21-03: Swot analysis

Question 1

Defining the corporate mission

Answer 1

 A mission statement is a statement of the organization’s purpose—
what it wants to accomplish in the larger environment
* The mission should be based on a company’s distinctive competencies
 A clear mission statement acts like an “invisible hand” that guides
people in the organization
* Studies have shown that firms with well-crafted mission statements have better
organizational and financial performance

e.g.) A hotel’s mission statement:
We wow each other and our guests with Whatever/Whenever experiences
beyond their imagination and a never say no attitude.

• What is our business?
• Who is the customer?
• What do customers value?
• What should our business be?

Question 2

Situational analysis

Answer 2

“ To where are we going from here? ”
5
 The step of identifying the current situation(from here) and
determining the final destination (to where) the service firm should
go (goal setting)

Question 3

Internal analysis

Answer 3

Company analysis:
An intensive evaluation of the businesses’ objectives, capabilities, vulnerabilities, and status.