300 – 500 Words
The SWOT analysis is often used to help managers understand the competitive advantage of their organization. It can also help them to make decisions to support the organization’s mission and vision in an ethical manner and help with strategic planning. (links to videos below)
Watch the video: Putting Your SWOT to Use which will provide you with what you need to know about SWOT and making it work for your organization’s strategic planning.
Review the abbreviated version of the Starbucks 2020 SWOT Analysis.
Considering the video and the Starbucks 2020 SWOT Analysis, answer the following questions:
- Opportunities are to be prioritized in your strategic plan. How would you recommend that Starbucks prioritize Ready to Drink (RTD) coffee products in the U.S.?
- Weaknesses are important and need to be acted on quickly. What would be your first step to act on Starbucks expanding outside the U.S.? Why do you think this would work?
- Threats need to be watched and monitored. Explain how you would plan to monitor weather disasters that could drive up the price of coffee beans?
https://www.youtube.com/watch?v=F61jgtEZLsA (SWOT video)