How to Develop a Strategic Profile, What it Entails & SWOT Analysis

this with the company image by Yuriy Rozanov from Fotolia.com

Strategic profiles provide information about an organization's history, product and service offerings. Consumers can utilize strategic profiles to learn about the mission and vision of a company. Organizations develop strategic profiles to assess past performance and identify internal weaknesses. Strategic profiles also provide an overview of external factors that may affect business growth. Together, strategic profiles and strategic objectives provide direction to help organizations reach their goals.

Strategic profiles provide information about an organization's history, product and service offerings. Consumers can utilize strategic profiles to learn about the mission and vision of a company. Organizations develop strategic profiles to assess past performance and identify internal weaknesses. Strategic profiles also provide an overview of external factors that may affect business growth. Together, strategic profiles and strategic objectives provide direction to help organizations reach their goals.

Building your strategic profile

Internal analyses are apart of strategic profiles.
business graphs image by Chad McDermott from Fotolia.com

Gather company background information. Provide a brief overview of company history, including its origin, past sales figures and growth. Create an outline of internal and external factors that have added to or taken away from the success of the business.

.

Mission statements must be clear and concise.
business area image by Darko Draskovic from Fotolia.com

Compose the mission and vision statement. The mission statement represents the purpose of the business and how it meets the need of the client. For example, Fannie Mae's mission is, "To strengthen the social fabric by democratizing home ownership." A vision statement also depicts the future of an organization. For instance, McDonald's vision statement is “To dominate the global food service industry."

Identify your target market.
magnifying glass image by Rog999 from Fotolia.com

Write the situation analysis. Situation analyses describe the general, industry and competitive environments. The general portion of the situation analysis discloses the market the business serves. The industry section notes industry growth and existing conditions. Lastly, the competitive segment identifies the business's competitors in addition to services and/or products they offer.

Strategic profiles help businesses succeed.
success 1 image by Gale Distler from Fotolia.com

Conduct a SWOT Analysis. The acronym "SWOT" stands for strengths, weaknesses, opportunities and threats. A company's strengths and weaknesses, or internal issues, may be the lack of qualified employees or scarcity of financing. Opportunities and threats, or external factors, pose as obstacles to business growth. Examples of opportunities include new markets, new customers and advancements in technology. However, threats present themselves as competitors or anything external that can hinder the flow of revenue.

References

  • Strategic Planning for Dummies; Erica Olsen ; 2007

Resources

About the Author

Marcus Cage began writing professionally in 2008. His work has been featured in magazines such as “COFFEA Magazine” and “Simply Amazing Organizing.” He has also been the creator and distributor of business materials. Cage holds a Bachelor of Science in business administration from DeVry University.

Photo Credits

  • this with the company image by Yuriy Rozanov from Fotolia.com