Internal Analysis and SWOT Analysis: A case of J.M. Smucker Company
In this paper, we are going to analyze the Strategic Management, paying more attention on Internal Analysis and SWOT Analysis. This paper uses the information from J.M. Smucker Company in the application of the SWOT analysis. we are going to use SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to get a clear insight of the company. The SWOT analysis is a very important practice that helps the business to know where it is going and how far it has come from (Böhm, 2009:2).
According to Marketing teacher (2010), strengths and the weaknesses forms the internal part of the issues relating to an organization. On the other hand, opportunities and the threats present the external factors affecting the operations of an organization. Zahorsky (2009) posits that the SWOT analysis helps a company to look beyond where it is and focus on its visions. Zahorsky (2009) commented that SWOT analysis is the tool for business which is available in the tool box of every business. It can also be viewed as a tool for auditing an organization and its environment (Marketing teacher, 2010). It is therefore advisable for every business to apply this analysis in its strategic management. SWOT analysis is very useful in assisting the companies in overcoming their competitors. Companies like JM Smuckers, whose competitors are located all over the world will find this form of analysis very useful in maintaining the company at a position ahead of its competitors.
In this analysis, we are going to use Resource Based View Framework. This is a method applied by companies in determination of the resources that are available to the company (Henry, 2007:126). This principle attempts to determine the intensity of utilization of the available resources by different companies.
Economic value of J.M. Smucker Company
J.M. Smucker Company is a company in North America which deals...