Comprehensive SWOT and PEST analyses help an organisation to understand how to exploit its strengths, neutralise its weaknesses and take advantage of its opportunities.
Effective mission and vision statements reduce ambiguity and provide clarity and direction. Join 3, other followers. And it would be feasible given their emphasis on innovation and highly modern fleet of ships, should they need to adapt it to accommodate a younger, family based clientele.
Perhaps relocating manufacturing abroad would give a low cost-base but retain the strength of the company's reputation. Opportunities and threats relate to external factors: what will the effect on the organisation be of economic changes? Good Luck with the exam! Illustration 1 A company has a prestigious brand name and is wondering whether or not to enter a new emerging foreign market.