Swot Analysis Strategic Management - 1547 Words

PESTEL analysis is a tool or framework for marketers. It is very effective when seeking to analyze and screen the external marketing environment of the company. Strategic management tool gauges the macro environmental factors. It is prudent to follow PESTEL framework since different macro-environmental factors can affect a business strategy. PESTEL framework are interdependent of each other, they are dependent factors. Understanding PESTEL is critical prior to entry into a new country. The fact that a strategy is compatible with PESTEL in the home environment is no guarantee that it would work in another country. Therefore, thorough research needs to be conducted to ensure that Home Depot would be successful in West Africa, Ghana. When entering into a foreign market, it is important to consider the relevance of each of the PESTEL factors to the context. The company needs to identify and categorize the information that applies to these factors. Finally, there is the need to analyze th e data available and draw conclusions to its findings. It is important to analyze the PESTEL framework and answer some questions. PESTEL entails; Political Factors The political environment can have significant impact on a business. It affects consumer confidence and business spending. The political stability of a foreign environment is important to consider for companies entering new markets. The government’s policies pertaining to regulations and taxation vary from country to country. ItShow MoreRelatedSwots: Strategic Management and Swot Analysis10122 Words   |  41 Pages SWOT usage SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpointsRead MoreSwots: Strategic Management and Swot Analysis10111 Words   |  41 Pages SWOT usage SWOT has been used by countless practitioners, marketing researchers, and is a frequent and popular tool for business marketing and strategy students. Its simplicity and catchy acronym perpetuates its usage in business and beyond as the tool is used to assess alternatives and complex decision situations. In the business arena the grouping of internal and external issues is a frequent starting point for strategic planning. It can be constructed quickly and can benefit from multiple viewpointsRead MoreStrategic Management and Swot Analysis1633 Words   |  7 Pagesï » ¿ Amongst all the novelties, trends, and fashions appearing in the field of strategic management during the last decades, the SWOT analysis, standing for: strengths, weaknesses opportunities, and threats has enjoyed a long lasting popularity among both practitioners and researchers.  The purpose of this essay is to demonstrate that SWOT analysis can be used for both businesses and individuals. In the 60s swot analysis was invented at the Harvard business School for the purpose of analysing caseRead MoreSwot Analysis : Strategic Management1585 Words   |  7 PagesStrategic Management is a set of upper level management decisions and actions that will determines the long term objectives and performance of a corporation. It accomplishes this task by including a variety of tools and analysis techniques, which will implement, evaluate and control the general direction of a company. This is done through strategy formulation which begins with a situational analysis that emphasizes the monitoring and evaluating of external opportunities and threats in light of aRead MoreSwot Analysis : Strategic Management1152 Words   |  5 PagesStrategic management is an approach to help leaders forecast the direction of their organization. This approach helps organizational leaders gauge the quality of its services, products, and/or internal systems by performing internal and external audits . These audits help leaders identify the internal strengths and weakness, and the external threats and opportunities (SWOT) within a given market. This analytic framework helps leaders forecast contingencies and help leaders develop strategies toRead MoreSwot Analysis : Strategic Management1390 Words   |  6 PagesContext Analysis Strategic management is an important part of business planning. It helps create strategies for better performance, profit, and future success. Analysis of both internal and external factors is vital for a company’s proper growth. Culture, the perspectives of the company’s employees, managers, owners and clientele, and the structural and environmental elements that effect the operation of the business are all examined in the strategic management process. The purpose of this paperRead MoreSwot Analysis : Strategic Management Essay1152 Words   |  5 PagesThe term strategic management refers to the recognition and portrayal of the strategies that are pursued by the managers for the achievement of better performance goals and having a competitive advantage. To determine if an organisation has a competitive advantage, its profitability should be focused and analysed if it the measure if above average of all the businesses in the industry. The decisions taken by the managem ent committee of the organization and the acts to decide the outcomes of the business’sRead MoreSwot Analysis : Organizational Strategic Management1744 Words   |  7 Pages SWOT Analysis: Organizational Strategic Management Calvin McLemore St. Thomas University, Miami, FL May 27, 2017 Introduction For this is a SWOT Analysis, this author chose to explore the international retailer IKEA. This organization was chosen because of the emphasis on globalization, international interests and overall functionality of the products. Crandall, Parnell, and