SWOT analysis is a strategic planning method used to evaluate – the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at StanfordUniversity in the 1960s and 1970s using data from Fortune 500 companies.
A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning has been the subject of much research.
- Strengths: characteristics of the business or team that give it an advantage over others in the industry.
- Weaknesses: are characteristics that place the firm at a disadvantage relative to others.
- Opportunities: external chances to make greater sales or profits in the environment.
- Threats: external elements in the environment that could cause trouble for the business.
SWOT Analysis of Radisson Dhaka
- Good infrastructure for collaboration.
- Appropriate superstructure to support the facilities.
- Great security support.
- Established fund.
- Positive market demand.
- Growing involvement from business community.
- Support from faith-based community.
- Willingness to try new approaches.
- Business hotel near to the national air port.
- Sufficient spaces.
- Monopoly business in event management.
- Attractive outlets and views.
- Lack of new funding.
- Lack of affordable accommodation facility.
- Job market/jobless recovery.
- No tourism legal support.
- Disconnect between urban and rural.
- Lack of political will.
- Education needed for provider community.
- Lack of skilled labor.
- Faith-based partnerships.
- Increase in collaborative efforts between providers.
- Technical assistance available.
- Involvement of community in providing support.
- Low labor cost.
- Available raw material for the operation.
- Sufficient parking facility.
- Sufficient vegetations.
- Political instability.
- Pending possible closure of military bases.
- Impending legislative state budget.
- Backlash against sex offenders/fear.
- Apathy to government.
- Unhelpful state policies.
- Republican legislature.
- Power management problem.
- Natural disaster
1. All employees should be qualified for working in the hospitality industry.
2. Government should reduce the cost for alcoholic beverages.
3. Guests should get actual reflect of their money.
4. Government rules regarding bar should be followed strictly by owners.
5. Government should minimize the restriction for non –Muslims.
6. Local community should support the value of the labor.
Out of my study, I have learnt essential facts about the banquet operation, necessary equipments for operation, food and beverage, customer satisfaction, bar provision etc in order to effective I come to know interesting and useful information about the banquet and the places where the foods and beverages is served. Here also, I have learnt essential facts about alcohol and its usage, misusage. Before preparing this research paper I hardly knew anything about banquet operation and alcohol and the current situation in world. At the time of its preparation, I come to know interesting and useful information about banquet operation and foods and alcohol and its abuse.
In my project I have tried to give indispensable information about banquet and its relation with the guest satisfaction, tourism industry, socio-economy and society.