Buy term paper on STERICYCLE SWOT ANALYSIS

Building strategies and tactical actions. SWOT-analysis results are used to determine the strategic directions of the company activities. That is why the next step is SWOT matrix analysis.

SWOT matrix analysis and evaluation for Stericycle
SWOT-analysis is one of the most important diagnostic procedures, which usually serves to identify the strengths and weaknesses of the firm. But an important part of the SWOT-analysis is not only definition of the strengths and weaknesses of the enterprise, its opportunities and threats, but also the conclusions on the need of any strategic changes. An effective strategy is one that takes advantage of the opportunities, avoids the threats, (or turns them into opportunities), builds on the strengths and minimizes the weaknesses (or takes action to eliminate them). For example, Stericycle, by identifying a fit between the firm’s strengths and upcoming opportunities, may have a better chance at developing a competitive advantage. In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity. Strategic planners limit their efforts to those issues that have the most impact on the situation.
For further analysis it is necessary to build an extended SWOT matrix, in order to focus on the construction of four analyst groups, the various strategies. Each group uses a strategy pair combination of internal and external circumstances. It is necessary to analyze the following pairs of indicators:buy term paper
– Strengths – Opportunities (S-O);
– Strengths – Threats (S-T);
– Weaknesses – Opportunities (WO);
– Weaknesses – Threats (W-T).
As a result we get 4 possible strategies:
SWOT / TOWS Matrix
Strengths Weaknesses
Opportunities S-O strategies W-O strategies
Threats S-T strategies W-T strategies
1. S-O Strategies (strength – opportunities). Every company should strive to maximize both a strength and opportunity. The strength-opportunities (S-O) strategies pursue opportunities that are a good fit to the company’s strengths. Further growth into global markets is an opportunity that fits right into Stericycle’s strength. With operations already in the United Kingdom, Ireland, Canada, Mexico, Argentina, Chile, and Romania, Stericycle has positioned themselves to expand their global presence. Stericycle’s aggressive acquisitions strategy is a strength but is also an opportunity. With their market position, Stericycle has the ability to integrate newly acquired companies while minimizing disruption to their operations. Another opportunity is stepping in when an ineffective competitor vacates the market. This can become a strength by their market position. Both moving into new market segments that offer improved profits and the training potential for medical community, Stericycle can easily create strengths from these opportunities.
2. W-O strategies (weaknesses – opportunities). Strategy of this group is called to minimize weaknesses and maximize opportunities. When we look at the weakness-opportunities (W-O) strategies, Stericycle needs to create ways to overcome weaknesses to pursue opportunities. When looking at weaknesses the staggering $724 million of long-term debt stands out as a mountain to overcome. Their long-term debt could slow the opportunity of further growth into global markets. However, even though Stericycle has taken on some additional debt they have managed to increase their total equity.
3. S-T strategies (strength – threats). The strength-threats (S-T) strategies identify ways that the firm can use its strengths to reduce its vulnerability to external threats. Stericycle’s strength of a strong market position as well as being North America’s largest provider of medical waste services can reduce their vulnerability in a highly competitive industry. This position should also give Stericycle a position to lobby governmental regulation and aid to reduce that threat. The experienced management team that drives Stericycle serves as a strength to reassure public concerns and against the threat activist groups.
4. W-T strategies (Weakness – Threats). The purpose of any of the WT strategies is to minimize weaknesses and threats. It seeks to establish a defensive plan to prevent the firm’s weaknesses from making it highly susceptible to external threats. (Harvard Business School, 2005)
The purpose of the SWOT-analysis of Stericycle company was to formulate the main directions of development of the enterprise through the systematization of available information about the strengths and weaknesses of the firm, as well as potential opportunities and threats. After review of the SWOT analysis, it appears that Stericycle has a strong competitive position. It is possible to say that Stericycle can continue to pursue its current business- and corporate-level strategy profitably. It is important to say that Stericycle has good opportunities of further growth into global markets and conquer new markets, to expand its business and to develop. That is, in the near future the company will have a strategy of expansion and “conquest” of new markets. In the future the company’s management must continually monitor the factors, using the SWOT-analysis, and analyze the situation, to develop new strategic options.
Thus, SWOT-analysis as an effective tool helps the company to focus on strategically important issues. Management has the ability to monitor the factors affecting its business, and concentrate on the most significant factors, directing the actions to increase the company’s competitiveness and reducing the impact of negative factors. SWOT-analysis is the simplest and most affordable method to integrate the various aspects of internal and external environment can really help in choosing the optimal marketing strategy. (Williamson et al., 2003)

Conclusion
SWOT-analysis is one of the most common types of analysis in strategic management. SWOT-analysis allows us to identify the strengths and weaknesses of the company, as well as potential opportunities and threats. This is achieved by comparing the internal strengths and weaknesses of the company with opportunities that give them market. And then company’s management can make conclusions in what direction the to develop its business.
References
Fine, Lawrence. The SWOT analysis. Kindle Edition
Harvard Business School. SWOT Analysis II: Looking Inside for Strengths and Weaknesses. Harvard Business Press, 2005
Williamson D. ; Cooke P.; Jenkins W.; Moreton Keith M. Strategic Management and Business Analysis. Butterworth-Heinemann, 2003