BUS687 Week 1 Journal.docx - Running head WEEK 1 JOURNAL 1...

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Running head: WEEK 1 JOURNAL1Week 2 Journal****InstructorAshford UniversityNovember 18th,2019
WEEK 1 JOURNAL2Week 1 JournalThis journal is prepared to discuss various aspects of SWOT analysis. SWOT analysis briefly describes the strength and weaknesses related to the business. It also talks about various opportunities and threats can occur in the business. According to Gurel, “Creating a SWOT analysis which is qualitative and descriptive gives companies a starting point into examining their strengths, weaknesses, opportunities, and threats. Business problems come in all shapes and forms from vendor licensing issues to capital for expansion to eventually make operations more profitable in the long term” (Gurel, 2017).There were various scenarios and challenges with the HISCO market. It is also seen that there is a huge involvement in collecting market details. As far as SWOT analysis is concerned, there was heavy involvement in identifying the weaknesses and convert them in strengths. For that, HISCO management had to identify the root cause and fixed the problems. After a thorough market analysis, all the threats were identified though some of them were based on the market conditions. The market analysis also helped in identifying various opportunities to grow the business over time. “The ability to process, analysis, and develop an effective strategy will be challenging as many of the operations depend on another service to be efficient. PEST charts help identify external risk to current

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