The Great Reef

The purpose of this paper is a synopsis that the owners of The Great Reef will analyze seven of the forces and trends that The Great Reef must take into consideration including economic, legal, and regulatory. The paper will describe how the company adapts to changes, and analyze the supply chain operations. By identifying the major issues or opportunities that the company faces with the synopsis, the author can generate a hypothesis surrounding each issue and research questions. The paper will conclude by identifying the circumstances surrounding each issue, classifying the circumstances; attributing the importance of each classification; and test the accuracy of the importance for each classification.

Strategic Planning is a tool the organizations use to concentrate its energy, to ensure that the workforce and all members of the company are working toward the same goal previously establish. The primary purpose of strategic planning is to assess and adjust the organization’s direction in response to a changing environment. Strategic planning is necessary to allow the firm to keep its competitive advantage, and that is what makes the difference on successful companies. For The Great Reef, a specialty pet store in Northwest Indiana, the administration understand the importance of strategic planning to pursue the goals previously set and to make sure the workforce meets the standards of the organization. Because The Great Reef will be a new business venture and analyzing the community to see if the public is in need of this type business is the first step. The main tool in order to get started with this business venture is a SWOTT analysis, which helps give a picture of the internal and external forces and trends. SWOTT is a short-term for Strengths, Weaknesses, Opportunities, Threats, and Trends that any company faces. Pearce & Robinson (2009) states,” It is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats).” Besides the forces and trends already mentioned by the author, the SWOTT analysis will include social, technological, competitive analysis, processes and systems, and innovations.

External forces and trends

Legal and regulatory- These forces are fundamental for daily operations of The Great Reef, due to the fact that the health and the welfare of the animals are involved and are clearly stated in the regulations and laws set forth by the State of Indiana Board of Animal Health. Pearce& Robinson (2009) states, “Political factors define the legal and regulatory parameters within which firms must operate.” Acquiring the required licenses is essential because otherwise the business would not be able to operate and could be penalized.

Economic- This is considered a strength trend within this company. Economic trends can