Spillan (2013) states that a SWOT Analysis is â€Å"based on a systematic, comprehensive analysis of internalRead MoreCango: Strategic Management and Swot Analysis1501 Words   |  7 Pagesmeetings. We prepared a SWOT analysis to show what the company needs to improve on and what the company can expect in the future. According to Jaja Suteja (2003) â€Å"The SWOT analysis provides information that is helpful in matching the firm s resources and a capability to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection. A scan of the internal and external environment is an important part of the strategic planning process. EnvironmentalRead MoreSwot Analysis : Strategic Planning And Management Essay1304 Words   |  6 PagesCHAPTER IX STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS ANALYSIS Strengths, Weaknesses, Opportunities, and Threats of a particular business venture are the four elements that is being evaluated in the SWOT Analysis. It is a planning method that is usually carried out by a company or organization specifying the objective of the business and identifying internal strengths and weaknesses plus external opportunities and threats that are both favorable and unfavorable to attain that certain objective

Concept Comparison and Analysis Free Essays

Concept Comparison and Analysis Jessica Watts NUR 513 July 2nd, 2012 Coleen Lucas Concept Comparison and Analysis Core concepts are the basis for a theory or model; concepts help in the development of theories. Theorists have developed different models or  theories but have common core concepts. This paper will identify the core concept of ‘the role of nursing,’ which two theorists, Dorothea Orem and Virginia Henderson both utilized. We will write a custom essay sample on Concept Comparison and Analysis or any similar topic only for you Order Now We will compare and  analyze the concept definitions among both theorists, and discuss the practical use of Orem’s self care theory. Core Concept The core concept of ‘The role of nursing’ was used in both Dorothea Orem’s self care model and in Virginia Henderson’s nursing care model. Dorothea Orem’s definition of nursing is â€Å"actions deliberately selected and performed by nurses to help individuals or groups under their care to maintain or change conditions in themselves or their environments† (Current Nursing, 2010, para. 4). Virginia Henderson’s definition of nursing is â€Å"assisting individuals to gain independence in relation to the performance of activities contributing to health or its recovery† (Timetoast, 2011). Their theories in relation to the concept differ where Orem’s concept requires the patient to have a self deficit and in need of nursing care or support; while Henderson’s concept states that nursing is required regardless if the patient is sick or healthy. The concepts are also similar in the fact that they both support the patient is regaining optimal health. Their concepts are applicable in different nursing settings because the goals of each are the same. Orem’s Self Care Theory—Metaparadigms Within Orem’s self care theory, there are five metaparadigms: nursing, health, environment, human being, and nursing client. Orem views nursing as an art, a helping service, and a technology. Orem’s definition of nursing is â€Å"actions deliberately selected and performed by nurses to help individuals or groups under their care to maintain or change conditions in themselves or their environments† (Current Nursing, 2010, para. 3). Orem encompasses the patient’s, the physician’s, and the nurse’s perspective of the patient’s health condition. Her goal of nursing is to make the patient and members of the patient’s family capable of meeting the patient’s self care needs, maintain an optimal state of health, to regain previous state of health after an illness or disease, and to decrease the effects of a chronic illness. Orem uses the terms ‘health’ and ‘healthy’ to describe living things ; â€Å"it is when they are structurally and functionally whole or sound, in conjunction, with physiological and psycho-physiological mechanisms and a material structure in relation to and interacting with other human beings† (Current Nursing, 2010, para. ). Orem’s environment is the elements, conditions, and components within the environment. According to Orem a human being â€Å"has the capacity to reflect, symbolize and use symbols; a unity that can function biologically, symbolically, and socially† (Current Nursing, 2010, para. 5). A nursing client is a human being who has heal th related or derived issues that cause them to be incapable of continuous and complete self care; they are the focus, only when their self care needs exceed their self care capabilities. Theory of Self Care Orem’s definition of self care is the â€Å"practice of activities that the individual initiates and performs on their own behalf to maintain life, health, and well being† (Current Nursing, 2010, para. 12). The human ability to engage in self care is determined by age, developmental state, life experience, social and cultural orientation, health, and available resources. Orem describes three self care requisites; universal self care requisites, developmental self care requisites, and health deviation of self care; all are directed towards the provision of self care. Universal self care requisites are the maintenance, provision, balance, prevention, and promotion of human functioning. â€Å"Developmental self care requisites are associated with developmental processes derived from a condition or associated with an event† (Current Nursing, 2010, para. 