Conceptualization of Business Balanced Scorecard Sweet Pea Essay

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Conceptualization of Business

Balanced Scorecard Sweet Pea Catering

Sweet Peas Catering Services

Irene Colon

The SWOT analysis is an approach that is usually integrated any mostly involves companies and the environmental surrounding analysis. The process is aimed at ensuring there is critical observations of the processes going on in the company, including the strengths and weaknesses of the organization, in most cases business firms. Opportunities and the threats the organization is exposed to are also analyzed, in a specially structured and integrated manner (Bohm, 2009).

SWOT Analysis for the Sweet Peas Catering Services

Analysis Factor

Expected Outcomes

STRENGTHS

Legality and regulatory compliance-Sweet Peas Catering Service should ensure its compliance to the laws and regulations governing organizations (Business entities) in its location. This is important and mandatory, to mitigate the company from any litigations in relation to the laws provided in the Companies Acts. Complying with the laws provides the company better stance and ability to relate well with the government, and includes crucial elements, such as tax compliance, which is a major income generator for the government.

Economic situations- The company's should be ready to understand the economic trends and prevailing market situations, which count a lot in terms of profit maximization. As the company is in its conceptualization process, there is a dire need to compare its potential, using similar businesses that are already established in the same field. If the organization is the first of its kind, then there are high prospects for risk taking, which is a norm in the business arena. The country's economy should be stable for better chances of great results in business.

Technological issues- with the current globalization rates, technology is important in daily business transactions conducted in firms. Sweet Peas Catering Services should ensure adaptation of the necessary technological equipments, including communication and safety gadgets that will come in handy when managing the firm's transactions.

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This is an era of the technological revolution, and any smart business owners are fast in ensuring they update their firms with the most recent technological tools.

Social aspects- The business firm is supposed to ensure it involves itself in social responsibility. This includes building the right relationships with the community and offering services that will fully benefit the society. Any organization undertaking measures that are hardly community friendly are prone to resistance from the surrounding. Sweet Peas Catering Services is already realizing this goal, as it plans to offer the preferable organic food to students who are already suffering obesity illnesses and other chronic diseases. The company is also ensuring there is sensitization of the community on the advantage of organic food compared to the fatty and junky foods prepared in learning institutions.

Organization structure- An organization like Sweet Peas Catering Services has to select and adopt a structure aimed at protecting employee needs, in case the organization will have them. The rigid hierarchical structures, which were not ready to integrate change, and had the sophistication in their communication channels, are far gone. Sweet Peas Catering Services (SPCS) should adopt a simple structure that allows employees to contribute to its welfare through well formulated communication channels.

Culture- All firms have certain ways they do things such as relating to clients and safeguarding the employee's interests. Culture is implemented during conceptual stages of the organization and, therefore, SPCS should ensure it maintains the right culture, which will motivate its workers to better performance.

Strategy- SPCS has to implement unique strategies for its survival in the market. This….....

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