Strategic Plan Swott Analysis

When forming a strategic plan for a new or existing business it is important to perform a SWOTT analysis. A SWOTT analysis is a tool utilized for evaluating the health of a company. It helps companies to identify, classify, and prioritize external and internal elements that have an influence over the company and the decision making process. For existing businesses SWOTT is used to evaluate their market standing regarding their share of the market, competitive edge as well as complete feasibility (Pearce III & Robinson, 2013). Through a SWOTT analysis of Macy’s, Inc. the external and internal analysis will identify the strengths, weaknesses, opportunities and threats of the company and its relation to trends such as: Economic, Legal and regulatory, Technological, Innovation, Structure, Strategy, and the Processes and Systems. The main elements of a SWOTT analysis can be split up between the external and internal elements.

This paper illustrates a detailed assessment of external as well as internal elements and trends which can have an effect on the business of Macy’s, Inc. Because of the SWOTT analysis, the administration of Macy’s, Inc. can evaluate the main elements which can influence the feasibility, establishing competitive advantage as well as stakeholders’ satisfaction for the company (Pearce III & Robinson, 2013).

External Environmental Analysis

A lot of exterior elements might have an influence over Macy’s, Inc’s. ability to accomplish its objectives as well as its goals. To be successful Macy’s, Inc. will need to find an appropriate strategy which can maintain the business anticipations in the real situations and also to keep Macy’s, Inc. expectations with the provisions the exterior environment can provide. The exterior factors incorporate: legal as well as regulatory elements, economic elements, technological elements, and innovation elements.

Legal and Regulatory factors: This element has the full capacity to aid with the company’s strategic...