14), for example adjusting to a new job or adjusting to bodily changes, such as menopause. Health deviation self care is required in conditions of illness, disease, or injury. Health deviation is seeking, securing, modifying, learning, and effectively carrying out medically prescribed measures. Theory of Self Care Deficit Orem’s theory of self care deficit specifies when nursing is needed. â€Å"Nursing is required when an adult (or in the case of a dependent, the parent) is incapable or limited in the provision of continuous effective self care† (Current Nursing, 2010, para. 16). Orem’s created five methods of helping; which are acting for and doing for others, guiding others, supporting one another, providing an environment that promotes personal development, and teaching one another. Theory of Nursing Systems Orem describes how the patients self care needs will be meet by the nurse, patient, or both in her theory of nursing systems. The design and elements of a nursing system defines the scope of nursing responsibility in health care situations, defines general and specific roles of nurses and patients, and defines reasons for nurses’ relationship with patients† (Current Nursing, 2010, para. 17). Orem recognized that members of the health profession usually develop specialized technologies. â€Å"A technology is systematized information about a process or a method for affecting some desired result through deliberate practical endeavors, with or without use of materials or instruments† (Current Nursing, 2010, para. 17). Concept of Orem’s Theory Orem interrelates concepts in such a way, that it creates a different perspective of a particular phenomenon. Orem’s theory is logical, simple, and generalizable; and is a basis to test hypotheses. â€Å"It contributes to and assists in increasing the general body of knowledge within the discipline through the research implemented to validate them† (Current Nursing, 2010, para. 21). According to Orem, her theory in Current Nursing, 2010, can be used by practitioners to guide and improve their practice and it must be consistent with other validated theories, principles, and laws. Major Assumptions, Strengths, and Limitations According to Current Nursing, 2010; some major assumptions of Orem’s theory are: people should be self-reliant and responsible for their own care and their family; people are distinct individuals; nursing is a form of action and interaction between two or more people; successfully meeting universal and developmental self care requisites is an important component of primary care prevention; knowledge of potential health problems is necessary for promoting self care behaviors; and self care and dependent care are behaviors learned within a socio- cultural context. Some strengths to Orem’s theory, according to Current Nursing, 2010; are: it provides a comprehensive base to nursing practice; it has utility for professional nursing in the areas of nursing practice, education, administration, and research; specifies when nursing is needed; and Orem’s self care approach is contemporary with the concepts of health promotion and health maintenance today. As with any theory there are always limitations to its use; Orem’s theory’s major limitation is that her theory is illness oriented and only calls for nursing care when there is an illness present. Global health care needs, as identified by clinicians or patients/consumers, are addressed through the generation of research evidence that is effective, but also feasible, appropriate and meaningful to specific populations, cultures and settings† (The Joanna Briggs Institute, 2011). Concepts are the bases for a theory or model and aide the development of theories. The com mon concept discussed in this paper was the role of nursing, which is common and essential to Orem and Henderson’s theory. Orem believed that a patient needed to have a self deficit for nursing care while Henderson believed in nursing care whether the patient was healthy or ill. While each theorist had different definitions of the role of nursing, both had the same concept of nursing care. â€Å"Nursing encompasses autonomous and collaborative care of individuals of all ages, families, groups and communities, sick or well and in all settings. Nursing includes the promotion of health, prevention of illness, and the care of ill, disabled and dying people. Advocacy, promotion of a safe environment, research, participation in shaping health policy and in patient and health systems management, and education are also key nursing roles† (Definition of Nursing, 2010). Orem’s self care model demonstrated the role of nursing in caring for an individual with a self care deficit and/or illness. Nursing interventions help individuals regain optimal health and well-being. References Current Nursing. (2010). Dorothea Orem’s Theory. Retrieved from http://currentnursing. com/nursing_theory/self_care_deficit_theory. html Definition of Nursing. (2010). Retrieved from http://www. icn. ch/about-icn/icn-definition-of-nursing/ Timetoast. (2011). Breif history of Nursing. Retrieved from http://www. timetoast. com/timelines/22792 The Joanna Briggs Institute . (2011). Retrieved from http://www. joannabriggs. edu. au/JBI%20Approach How to cite Concept Comparison and Analysis, Essay examples

Business Information System IT Write-Up Free Sample for Students

