PERFORMING SWOT ANALYSIS DEFINITION SWOT analysis is a general technique that can find applications across diverse management

functions and activities, but it is particularly appropriate to the early stages of strategic and marketing planning. Performing a SWOT analysis involves identifying and recording the Strengths, Weaknesses, Opportunities, and Threats concerning a task, individual, department, or organization. The analysis typically takes into account internal resources and capabilities (Strength and Weaknesses) and factors external to the organization (Opportunities and Threats). ADVANTAGES SWOT analysis can provide: A framework for identifying and analyzing strengths, weaknesses, opportunities, and threats; An impetus to analyze a situation and develop appropriate strategies and tactics; A basis for assessing core capabilities and competences; The evidence for, and cultural key to change; A stimulus to participation in a group experience.

DISADVANTAGES Some commentators argue that SWOT analysis is an overview approach unsuited to todays diverse and unstable markets. They also suggest that it can be ineffective as a means of analysis because it tends to: Generate long list; Rely on description instead of analysis; Ignore prioritization; Be overlooked in the later stages of the planning and implementation process.

SWOT ANALYSIS OF ADVENT PRESS ENVIRONMENTAL ANALYSIS INTERNAL ANALYSIS Some strategic factors within the Advent Press have been identified as crucial formulation and implementation. These are the strength and weaknesses of the organization. The strengths will be our building blocks to exploit opportunities in the environment and the weakness will challenge us to be better organized and more effective. a) Strengths i) Skilled and dedicated staff The company has skilled and dedicated machine operators who are always prepared to work for long hours to accomplish jobs. ii) Well- equipped finishing department The finishing department is well equipped with relatively new machinery. iii) Effective security system Over the past few years the security unit has been vigilant and effectively safeguard company property /assets. Petty pilferage and organized stealing have ceased. iv) Morning devotions The daily morning devotion before commencement of work promotes unity and a spirit of oneness among staff. The peaceful working atmosphere can be attributed largely to the deep religious background of all the staff. v) Good residential facilities for top management

The company has acquired its own residential accommodation for the top management; these houses are close to the factory and convenient thus enhancing their job satisfaction. vi) Well- equipped offices Offices of the company are well equipped with computers and other office equipment to enable staff work efficiently. The Treasury Department, for instance, has five (5) computers and these help in data collection, analysis and reporting as well as information storage and quick retrieval. vii) Good location The company is located in a well- developed area with all amenities and is easily accessible by road. viii) Good reputation As a Church institution, the Advent Press has a long established reputation as a pioneer printing press and is noted for quality products. The company was adjudged the Best Printing House in Ghana in 1995.

b) Weaknesses i) Old and ill- maintained machinery The companys production equipments are old and there is no planned maintenance schedule for machines. There is inadequate stock of spare parts to carry out repairs and maintenance. The condition of the equipment adversely affects the quality, cost and delivery of products to consumers.

ii)

Unpleasant working environment The factory atmosphere is hot because there is no central air conditioning. The machines and materials are thus open to dust from outside. The factory floor has potholes making it dangerous for the movement of both personnel and materials. The layout of the factory does not facilitate smooth workflow.

iii)

Inadequate financial resources The company lacks adequate working capital to procure inputs to sustain continuous production, and funds to carry out a planned rehabilitation of factory machinery.

iv)

Lack of aggressive marketing The company does not engage in aggressive marketing of its products and services. It has not formulated any marketing strategies to win jobs both within and outside the SDA Church. There is no marketing officer and marketing duties are performed by the General Manager, Treasurer and the Production Manager.

v)

Poor working planning Jobs are not properly planned and monitored to ensure prompt delivery to customers.

vi)

Ineffective quality control Quality of work is not properly managed to ensure customer satisfaction. There is no systematic quality assurance process at each stage of production. The absence of a proof-reader is a serious weakness affecting product quality.

vii)

Ineffective communication Formal communication in the company is inadequate. Oral/verbal instructions and information are the main media of communication. Information flow between management and workers and is not adequate. The absence of an employee handbook aggravates the situation.

viii)

Negative attitude and relationship The factory operates as a fraternity and sometimes this affects discipline among staff. Negative work culture such as lateness, absenteeism, and malingering is prevalent. Relationships between workers and foremen are not good enough to promote productivity. There is lack of clear objectives and targets for attainment at all levels, thus affecting production.

ix)

No publishers The company has no editorial department. It has only few titles of its own and therefore cannot publish and print books as regularly as it should to remain in business. The Press depends solely on customer orders.

