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Conduct a swot analysis on the competition in target market

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Reference no: EM131966778

Assignment

Instructions

This is the second of several assignments to help students develop a business plan. The paper should be researched using a minimum of three scholarly resources. The paper should be written using APA formatting and be a minimum of 600 words.

Describe the (business) Rural Hospitals including the mission statement, the products and services the company will offer which are low wait times compared to larger inner city hospitals, more one on one care --- and who you consider to be the company's competition - larger in city hospitals. How will you establish your company so that it stands out from the competition? How will you establish this business to accommodate a global business environment? What talents will you be looking for when you hire employees? What technologies will be imperative to maintaining your business? What will you charge for your products and/or services that you offer?

In milestone 2, you will create a SWOT analysis and discuss promotional strategies. This assignment has 2 parts and will be roughly 450-600 words.

Part A

Conduct a SWOT analysis on the competition in your target market. Go to Bplans.com, read What Is a SWOT Analysis and view the video. A SWOT for a particular business looks at the following:

• Strengths (what is the competition doing well)
• Weaknesses (what is the competition not doing well)
• Opportunities (what opportunities exist for your company in the market)
• Threats (what challenges will you be facing in this market, that you have no control over such as the economy or new competition)

Share the SWOT analysis using a table created in a Word document that bullet points the strengths, weaknesses, opportunities and threats.

Then, in 1-2 paragraphs, explain what the content of the SWOT analysis means to your company.

Part B

Discuss your promotional strategies. How will you promote your business (how will you let the consumer or client know you exist using advertising and promotions)? What do you project your sales to be in the first year of doing business? Explain your answers.

Once the instructor has assessed this assignment, made comments, and returned the assignment to you, make sure you read the comments and make the necessary changes. You will be submitting this material again in the final business plan.

This assignment will include content, critical thinking skills, research, structure, writing mechanics, and APA formatting.

Reference no: EM131966778

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