SWOT Analysis of a Consultancy Service Start-Up in Quezon City, Philippines: Identifying Strategic Opportunities and Challenges

• Author(s): Sharmaine M. Avila ; Eldrick M. Fonollera ; Marry Sol L. Lare ; Joefil C. Jocson
• Paper ID: 1706098
• Page: 501-507
• Published Date: 30-07-2024
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 8 Issue 1 July-2024

Abstract

This study focuses on a start-up statistics and research consulting firm in Quezon City, Philippines. A thorough SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis evaluates the consultancy's internal and external environment. Using Kotler and Armstrong's (2008) definition of SWOT, this study systematically combines strengths and opportunities to address weaknesses and mitigate threats. Interviews, business observations, and document analysis were the data collection methods used. The resulting SWOT analysis contributed to the development of strategies utilizing the TOWS (Threats, Opportunities, Weaknesses, and Strengths) matrix technique, which was supplemented by Grace LaConte's Strategic Risk Severity Matrix to assess the severity of risks based on their likelihood and impact. The study outlines critical strategic areas that require immediate attention, such as forming collaborations with academic institutions, increasing social media presence, and targeting the corporate and government sectors. Building strong academic relationships through presentations and referral programs, increasing social media involvement with regular updates and promotions, and personalizing marketing efforts to attract corporate and government clients are all recommended strategies. The consultancy seeks to achieve steady growth and stability by creating service packages for a wide range of clients and utilizing social media.

Keywords

SWOT Analysis, TOWS Matrix, Strategic Planning, Consultancy Services.

Citations

IRE Journals:
Sharmaine M. Avila , Eldrick M. Fonollera , Marry Sol L. Lare , Joefil C. Jocson "SWOT Analysis of a Consultancy Service Start-Up in Quezon City, Philippines: Identifying Strategic Opportunities and Challenges" Iconic Research And Engineering Journals Volume 8 Issue 1 2024 Page 501-507

IEEE:
Sharmaine M. Avila , Eldrick M. Fonollera , Marry Sol L. Lare , Joefil C. Jocson "SWOT Analysis of a Consultancy Service Start-Up in Quezon City, Philippines: Identifying Strategic Opportunities and Challenges" Iconic Research And Engineering Journals, 8(1)