Complete a SWOT analysis for the selected industry. The SWOT analysis allows a business to understand how a competitor is positioned in the environment by assessing its strengths, weaknesses, opportunities, and threats. An understanding of a competitor's position can be a key for a business to determine where funding and resources should be allotted to create new products or services.
Use information in the industry profile overview and other scholarly sources as needed. The SWOT analysis should include each of the following:
Strengths
Weaknesses
Opportunities
Threats
Write a 1,050- to 1,400-word paper, including the following attributes:
SWOT analysis, including a SWOT chart
Identify opportunities (either product or service) that could improve the customer experience.
Strategy evaluation
Define strategic tasks.
Assess the industry's capabilities.
Identify the barriers to strategy implementation.
A response to the following:
Based on the SWOT analysis and strategy evaluation, what are some creative actions the industry can pursue to include innovation as a component of their strategy?