurate
decisions can be taken easily as it focuses on internal and external factors. It can be stated
that with this tool it can be easy to consider the accurate decision which can directly impact
the overall goals of the company. When Swot analysis is used by the business then it can be
simple to maintain the human resource management relations which can positively impact on
the employees of the company (Spender, 2014).
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Business strategy
SMART goals of the company can be defined as specific, measurable, agreed upon, realistic
and also time-based goals. It is important for the resource management team to utilize all
these factors so that it can be easy to successfully implement the overall flow of the projects
and its outcome in the market (Wheelen et al., 2017).
So, it can be stated that in business the strength should be specific. Like at the time of
defining the projects, it is important to make outline and should know the strength which will
also enhance the overall efficiency. The next aspect is related with weakness in relation with
the measurable outcomes. In this factor, it can be stated that by analyzing the weakness first
it can be easy to know the overall outcome and also it will help to measure the overall impact
on the activities of the business (Grant, 2016).
Opportunities in relation to the “agreed upon” states that proper use of human resource
management should be there so that the opportunities of the team can be maintained in the
competitive market. In the business, the teams should share their responsibility and also open
suggestion should be given which will help to set the goals (Pesonen and Horn, 2014).
The last factor is threat with the realistic can define the threats which take within the
activities and the threats can also be considered and defined which will enhance the positive
outcome of the business. So, the component of SWOT when compared with smart goals
states that it will help to achieve the goals which will help in achieving positive outcome
(Rothaermel, 2015).
Swot analysis has a relation with the smart goals of the company and it is necessary to
consider this so that it can be easy for the business to enhance the market share.
For example: SWOT analysis of Nestle company. The strength of the company is related with
good image, the weakness is related with brand structure, legal and customer issues,
opportunities are related to increase in the income level, strategic alliances and threat is
related to buyers’ power and also price of the commodities.
So, this can be considered as the overall SWOT analysis of the Nestle company. So, in this
reference it is important for the company to focus on these factors before introducing any
new service or product in the competitive market. If these factors are not considered then it
can impact the overall growth of the company in the competitive market. The company will
not be able to achieve its goals if these factors are not considered before taking any decisions.
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Business strategy
These factors not only guide the company to consider the right decisions but will also help in
knowing the actual position in the competitive market.
Therefore, it can be concluded that SWOT analysis as the business strategy should be
considered by the company so that it can be easy for company to maintain its smart goals in
the competitive market. It will also help in boosting the overall image in the competitive
market. So, to achieve goals in the competitive market, it can be stated that one of the best
business strategies is related to SWOT analysis that should be considered so that it can be
easy to attain the large market share in the market. Also, the business unit which is Nestle
focused on this strategy to achieve overall goals in the competitive market.
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Business strategy
References
Elmes, M. and Barry, D., 2017. Strategy retold: Toward a narrative view of strategic
discourse. In The Aesthetic Turn in Management (pp. 39-62). Routledge.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley &
Sons.
Harding, S., 2017. MBA management models. Routledge.
Pesonen, H.L. and Horn, S., 2014. Evaluating the climate SWOT as a tool for defining
climate strategies for business. Journal of cleaner production, 64(8), pp.562-571.
Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.
Spender, J.C., 2014. Business strategy: Managing uncertainty, opportunity, and enterprise.
Oxford University Press.
Wheelen, T.L., Hunger, J.D., Hoffman, A.N. and Bamford, C.E., 2017. Strategic
management and business policy. pearson.
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