Relationship between SWOT analysis and Value Chain management

Use the Bible and other sources to provide biblical application of SWOT Analysis and Value Chain Analysis as it relates to the strategic allocation of financial resources. Use the paper below and include what is requested above. All resources need to be done in this format as an example : Drollinger, T., Comer, L. B., & Warrington, P. T. (2006). Development and validation of the active empathetic listening scale. Psychology & Marketing, 23(2), 161-180. https://doi.org/10.1002/mar.20105

Paper used to help guide:
Relationship between a SWOT analysis and Value Chain management
Both the SWOT analysis and value chain management are crucial to the success of a company. SWOT, an acronym for Strengths, Weaknesses, opportunities and Threats, helps evaluate and elevate the company’s performance (Phadermrod et al., 2019). On the other hand, value chain management is the process of monitoring and managing the operations of the company, including manufacturing, procurement, production, quality control and distribution (Zamora, 2016). SWOT analysis provides a framework that analysis the external and internal factors affecting the business operations. The value chain provides ‘value’ for the product, and the value increases depending on the production chain (from production to distribution).
SWOT analysis has many benefits for the company. For instance, it helps in assessing the company’s strategic situation in a detailed yet brief manner. It mainly analyses the internal operations of the company in regards to the external environment. For instance, analyzing how a company can take advantage of its competitors depends on the company’s internal factors (Phadermrod et al., 2019). Hence, SWOT analysis the company’s own Strengths and Weaknesses. Evaluating the weaknesses helps the company make relevant and meaningful changes to help sustain itself regarding competition. It also analysis the Opportunities that the market presents and the Threats posed by the competitors or other factors of production.
On the other hand, the value chain looks at the chain of production and analyses how the input (labour and raw materials) affect the company’s output (finished products). Its main aim is to analyze how input can be improved to increase the value of output (Zamora, 2016). For the satisfaction of its target market. It also analyses what customers value the most in terms of the quality and price of the product in regards to other competitors offering similar products.
Typically, there exist several relationships between SWOT and the value chain within a company. First, the internal analysis of SWOT gives little information concerning the internal business environment. It only gives the Strengths and Weaknesses of the company, leaving out a lot of information about the company’s operations. Value chain hence provides more information left out by SWOT analysis, thereby creating a complete picture of the financial and operational situations of the company (Irfan et al., 2020). Conversely, value chain analysis the needs and desires of the customers and attempts to create more value for the product. SWOT analysis of both the internal and external business environments, thereby giving a broader picture of the company’s operations. Combining the two gives a complete picture of the company and exposes areas that need improvement for better customer experience and the company’s success. Thus, the relationship between value chain and SWOT is they offer a combined analysis of the company’s operations (Irfan et al., 2020).
The value of a product can also be increased through outsourcing. Outsourcing entails sub contacting some of the company’s operations to other companies, foreging or domestic, that offer a substantially lower price. Outsourcing is an integral part of the value chain, as getting cheaper and specialized labour for the company’s operations is helpful in increasing the value of the final product (Globerman & Vining, 2017). SWOT helps in evaluating whether the option of outsourcing is beneficial to the company’s operations in terms of the financial implications. For instance, SWOT analyses the Strengths and Weaknesses of using an external company to help in production and its advantage on the company. It also looks at the opportunities it may present in terms of initiating more outsourcing activities for the company. However, if the Threats outweigh the Opportunities and Strengths of outsourcing, then it no longer becomes a viable option. Hence, SWOT helps evaluate some of the elements of the value chain by generating a broader perspective in terms of its pros and cons.

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.