x)

Lack of staff training program There is no planned and coordinated program to ensure that knowledge, skills and attitudes are developed to handle work problems and prepare them for succession. Consequently there are a lot of inefficiencies (waste) in the system. For instance, waste allowances, rooted in estimating are too liberal and so set too low a target for achievement.

xi)

Inadequate management depth in printing The present management has a good track record; however the depth of knowhow in printing technology is not adequate to enable the company gain the competitive edge.

xii)

Inadequate motivation There are only few incentives and welfare facilities and these are not adequate to promote worker productivity. Old equipment, unpleasant working environment and lack of training coupled with low financial rewards have led to low morale.

2. EXTERNAL ANALYSIS The external environment presents opportunities for and threats to the company. To be able to adapt to the changes in the environment, the following environmental factors were analysed: a) Opportunities i) VAT will demand record keeping The introduction of the Value Added Tax regime (VAT) effective January, 1999 will compel many organizations to maintain proper records of business transactions. This is likely to result in more demand for printing jobs.

ii)

Organization of trade fair by GTFA The regular organization of trade fairs by the Ghana Trade Fair Authority will afford the Advent Press the opportunity to exhibit its products and thereby attract new customers or be exposed to new technologies.

iii)

Government education policy- FCUBE and NFED The implementation of Governments FCUBE policy will result in more school enrolment and therefore more exercise and textbooks for school children. The literacy programs of the Non-Formal Education Division promote the printing of educational materials.

iv)

Rapid advances in technology Rapid advances in information technology and the availability of modern printing equipment on the international market will enable the company to upgrade its technology and improve data collection, analysis, reporting, storage and retrieval.

v)

Government tourism promoting program The on-going tourism promotion program of Government will open up avenues for printing brochures, leaflets, posters and magazines.

vi)

Availability of printing jobs within the SDA Church Large volumes of printing jobs are available within the SDA Church in West Africa. This can be exploited to the benefit of the company.

b) Threats i) High inflation, exchange, bank interest, import duty Rates: the regular rise in these economic factors and their unpredictability seriously affect the financial viability of the press. ii) Electrical energy crises The electrical energy crises being by Ghana and the associated costs since January 1998 threaten the continued survival and profitability of the company. The high cost of electrical power seriously affects profitability of operations. iii) Award of printing contracts to foreigners The policy of the Ministry of Education to contract school textbooks printing to foreigners limits the scope of printing jobs available to local printing presses. iv) Industry competition The emergence of modern printing houses poses more competition for local printers. v) Trade liberalization The trade liberalization policy of government opens avenues for people to import various stationery, books etc including dumped products.

SWOT ANALYSIS OF PRUDENTIAL BANK LIMITED A Review of the Banks current strategic position The Three-Year Strategic Rolling Plan is preceded by a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis of the Banks current strategic position. Strengths The Banks current strengths are described in sub-sections 5.2.1 to 5.2.9. 5.2.1 Availability of Resourceful Board of Directors 5.2.2 Well trained, motivated and competent staff 5.2.3 Centralisation of Credit Approval 5.2.4 Effective and close monitoring of credit facilities 5.2.5 Competitive pricing of products and services 5.2.6 Saturday Banking Services 5.2.7 Direct door to door marketing 5.2.8 Range of products 5.2.9 Export Development and SME Financing

5.3 Weaknesses 1 Capital Base 2 Rapid Branch Expansion o The Bank is yet to derive the full benefits of the rapid branch expansion. 3 Late introduction of e-banking products 4 High proportion of high cost funds 5.3.5 Insufficient use of Information Technology 5.3.6 Low income generation 5.3.7 Research capability

4. Opportunities There are several opportunities that the Bank will need to exploit to improve upon efficiency and income generation. These opportunities are discussed in sub-sections 5.4.1 to 5.4.7. 5.4.1 High Growth prospects of the Ghanaian economy o The high growth prospects of the Ghanaian economy are expected to continue.

The stable macroeconomic environment has resulted in falling trends in Banks lending rates, increased access to credit and increased foreign direct investments which suggest increased investor confidence in the domestic economy. A growing economy offers opportunities for financing business activities. EDIF fund Advancements in Information Technology Large amount of currency outside the banking system Growing financial literacy Improvement in the regulatory regime for the financial services Industry Expanded Media Landscape.

Threats Intensive competition in the Banking Industry Customer loyalty Impact of Global Financial Crisis New Capital Requirement Fraud and cyber crime