Strengths and Weaknesses, Core Competencies

Compnay chosen is “Nubian Heritage. Product is incense.Overview: This milestone defines an organizations core competencies, key strengths, and key weaknesses, as well as threats and opportunities to consider when bringing a new product/service to the marketplace. These are important because they affect the strategic management process. The organization makes business decisions to capitalize on strengths, while avoiding potential dealings in which organizational weaknesses could compromise success. Core competencies are defining capabilities that provide strategic advantages because the competition cannot easily duplicate them. These relate to the final project because they provide the foundation for the launch and continued growth of the organizations brand and success in the dynamic marketplace. They provide guidance that will go beyond the current product or service presented in the business plan. Prompt: Use headings within your paper that correspond with each portion of the rubric in bold.
Specifically, the following critical elements must be addressed:
Strengths and Weaknesses For the Nubian Heritage, consider the following:
    o Identify and assess 4 to 8 of each of the following: strengths, weaknesses, opportunities, and threats that may affect new business activities or offerings.
o Identify emerging consumer trends and explain how they influence the branding and success of your new product or service.
    o Analyze how perceived ethics violations might affect the branding and success of your new product or service. o Assess how all of the SWOT and ethics factors holistically affect your branding and operations within the organization.
Core Competencies for Nubian Heritage, consider the following:
o Identify and explain 3 to 5 core competencies. Assess how and why the competencies differentiate your company from the competition and provide forward momentum for your new product or service offering.
o Assess how the core competencies will affect the business plan.
Writing When drafting your paper, consider the following:
o The writing should be clear and correct. There should be no major errors of grammar, spelling, organization, or citation style. o Remember to use headings within the paper that correspond with each portion of the rubric.
Helpful information to following
Strengths and Weaknesses happen “inside” the company.
Strength; strong financial portfolio – Management team is excellent
Weakness: no marketing plan for the product, no budget for advertising
Opportunities and Threats happen “outside ” of the company.
Opportunities: global distribution
Threats: government restrictions on imports.
Please remember that clear and distinctive positioning that differentiates a brand from others with which it competes is essential for developing a winning marketing strategy
Strengths
Strengths are internal, positive attributes of your company. These are things that are within your control.
    What business processes are successful?
    What assets do you have in your team, such as knowledge, education, network, skills, and reputation?
    What physical assets do you have, such as customers, equipment, technology, cash, and patents?
    What competitive advantages do you have over your competition?
Weaknesses
Weaknesses are negative factors that detract from your strengths. These are things that you might need to improve on to be competitive.
    Are there things that your business needs to be competitive?
    What business processes need improvement?
    Are there tangible assets that your company needs, such as money or equipment?
    Are there gaps on your team?
    Is your location ideal for your success?
Opportunities
Opportunities are external factors in your business environment that are likely to contribute to your success.
    Is your market growing and are there trends that will encourage people to buy more of what you are selling?
    Are there upcoming events that your company may be able to take advantage of to grow the business?
    Are there upcoming changes to regulations that might impact your company positively?
    If your business is up and running, do customers think highly of you?
Threats
Threats are external factors that you have no control over. You may want to consider putting in place contingency plans for dealing them if they occur.
    Do you have potential competitors who may enter your market?
    Will suppliers always be able to supply the raw materials you need at the prices you need?
    Could future developments in technology change how you do business?
    Is consumer behavior changing in a way that could negatively impact your business?
    Are there market trends that could become a threat?

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