MVV and SWOT
Our use of this methodology is primarily driven by four factors:
strategic clarity, inspiration and motivation, a decision-making
framework, and cultural development. In essence, the approach
aids organizations in expressing their identity, mission, and
guiding values.
Utilizing a strategic planning tool, we evaluated their
opportunities and threats from the outside as well as their
internal strengths and weaknesses. Strengths, Weaknesses,
Opportunities, and Threats, or SWOT, is an acronym. It allowed
us to:
•Leverage their strengths to capitalize on opportunities.
•Address weaknesses that may hinder their ability to seize
opportunities.
•Develop strategies to mitigate or counteract threats.
•Leverage strengths to mitigate the impact of threats.
FINDINGS:
•Prime Location in a High-Traffic Area, Skilled Bartenders and
Friendly Staff, Effective Happy Hour Promotions
•Limited Seating Capacity, Dependence on Alcohol Sales
•Expanding the Cocktail Menu to Attract visitors, Promoting
Delivery Services for Alcohol Sales
•Increased Competition from New Bars or Nightlife Trends,
Rising Operating Costs (e.g., rent, utilities, insurance)