Informing future development:
A business that does not adopt, develop and grow will quickly find itself left behind by the competition. A business will not launch a new product unless they do not have all the information they require like information about all the sales. To launch any product certain research or information is required. Washwood heath Technology College has all the information required if they want to introduce a news subject for students or even if they want to hold up some events for their students.
Strategic direction and SWOT analysis:
Strategic management is the process by which organisations determine their purpose, objectives and desired level of attainment. It helps an organisation decide on actions for achieving these objectives in appropriate timescale, and frequently in a changing environment. To establish strategic direction business requires information through both internal and external means. A SWOT analysis is used for auditing an organisation and its environment. Washwood heath Technology College has strategic management which manages the objectives of the school for the students and the staff members in there.
SWOT_ strengths, weaknesses, opportunities and threat
STRENGHTS: The strength can be a new product introduced by the business. It is the location of the business. It can be the quality processes and procedures. It can be any other aspect that can add value to the business. The strength of washwood heath Technology College is the courses or the subjects introduced by the school. It can be the location where the school is located. There is a large number of community living surrounding the school which means it is easy for the people to reach it. The strength can be the quality of education the school provides and allows the students for re-takes of their gcses exams so they can give it another try.
WEAKNESSES: The weaknesses of a business can be the lack of the marketing expertise. Another weakness can be undifferentiated products or services like if your product is not better than your competitors or it’s just the same as your competitors then it’s a weakness. The location of your business if it’s not in a suitable place can be a weakness for your business. If the business has poor quality good-service, then it’s a weakness for the business. A damaged reputation of the business can lead the business down. If washwood heath Technology College has a damaged reputation in the community around then there won’t be enough students in the school. If washwood heath Technology College is giving the same services or is not providing some unique services for the children there won’t be a lot of students in it because of the same services being provided. If washwood heath Technology College was not located where it is located now it would have not been very well known.
A business should have a developing market like internet selling products on the internet. There should be mergers, joint ventures or strategic alliances. A business can have an opportunity by moving into new market segments that offer improved profits. If a new international market is introduced it will be a greater opportunity. A market vacated by an ineffective competitor is one great opportunity. Washwood heath Technology College can have its local site and develop more interest in other people so more students move to that school.
A threat is a new competitor in the home market. Price wars with the competitors are threats. A competitor with an innovative product or service. Competitors having superior access to channels of distribution are a threat. If taxation is introduced on a product or service it’s like a threat. If washwood heath technology college is closed by the government due to some issues that is a threat. If more schools are opened in the same community that is a threat to the school.
Offering competitive insight:
A business needs to be aware of what their competitors are doing, to make sure they do not fall behind and loose sales and market shares. Regular research is very useful as it keeps one updated with the competitor’s sales. Some large businesses have a section of their marketing departments dedicated to analysing competitor activity. Washwood heath Technology College has a chart which compares the results of their school with the other schools around. Washwood heath knows if their competitors have done better than them or not.
Communicating sales promotion:
Businesses use a variety of information and methods to communicate sales promotions to customers. They place information about products, services and special offers on their websites and have newspaper and journal adverts, and television and radio adverts. Good market research information will offer an insight into the behaviour patterns of the customers and their buying motivation. Information can help businesses to promote their goods. Washwood heath Technology College collects information about the results of the other schools as it helps them a lot. They try to improve their standards according to that information.
Inviting support for activities:
Information is also required and needs to be communicated in order to support business activities. The support has to come from inside and outside the organisations. For example, the business may wish to change the way it operates to it make more efficient; this must have support of the workforce. Clear information will have to be given to the staff, explaining why the business needs to move in this direction. Washwood heath Technology College informs the staff about all the changes taking place in the school. The school takes support from inside and outside the business. The teachers and every member in their helps out. The external support is also taken.
SOURCES OF INFORMATION:
Internal information is the information which is already present in the school. Internal information could come from a variety of sources within the organisation. A lot of departments will store information about the members in their department. Washwood heath Technology College stores information about the students who had been studying in the school before. It keeps a record of all the teachers what subject they have been teaching and what day they started school and when did they leave school.
Finance: Finance will have wealth of information relating to company performance, such as profit and loss figures, the balance sheet, cash flow information and the costs of running the business. Washwood heath technology college has a record of how good their results have been and what benefits have they got with that.
Sales departments: Sales departments will often store information about customers, as well as sales records for the organisations existing products and services. Washwood heath Technology College has information stored about its old staff.
Human resources: Human resources can provide information about the staffing and training within the organisation, such as staff turnover, number of employees, skills available, training needs and projections for future employment. Washood heath Technology College has some demands before hiring staff like the skills and that.
Production: Production will be able to give details of production costs, along with past and possible future levels of production. This gives details of the sort of results produced at washwood heath Technology College.
Marketing: Marketing can give information about the results of research undertaken by the company, the success of previous marketing campaigns and promotional activities, as well as information about the market the organisation currently operates within.Washwood heath technology college has information about how well they have done compare to the other schools around.
Customer services: Customer services can tell you what customers think about the business and give you information on how customers have responded to existing products and services. Washwood heath Technology College responds to the needs of the community and the pupils of the school.
External resources are the resources used from outside the business. The information which is brought from outside or which already does not exist in the business. External data exists in the form of published materials, collected by someone else outside the company.
They are supplied by, among others, the ONS (office of national statistics), the DTI (department of trade and industry), and the OECD (organisation for economic development). The government sources are useful for washwood heath technology college, they can find out the results for other schools and the skills other schools are using so compare to them they can do better.
Trade groupings are groups of businesses from the same industry or marketplaces that provide a service to representatives of their industry. They can act as pressure groups to initiate positive change for their industry. They also publish trade journals. These are published by leaders in the industry. This can help washwood heath Technology College find out about management of the schools and what their school is lacking and what can they do to do better.
Commercially provided databases:
Many private research organisations specialise in building up databases of people who are known to have interest in certain products and services. There are many market research agencies where lists may be purchased by businesses that wish to target these customers via direct mail. This can help washwood heath technology college they won’t have to do any research to find out about who has got interest in their school that will be already done for them.
Research is gathering of any data, information and facts for the advancement of knowledge. Organisations conduct research to find out about their markets, views of their staff. The purpose of any market research project is to achieve an increased understanding on the subject matter. Market research is very helpful to washwood heath technology college it helps them find out what rank are they standing on and their competitions with others.
Reliability of data sources:
While gathering information the important thing is that if the gathered information is accurate or not. Many newspapers have printed articles with the agenda that influences the way they interpret information. Information on internet should be treated with more caution. Washwood heath Technology College makes sure the information is reliable and valid before they used it because that’s only how information can be used in the best way.