A SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. According to Helms and Nixon (2010) the origin of the term “SWOT” is unknown; h

A SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. According to Helms and Nixon (2010) the origin of the term “SWOT” is unknown; however, it has grown to be utilized as a key tool in addressing complex strategic situations by reducing the quantity of information which improves decision making (p. 216). SWOT’s have been utilized by many people for different aspects of business where the need to review both internal and external issues is necessary. SWOT’s can be used to address issues related to economic development as well whether in countries, cities or even rural areas. Helms & Nixon (2010) note that a SWOT analysis was utilized to review challenges facing Venezuela in the area of oil production (p. 227).
My SWOT analysis will focus on the economic development potential for New Bern NC. New Bern is a historical town with approximately 30,000 residents. Townscaping has definitely occurred in New Bern. As suggested by Leigh and Blakely (2017), the visual theme of the central town is usually based on the history of the area and is a huge expression of the community’s identity (p. 265). New Bern was once the capital of NC and the governor’s mansion, along with many other significant establishments are a central focus for visitors to the area. Whereas tourism is a big factor in New Bern, it does not sustain the economy of this town. Leigh & Blakely (2017) note that tourism can be an asset but is not an economic recovery solution. They also note that local planning should focus more on attracting permanent residents than seeking to boost tourism because the local demand for goods and services is more important than visitor demand (p. 296).
According to Schooley (2019) a SWOT analysis should be the first step utilized before committal to any company action whether exploring new initiatives or revamping internal policies or plans. Helms & Nixon (2010) states that a SWOT analysis is the preferred tool used to “kick off” the strategy planning process (p. 234). The SWOT listed below will hopefully kick off my proposal for economic development for the city of New Bern, NC.
Historical value of New Bern is a huge tourist attraction
Located on coast and close to beaches
Cost of living is average
Low crime rate in New Bern which could be an asset for families seeking a secure environment
Community events are scheduled almost every weekend so there is always something to attend for those who chose to do so
New Bern could be improved by bringing in more companies that could hire people and provide a higher salary than just minimum wage earnings
Young families who need maximum income for their families are not attracted to the area because of the wage factor
Since Hurricane Florence occurred in 2018 there is a significant need for low income housing due to many being flooded and beyond repair
Slow increase in population over the last several year
African Americans make up 33 percent of New Bern but few are business owners
The opportunity to open a business is good in New Bern
New housing developments are needed to assist with the housing shortage created after Hurricane Florence in 2018
Low income area is being revitalized
Financing for minority business owners is available but not widely utilized
Hurricane season brings many storms to the coast and New Bern is prone to flooding as witnessed in 2018 with Hurricane Florence
Not a major thoroughfare because located at coast
Innovation is an issue due to many retirees bringing an older population to the area
References
Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now?: A review of
academic research from the last decade. Journal of Strategy and Management, 3(3), 215-
251. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1108/17554251011064837
Leigh, N. G. & Blakely, E. J. (2017). Planning local economic development. Thousand Oaks,
California: SAGE Publications.
Schooley, S. (2019, June 23). SWOT analysis: what it is and when to use it. Retrieved from
https://www.businessnewsdaily.com/4245-swot-analysis.html
A SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. According to Helms and Nixon (2010) the origin of the term “SWOT” is unknown; however, it has grown to be utilized as a key tool in addressing complex strategic situations by reducing the quantity of information which improves decision making (p. 216). SWOT’s have been utilized by many people for different aspects of business where the need to review both internal and external issues is necessary. SWOT’s can be used to address issues related to economic development as well whether in countries, cities or even rural areas. Helms & Nixon (2010) note that a SWOT analysis was utilized to review challenges facing Venezuela in the area of oil production (p. 227).
https://www.businessnewsdaily.com/4245-swot-analysis.html







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Christmas Offers! Enjoy 10% OFF this Festive Season using the coupon code: nation10