SWOT analysis is commonly used to assess internal attributes
When conducting strategic planning, the SWOT analysis is commonly used to assess internal attributes and external environmental factors across four dimensions: organizational strengths, organizational weaknesses, opportunities for the organization, and threats to the organization. In this assignment, you will conduct a SWOT analysis to evaluate one of Costco’s competitors.
Instructions
1. Choose a company that competes with Costco; conduct research about the company using any resources that contain relevant information
2. Use a SWOT template to evaluate the company
• Describe the company’s current strengths, weaknesses, opportunities, and threats
• Project the company’s long-term (future) strengths, weaknesses, opportunities, and threats
3. Based on your research findings and the results of your SWOT analysis, use critical thinking to make and defend at least one recommendation for ways the company can improve its strategy in each of the four dimensions by:
• Maximizing current organizational strengths
• Minimizing current organizational weaknesses
• Increasing the number or quality of potential opportunities for the organization
• Minimizing the number or severity of potential threats to the organization
4. Based on your findings and the results of your SWOT analysis, summarize the business strategy of the chosen company and use examples to support your conclusions
5. In 300-400 words, double-spaced, respond to Questions 3 and 4 and submit with your SWOT analysis
Sample Solution
Founded in 1983, Costco is a membership-only wholesale retailer that offers everything from food and sundries, hardlines, fresh foods, soft lines, and ancillary. Apart from Walmart and Amazon, Costco faces stiff competition from regional and international retailers. With over 11,500 stores globally, Walmart is the largest retailer chain in the world and the top Costco competitor in 2021. The retail giant was founded in 1962 by Sam Walton and now employs over 2 million people across 27 countries. This Walmart SWOT analysis reveals how the largest company in the world uses its competitive advantages to dominate and successfully grow in the retail industry. It identifies all the key strengths, weaknesses, opportunities and threats that affect the company the most.
