BUS 687 - Week 1 - Journal - Week One Journal - Running head WEEK ONE Week One Journal Tracie Bowley BUS 687 MBA Capstone Instructor Michael Hamlet

BUS 687 - Week 1 - Journal - Week One Journal -...

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Running head: WEEK ONEWeek One JournalTracie BowleyBUS 687 MBA CapstoneInstructor: Michael HamletNovember 25, 2019
WEEK ONE2Week One JournalThere was no actual introduction to the first week of this class. We were expected to jump right into action, which is how we will find ourselves in many real-life situations. Week One involved a variety of readings, videos, a discussion, and an introduction to a simulation that we will be working in throughout the course of this class. This first week of class has been interesting and insightful.LearningThe first week of class focused on conducting SWOT analyses. While SWOT has been covered in previous classes, I was able to gain additional knowledge. After conducting a SWOT analysis for Hisco (the company in the simulation), a discussion was to be completed. In a response to my initial discussion question, the instructor asked me how the broad environment and Porter’s five forces fit into SWOT analyses. While previous classes have discussed Porter’s five forces, I had never really understood its complete significance. “Porter’s five forces are the power of buyers, the power of suppliers, the potential for new entrants, substitute products, and competitive rivalry and is used to help determine the level of competition in the industry (Öneren, Arar & Yurdakul, 2017, p. 512). After looking into the broad environment via PEST analysis and Porter’s five forces, I have learned more about completing a SWOT analysis. I learned that “a PEST analysis “is a precondition analysis with the mains function of the identification of the environment within which the company or project operates and providing data and information that will enable the organization predictions of new situations and circumstances” (Choez, Cortázar, Cruz & Carvache, 2017, p. 58). A PEST analysis and Porter’s five forces can be used to help provide a more accurate SWOT analysis. A company’s internal strengths and weaknesses can be found by looking at the company itself. A Pest analysis and
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