Basics of Business For Prof.MacQueen (320)JayMcc1
Visit an e-commerce site serving a niche market and assume that you have been asked to analyze the business. Conduct a simulated SWOT analysis on the Web site, including providing answers to the questions listed in Section 3.2.2. Be sure to include a SWOT diagram embedded in your text (Hint: Use Word/Insert/Table functions)
Figure 3-2: A SWOT chart is a valuable tool for
analyzing a business idea.
Strengths and weaknesses are considered internal factors that control or specifically contribute (good or bad) to the business concept. Opportunities and threats are external factors that are influenced to some extent by the environment or otherwise outside of a business’s control.
After filling in the chart, it is time to analyze the information. Ask the questions in the “Pathway to Doing a SWOT Analysis” box to start developing the SWOT analysis. (Chart is attached)
PATHWAY TO ... DOING A SWOT ANALYSIS
_ What advantages does the product or service offer?
_ Do the owners or managers have expertise in this business or industry?
_ Can a patent be obtained to protect the idea?
_ How much will developing the product cost?
_ Is getting suppliers going to be difficult?
_ Will launching this business require learning the industry from the ground up?
_ Does this idea take advantage of a new technology?
_ Is this product or service in demand?
_ Have changes in policies or regulations made the idea necessary?
_ Is this a new product or service?
_ Does the product or service have established competitors?
_ Can competitors sell the product or service for less?
_ Will changes in technology make the product obsolete?(Holden 71-72)
Holden, Greg. Wiley Pathways E-Business. Wiley, 03/2008. VitalBook file.
Response should be no less than 2-3 pages (not counting the cover page and references page), supported with credible references and submitted in a APA format.
You must submit your assignment as a Word doc attachment on the Assignments tab for the week. Assignments submitted via email or the Messages tab will not be accepted.
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