Questions: 1.Why do you think the Previous CIO, Davies, Created Slush fund slack for Budgeting IT Projects? Under Davies, whose neck is in the noose if a Project goes bad? 2. Do you think Barton's approach of providing the best Information at the time is a better approach than Davies' approach? Under Barton, whose neck will be in the noose if a Project goes bad?3.Should Barton try to take control of the entire IT budget? Should he ask for a percentage of the overall Budget to be placed under his control? Or should he try to fix the Committee Structure put in place by Davies? Answers: Reason why the previous CIO created slush fund stack for budgeting IT Projects and who to be blamed if anything goes wrong. He created the slush fund stack so that he can use it for some other illicit purposes. The main purpose of implementing slush fund stack was when there were no important projects that needed to be approved. This would help them to account their expenses more correctly but if there were any IT projects then the company should be ready to pick that up and make it worth it. The CIO wanted to keep the slush fund because he wanted to use it for political bribery in order to make the company more recognizable (Baltzan Phillips, 2016). He also proposed that it would not be a lot of money but whatever gets collected would be stored in reserve for crisis and also the amount would be enough that it would definitely help the company to focus more on other project. He created this slush fund stack for budgeting IT projects which did not have correct authorization and also did not come from standard decision process (Austin, Nolan Shannon, 2009). Another reason for creating these slush funds we re that if ever company runs into any crisis state due to insufficient IT projects, with the funds in reserve can be used to stabilize the company. If somehow anyone comes to know about this slush fund stack, the whole company and companys reputation will be at stake. Many people will have to lose their job due to this illicit practice of creating slush fund stack and all their tie ups will come to an end and no other company will ever give any project to them and company would have to face severe loss and finally the company had to be closed (Galliers Leidner, 2014). Due to this practice, many employees have to lose their job at the end. So in short, everyones neck is in the noose if anything goes bad. Bartons approach is more reasonable and if applied who is going to be trouble. Bartons approach of providing the best information system is much better than the previous CIO as Bartons approach is more methodological than the CIO as the CIO wanted to create slush fund stack without any backup plan whereas Barton wanted to close all the security holes so that no one can sniff into their information system but the problem with doing so is that no information system is fully secured and if they manage to block all the communication then it would arise a level of doubt from the data analysts also to make the system more secure, it would cost twice for setting up the system and to make it more secure (Austin, Nolan Shannon, 2009). At least this would prohibit others from peaking into the system and the company still can manage the slush funds for which they do not have to give any explanation whereas if they had gone with the CIOs plan then there would be a chance of getting caught as someone could look into their systems and steal the information which can be avoi ded by making the system more secure as it a onetime investment to make the system secure (Bednarz, 2013). The problem of doing so is that if they make their systems secure all of a sudden then everyone around them will be a bit suspicious that there must be something that they are trying to hide because there is no system that is fully secured so if they are spending too much then all eyes will be on them. The ones who are to be in trouble because of this would be Barton. Fenton, Geisler and Davies that they are supporting such acts and helping them in hiding the money by making slush fund stack. Barton should be placed in charge of the entire IT budget and ask for the percentage in order to make efficient decisions. Yes, Barton should be placed in charge as Barton is well positioned in the company he knows the company pretty well from inside and is quite experienced so he should be put in charge of the entire budget as he represent the interests of both the business and IT department (Cassidy, 2016). Declaring Baron as fixer, he could be given plenty of scopes to do the fixing but only problem with this is that in this process the noose will be in his neck only and no one elses (Austin, Nolan Shannon, 2009). Barton should be given the liability to ask for the percentage for IT budget so that he can discuss about the proposed budget and also to keep them under his discretion in order to save the confidential information from getting leaked (Ward, 2016). This would also help Barton to lose the noose over his neck as others would be under an impression that Barton is doing well for the company. References Austin, R. D., Nolan, R. L., Shannon, O. Donnell.(2009).The Adventures of an IT Leader. Baltzan, P., Phillips, A. (2016).Business driven information systems. McGraw Hill Education. Bednarz, T. F. (2013). Ethics in Business.Practical Ethics for Food Professionals: Ethics in Research, Education and the Workplace, 75-91. Cassidy, A. (2016).A practical guide to information systems strategic planning. CRC press. Galliers, R. D., Leidner, D. E. (2014).Strategic information management: challenges and strategies in managing information systems. Routledge. Ward, T. (2016). Civil society perspectives on corruption and human rights.The Routledge International Handbook of Criminology and Human Rights.