Week 1 Discussions And Required Resources Assignment

Week 1 Discussions And Required Resourcesassignment Must Be At Least 2

Week 1 Discussions and Required Resources Assignment must be at least 200 words unless otherwise noted. Please read all attachments and follow ALL instructions. To receive full credit you must include at least 2 citations of scholarly support to your answers for each discussion post (i.e. Discussion One - 2 citations, Discussion Two - 2 citations). Citations should be within your post and include (Author, year, page number) if you are using a quote, page number is not required if you are paraphrasing. Just listing references and not using them in your post does not count as a citation or support. You can use your textbook as scholarly support and remember to include a reference for the support cited. In your responses to the discussion questions, journals, assignments and the final paper please avoid contractions. Examples of contractions - I'm, I've, isn't, hadn't and all the rest. Also, avoid etc since we do not know what it is. Avoid starting a sentence with "And." The usage of the above mentioned would result in a lower grade.

The simulation learning experience will consist of the following: You will be managing and leading a business, called HISCO (in the Medical Equipment Industry), for an entire year (four quarters) and will have to deal with numerous issues in balancing short- and long-term priorities. The terms Qtr. 1 and Q1 are used interchangeably throughout and refer to Quarter 1 of your business. You will have a wide variety of resources at your disposal (Help Desk, faculty, review videos, and data).

There will be a pre-test to ensure that you are prepared for the year, Quarterly and Annual Operating/Business Reviews, and finally, the development of an annual report after you have lived the excitement of creating the results through your decisions each quarter. Playing a quarter competitively and analyzing results of your decisions will be the primary source of formal knowledge. Naturally, you will be expected to keep up with the weekly activities which build upon each other. There is a need to present peer review Journal articles for the discussion questions, assignments and final paper.

Components of a SWOT Analysis Prior to beginning work on this discussion, complete the Week 1 Pre-Test, watch the Simulation Overview Video Part 1, and the video from your Chairman Stan Sloan after you have logged into the simulation. In 150 words or more, what information or detail is important to add to a SWOT analysis in general? How can a complete SWOT help a company succeed? These thoughts should be qualitative and generic - not discussing/providing specific applications of how you may have gleaned competitive advantage (e.g., listing the SWOT components applicable to Hisco). Journal Entry Include a cover page and 1 page reflection regarding what learnings you've taken away from the week's activities, readings, videos, and other information you found noteworthy. Critically consider the challenges you faced in becoming familiar with the simulation, making operating decisions, and analyzing the Strengths, Weaknesses, Opportunities, and Threats faced by HISCO. Lastly consider how to apply lessons from Week 1 to your career field. Every job that you perform for your employer has budgetary and time constraints. Often choices have to be made about the quality of the project. There is only so much money that can be dedicated to your position within the company and the tasks that are assigned to you. Consider how budgeting impacts the work that you perform.

Required Resources Articles Holtzman, Y., Gorkhover, G., & Ganz, M. (2015, January 12). The U.S. medical device industry: Strengths, weaknesses, opportunities, and threats . Retrieved from · The full-text version of this article is available through the website link. This article provides information about the medical device industry in the European Union and will assist you in becoming more familiar with the industry in the real world. The article will give the student a very good example of verbiage included in a published SWOT analysis. In Week 1 students will create and submit a SWOT analysis of HISCO. The article is found through an internet search of the medical device industry. Maresova, P., Penhaker, M., Selamat, A., & Kuca, K. (2015). The potential of medical device industry in technological and economical context . Therapeutics and Clinical Risk Management, 11 , . doi:10.2147/TCRM.S88574 · The full-text version of this article is available through the EBSCOhost database in the Ashford University Library. This article provides information about the importance and the development of the medical device industry in the European Union and will assist you in your thinking as you develop your straetgy this week to be submitted along with your SWOT. The article will expand your knowledge of the industry. Savickas, Mark L. (2003, September). Introduction to the special issue . Career Development Quarterly, 52 (1), 4-7. doi:10.1002/j..2003.tb00621.x · The full-length version of this article is available through the Ebscohost database in the Ashford University Library. This article provides information about and will assist you in your analysis for a SWOT creation assignment in Week 1. The article serves as a good example of the verbiage used in a SWOT. Required Technology Website “Growing Your Business†– A Management Simulation . This website is where you will conduct your readings and work to complete the Current Status of Hisco Pre-test and the SWOT and Strategy assignment.

Paper For Above instruction

A SWOT analysis is a strategic planning tool used by organizations to identify internal strengths and weaknesses, as well as external opportunities and threats. Incorporating comprehensive and accurate details into a SWOT analysis is essential as it helps organizations craft strategies that are aligned with their internal capabilities and external environment. In general, adding pertinent information such as organizational resources, core competencies, market position, and operational efficiencies enhances the internal analysis of strengths and weaknesses. On the external side, trends in industry, competitive landscape, technological innovations, regulatory changes, and economic factors should be included for a thorough understanding of opportunities and threats.

Effective SWOT analyses facilitate companies in leveraging their strengths to maximize competitive advantages while minimizing weaknesses that could hinder growth. Recognizing opportunities allows firms to expand or innovate, while understanding threats prepares organizations to develop contingency plans. For example, a company aware of emerging technologies can invest in R&D to capitalize on predicted industry shifts or defend against competitive encroachments. Overall, a complete SWOT provides a strategic lens through which organizations can make informed decisions, allocate resources effectively, and set realistic goals, ultimately contributing to long-term success and sustainability.

Including both qualitative and quantitative data enriches a SWOT analysis, fostering a more nuanced perspective of organizational positioning. Qualitative insights, such as company culture or leadership quality, complement quantitative data like market share or financial ratios, helping leaders identify prioritized actions. For instance, a robust internal culture with strong leadership constitutes an internal strength, while market saturation represents an external threat. This balanced view enables strategic agility and better risk management, essential for adapting to competitive pressures and industry changes (Holtzman, Gorkhover, & Ganz, 2015; Savickas, 2003).

Moreover, a comprehensive SWOT analysis informs strategic decision-making by highlighting areas requiring improvement and potential avenues for growth. It facilitates alignment across departments, ensuring that organizational initiatives respond to external opportunities and mitigate threats while building on internal strengths. Regularly updating a SWOT analysis helps organizations remain agile in dynamic environments—crucial in fast-evolving sectors such as medical devices. For industries like HISCO, a well-rounded SWOT can identify technological advancements, regulatory shifts, and market demands, guiding strategic investments and operational adjustments that foster competitive advantage and organizational resilience (Maresova, Penhaker, Selamat, & Kuca, 2015).

References

  • Holtzman, Y., Gorkhover, G., & Ganz, M. (2015). The U.S. medical device industry: Strengths, weaknesses, opportunities, and threats. Retrieved from [URL]
  • Maresova, P., Penhaker, M., Selamat, A., & Kuca, K. (2015). The potential of medical device industry in technological and economical context. Therapeutics and Clinical Risk Management, 11. https://doi.org/10.2147/TCRM.S88574
  • Savickas, M. L. (2003). Introduction to the special issue. Career Development Quarterly, 52(1), 4-7. https://doi.org/10.1002/j.2161-0045.2003.tb00621.x

Related Assignments