The SWOT Analysis and Innovation (Essay Sample)

The SWOT Analysis and Innovation
Student’s Name :
University Affiliation:
Strengths

Weaknesses

Opportunities

Threats

1. An MBA gives the graduates benefits like, the knowledge in business, leadership. 2. MBA graduates, especially those in managerial positions further promotions. 3. MBA graduates receive salary increments. 3. MBA students who graduate from respectable business schools are valued highly. 5. An MBA gives the students the necessary skills to think uniquely and differently. 6. An MBA enables the students to think and come up with ideas that are valuable in the business world. ideas that match their passions to real world problems.

1. The traditional MBA is not preferred by employers 2. Some theories taught in business schools are not in consistent with professionalism expect red of the graduates. 3. The training of students in law schools not include the observance of professional standards like law and medicine. Qualifications like law, medicine, auditing and accountancy.

1. The business schools are changing their curriculum to make it relevant to the job market.

1. Some companies have their in house training academies, therefore competing with business schools. 2. Noel Tichy, who is a guru at the University of Michigan, teaches business leaders to run their own courses.

Business schools for long have showed their strengths by playing a pivotal role in producing great entrepreneurs who are running very big companies in Kuwait and all over the world. The MBA program has enabled graduates to get promotions in their places of work, others have got pay increments and even gaining value in their places of work and elsewhere. The knowledge gained in business schools, has helped many who have put it into practice and come up with great ideas which have transformed companies or even began new ones which are doing exemplary well. The knowledge gained has been used to come up with great ideas which have solved some problems in the world of business. However, business schools have their weaknesses too and this has made them to be stingingly criticized for coming up and offering courses that are not relevant to what is in the job market and not preparing the graduates fully to create jobs, instead, they are given knowledge that only enables them to run companies that have already been established and are running and not the ones that are starting and struggling to make a sell. The entrepreneurs are complaining that, the kind of the MBA programs offered, are not of much help because they don’t add much value to the employer and to the graduates themselves. It is postulated that, the theories that are taught in business schools contradict the professionalism that is expected of the graduates. Equally, the entrepreneurs argue that unlike other professions like law, accountancy, auditing and medicine which have professional standards to be followed after graduating, the business schools do not offer the same. There are no specific commitments on the business school graduates to continue developing themselves professionally. In response to the above shortcomings, the business schools have created opportunities by beginning to redesign their programs so that they can be relevant to the requirements in the market. The curriculum is revised and designed in such a way that it makes the graduates to be innovative and independent thinkers who can come up with solutions when problems arise. They should also have the ability to think differently and come up with unique ideas on how to move their organizations forward. The new revised curriculum is also intended to make the students to be job creators and not job seekers as it is the case today. The graduates of the new program will have the necessary skills that will make them be holistic in business such that they can handle issues to do with finance, marketing and even the sources of capital. (Policy studies, 2010). In spite of the changes the business schools are introducing, there are some threats to this. For instance, Noel Tichy who is a guru at the University of Michigan teaches and prepares the leaders in business world on how to run their own courses because he asserts that, the members of staff in business schools do not have enough hands on experience. Another threat comes from companies that have in-house training academies like Ortonville which was founded by Ralph and JT Battenberg. They pose a threat to the business schools by doing what the schools are supposed to do. Part 2 Innovation There is a lot of competition to woo customers in the market today, and for the companies to win the hearts and minds of the customers so that they can buy their products or services, being innovative are inevitable. Customers should be given additional reasons that will make them buy a certain product and not the other. A lot has to be done so that they can remain relevant in the market. This is because innovative products have demand that can change at any time and their lifespan is very short. One of the biggest companies in the whole world in the Sony launched a highly innovated Xperia Zi Smartphone which has the features that no other phone has ever had before. This is a premium Smartphone which has very unique feature...