Situation Analysis of the Company Essay Sample

This essay sample is based on a Situation Analysis of the Company for Singapore students. Here we will cover the Situation Analysis: Definition, Importance of situational analysis, Basic components of a situation analysis, Situation Analysis Tools, Characteristics of Situation Analysis, Common Challenges in Situation analysis, etc.

This essay sample was written with Singapore students in mind, but it can help any student who needs an essay on Situation Analysis. If you want to download this paper and approach our experts for custom-made papers according to your needs then please do not hesitate!

Introduction- Situation Analysis of the Company Essay

The concept of “Situation Analysis” is quite an important one in the realm of business and management. Why? We will learn this by the end of this sample essay. In addition to this,  it is also a simple concept to understand. However, it is not an easy one.

Main body- Situation Analysis of the Company Essay

Situation Analysis: Definition

The term “Situation Analysis” refers to the examination of a given company’s position in the market considering internal and external factors. Along with that it also concerns with company’s current as well as potential consumer base and their reaction to the company and its services or products. In addition to this, also takes into consideration the strength of the company and its market impact on it.

Moreover, all the data from the analysis is then used by the company to create a market plan. In turn, this helps the company communicate with potential customers. Furthermore, situation analysis plays a crucial part in building long-term relationships with the consumer base.

Importance of situational analysis

As we already know, the main aim of an analysis is to provide insight related to business in Singapore. This includes the current operations, how they can be improved, opportunities available, chances to grow, and new ways to increase revenue.

Similarly, these analysis is no different. It helps in the development of marketing plans, identification of gaps in the market, new techniques, and technologies, as well as cope with changes in competitions.

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Basic components of a situation analysis

There are different components are involved in this analysis as one might have guessed.  Thus, in this section, we shall be looking at them. So without further adieu:

• Product situation
• Competitive situation
• Distribution situation.
• Environmental factors
• Opportunity and issue analysis
  

  Situation Analysis Tools

  It can be said that “Situation Analysis” is an Umbrella term. We say this because there are several different tools or analyzing systems under this concept. Here, we shall be looking at these tools in this section of the sample essay.  These are, as mentioned below:

• SWOT Analysis
• Five C’s Analysis
• PESTLE analysis
• VRIO Analysis
• Porter’s Five Forces Analysis

Characteristics of Situation Analysis

In this section of the sample essay, we shall be looking at the characteristics of this analysis. These characteristics help determine if an analysis is successful or not.

So these characteristics are, as mentioned below:

• • The analysis should be simple as well as  practical.
  • It must be understandable by other individuals.
  • Analysis should focus on the key concerning factors(Internal and External).
  • It should identify the future objectives of the company.
  • A situation analysis should provide opportunities for further analysis.

Common Challenges in Situation analysis

As with everything there are challenges related to analysis. Here, we shall be looking at these challenges. These are, as mentioned below:

•  Information from the analysis can be confusing.
• This analysis may lack prioritization.
• It is quite wide and hence lacks focus on one point.
• Factors considered in it are not facts but opinions.
• Factors such as Strengths, opportunities, weaknesses, threats, and so on are not clearly distinguished.

Conclusion:

The company is in a difficult situation, but it has great potential for success. It just needs to figure out how to turn itself around before it’s too late. What are some ways the company can do this? We would love to help you answer that question!

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