SWOT Analysis: Strategic Competition

Introduction

This paper will introduce possible consulting ideas that one could use to assist a firm that manufactures titanium alloys for industrial and military applications to establish a strategic alliance with a competitor. The preliminary discussion will include how the external environment, SWOT, corporate governance, and alliance will assist in establishing a strategic alliance with a competitor. In addition, this paper will consider the possible risk of establishing an alliance with the competitor and how to possibly minimize those risk.

Preliminary Discussion As the consultant, consider the firm’s competitive external environment and how best to work within the preferred industry (Boso, Cadogan, Micevski, & Kadić-Maglajlić, 2013).

This tool strategically identifies the strengths, weaknesses, opportunities, or threats to the firm existing or new business ventures (Lee, 2015). The use of SWOT may compel management to engage further in developing a proper strategy and business plan based on their findings. Although, sustaining the strategic management process may prove to be very difficult. This is why for existing or new business ventures SWOT analysis is useful in evaluating the internal and external environments to assess possible competitors to decide whether or not a business venture is worth the time or money, and if the market will be profitable (Lee,

Assuming, an organization follows the regulations of corporate governance principles, which maximizes profits and enhances stakeholder’s interests that accommodate the shareholder value (Madhani, 2015). There are no guarantees that if a firm implemented the concepts of corporate governance there would not be any unethical business practices; however, if these concepts were properly implemented corporate governance may improve the functionality of an organization (Verhezen and Morse, 2009).

With concerns of ethics is it worth having an alliance with another company? Alliances can have benefits with many advantages but the risk can increase when entering unknown markets. As a consultant, implement a reasonable alliance strategy taking consideration all of the and pros and cons (Park, & Kang, 2013). For instance, consider the clients cost and benefits as well as the perceived competitors. If this alliance is needed for the client make sure that the competitor is provided with enough information to make an informed decision.