Write a Report

Business essay 1500 words You are required to produce a report which addresses a specific strategic objective through the use of the SWOT tool (Strengths, Weaknesses, Opportunities and Threats). For example, what a company must do to maintain its competitive edge or whether or not it should expand overseas or diversify its product range. Note your SWOT analysis must have a strategic focus with clear links to your findings, conclusions and recommendations STEP 1 Choose from ONE of these five options: A start-up UK business By ‘start-up’ we mean a business that has been trading in the UK for 7 years or less An existing UK based business The business does not need to have been incorporated in the UK as long as it is operational in the UK. Remember, most of UK businesses are actually services. An existing family-run business This is straightforward but again seek the permission of parties involved before proceeding with your research A potential business opportunity You may have a business idea that you would like to analyse to see whether or not it could be successful. Bear in mind that you would need the permission of all parties involved if you were to divulge sensitive details Personal career development Essentially, you will be taking stock of your current strengths and weaknesses and measuring these against your academic and professional goals; in addition you will be making predictions on threats and opportunities based on current job market trends. Hence, your SMART Planner will be a crucial resource for this report. STEP 2 Once you have decided on one of the options above, choose ONE specific objective or problem (or success) area. The following are examples: A start-up business/ An existing business/ A family-run business How to respond to new market trends How to implement new technology How to respond to competitor gains How to grow sales distribution channels The best way to penetrate a new market Whether to form a partnership Whether to make an acquisition Whether to outsource a service, operation or resource Whether to diversify product range Whether to undergo organisational restructuring, etc. Resources: company annual reports, market analysts, business strategists, business news reports, theories in business and management A potential business opportunity Determining how to establish product/services differentiation Identifying potential customers and their demographic The potential of the business to raise investment and to what amount Understanding the barriers to market entry Knowing what sort of expertise is needed and from where Whether or not a business will be profitable Establishing which assets need to be protected (e.g. Intellectual property) Understanding the best route to entry (joint venture, franchising, etc) Establishing which market conditions could be exploited Test the strength and robustness of a business plan Resources: competitor annual reports, market analysts, business strategists, business news reports, start-up guides, theories in business and management Personal career development understanding career destination and route to getting there; clarify direction and choices; identifying your core strengths and weaknesses; identifying potential opportunities for success; making predictions based on job market trends and anticipating the possibility of change determining how to build personal brand differentiation Resources: SMART Planner, profiling tools (e.g. Belbin), ‘Careers Services’, job websites, theories in learning and development; theories in personal branding, etc. NOTE: giving your report such focus will enable you to be much more analytical in your approach; thus when it comes to formulating a title you will avoid the trap many students fall into Example: Title 1: ‘SWOT on Glasgow Rangers Football Club - dull and descriptive X OR Title 2: ‘What does Glasgow Rangers have to do to return to profitability?’ - dynamic and analytical ✓ POINT The second title is a much more interesting question, which allows you to analyse their situation and make recommendations, which relate to the question of profitability (focus area).