Strategic Plan Part Ii Essay

1447 words - 6 pages

Strategic Plan, Part II: SWOTT Analysis
Integrated Business Topics/BUS475

Strategic Plan, Part II: SWOTT Analysis
The purpose of this paper is a synopsis that the author will analyze seven of the forces and trends that Lusti Laundromat must take into consideration including economic, legal and regulatory. The author will describe how the company adapts to changes, and analyze the supply chain operations. By identifying the major issues or opportunities that the company faces with the synopsis, the author can generate a hypothesis surrounding each issue and research questions. The author will conclude by identifying the circumstances surrounding each issue, classifying the circumstances; ...view middle of the document...

Pearce & Robinson (2009) states,” It is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats).” Besides the forces and trends already mentioned by the author, the SWOTT analysis will include social, technological, competitive analysis, processes and systems, and innovations.
External forces and trends
Legal and regulatory- These forces are fundamental for daily operations of Lusti Laundromat, due to the fact that the equipment that is used is required to maintain the standards set by the Fire Department, and the Water Management Department. Pearce& Robinson (2009) states, “Political factors define the legal and regulatory parameters within which firms must operate.” Acquiring the required licenses is essential because otherwise the business would not be able to operate and could be penalized.
Economic- This is considered a strength trend within this company. Economic trends can be a major concern for businesses in regards to revenue; however, for Lusti Laundromat is a positive aspect. Pearce & Robinson (2009) states, “Economic factors concern the nature and direction of the economy in which a firm operates.” During periods of recession, when home ownership decreases, people are unable to repair or purchase new machines, some move to apartment housing and they do not have laundry facilities, these people are in need of washers and dryers.
Social- This trend can have a positive impact and an opportunity with the company because families can establish additional incomes. The increase in population means more customers will be in need of the services the laundry offers. Although buying new clothes can be affordable, customers have the necessity of washing.
Technological- Taking into consideration the demand and competition in the industry, this trend is an opportunity because Lusti will be well operational making it possible to deliver high standards services to customers. Detergents and cleaning chemicals are key components to laundry services because manufactures uses technology to develop advanced and efficient products. The company will be introducing all Energy Star Partner machinery, which will help save water, and protect energy.
Competitive Analysis- This industry has been around for over 60 years, currently there are about 35,000 coin laundries in the United States, understanding the demand of this growing industry, the company must understand what competitive analysis represents. Identifying and correcting some key mistakes are fundamental; Lusti should focus on the market and add new contracts with hospitals, schools, universities, hospitality such as resorts, lodges, guest houses and bed, and breakfast entities. Effectively assessing the strengths and weaknesses for current and future potential competitors is the framework of competitive analysis.
Internal forces and trends
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