Swot Analysis For A Pharmacy - 844 Words

Every business has its strength, weakness, opportunities and threats. These days most of the businesses do SWOT analysis for improvement. I work at a leading pharmacy in Newark, so I decided to do a SWOT analysis on it. This pharmacy started business in 2012. I chose this business because it is the ideal business to do the SWOT analysis on, as it has its advantages and disadvantages. The SWOT analysis allowed me to find all the flaws as well as advantages of the pharmacy as well as ways to improve and to protect it from threats. If a business has many weaknesses, the SWOT analysis can help the workers and owners of the business become aware of it and can allow them to improve the business. So no harm or disadvantages come from doing the SWOT analysis. First advantage of the SWOT analysis is it identifies the strength of the business. The pharmacy I work at has location, long term customers, and the acceptance of all health insurances as its strength. The pharmacy I work at does not have any competitors nearby, the customers are regulars and only get their medication from here, and accepting all health insurances allows us to have more customers. The more customers, the more profit. The long term customers allow us to be insured that our customers are loyal to us and will continue with our service. Being conscience of all your business’s strengths allows you to also see its weaknesses. Believe it or not, but being aware of your businesses weaknesses is beneficial for you.Show MoreRelatedA Swot Analysis of Walgreens in the Competitive Pharmacy Marketplace3555 Words   |  15 PagesA SWOT Analysis of Walgreens in the Competitive Pharmacy Marketplace Katy Mullis Table of Contents Page Contact Information .............................................................................................................3 I. 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