BUS599 – Strategic Management
Company Description and SWOT Analysis
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Strayer University
BUS 599: Strategic Management
Professor: xxxxxx
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Company Description and SWOT Analysis
Company Description and Mission Statement
True Wish Sunshine and Stars Childcare is a childcare facility that offers quality and family-friendly childcare services. The company’s name is appropriate because it matches its description of providing true and honest services to children and their families. The Center guarantees a safe and encouraging setting for children to grow, play and study. True Wish Sunshine and Stars Childcare provide daycare programs available hourly, daily, and weekly to meet customers’ demands. The facility offers part-time and full- and care, relevant educational programs, recreational and play activities, balanced meals, and specialized care for children with medical conditions. Furthermore, the facility provides after-school activities such as music, dance, and arts to enhance child development. Safety precautions and supervision are guaranteed in all sectors, including the sleeping area for children to rest.
Mission Statement: ” To provide holistic and family-oriented childcare services that align with the unique needs of the society. True Wish Sunshine and Stars Childcare Center is dedicated to providing 24-hour care that safeguards the child’s protection, well-being, and a great start in life by fostering a wholesome and positive experience of respect, love, mental wellness, inclusion, and a developmentally-sound foundation for a lifetime of learning.”
Trends in The Industry
The childcare sector is significantly impacted by technology. Digital tools are widely used in daycare facilities to improve parent communication and streamline administrative work. Some of the digital tools include online registration, sign-in and sign-out processes, and digital reporting tools. Technology also enables parents to monitor their children’s through applications and online portals (Riley et al., 2019). Childcare facilities now provide a variety of extracurricular activities like arts, music, dancing, and crafts to support children’s development. These activities support children’s mental, physical, and creative development. Additionally, more flexible and customized daycare services are in higher demand in the sector (Riley et al., 2019). Childcare organizations have commonly accepted children with special needs. Childcare facilities invest in training their staff members to provide inclusive care and support for children with disabilities or developmental delays. This pattern demonstrates how inclusive education is becoming more widely recognized, starting at a young age.
The size of the American children’s market, estimated at USD 60.4 billion in 2022, is projected to increase at a compound annual growth rate of 4.18% between 2023 and 2030 (Grand View Research, 2023). The primary factors influencing the expansion include the increased need for early care and education facilities as more parents’ start working again, the increase in working women who are also single mothers, the development of child learning tools, and the convenience of government financing. In the United States, daycare costs are very high (Grand View Research, 2023). Given the increasing demand for childcare services, American families are willing to spend more on these services.
Strategic position
Customer perception is crucial for True Wish Sunshine and Stars Childcare to become recognized as a top childcare facility in the sector. The center may build a positive reputation among its target market by concentrating on customer perception, which will help it stand out from other childcare service providers. The center will use a multifaceted strategy to implement customer perception as a strategic stance (Abrams, 2019). Delivering top-notch childcare services that satisfy both children’s needs and their families expectations will be the center’s top priority. This will entail assembling a team of skilled personnel with relevant experience who are enthusiastic about working with kids and fostering a supportive environment. The center can foster a favorable perception among the parents by ensuring the kids are cared for and happy.
True Wish Sunshine and Stars Childcare will also emphasize a family-friendly attitude in all aspects of its operations. This entails considering the entire family’s requirements and offering services and facilities that are suited to them. For instance, the facility will offer flexible operating hours to accommodate parents working irregular or late shifts. Additionally, it could offer extra services like parenting classes or support groups for parents. The center can establish a reputation for being dependable and kind by assisting families (Abrams, 2019). Additionally, the center will aggressively seek out consumer feedback and apply it to enhance its offerings. Customer feedback will be collected through regular surveys or direct conversations with parents. The center can modify its strategy to more effectively address their needs by paying attention to their worries, recommendations, and preferences.
Distribution
True Wish Sunshine and Stars Childcare Center is located in an accessible and convenient location. The center is located in Augusta, Georgia. This location is conducive since it is a developed urban area with a high customer base of the working class. The childcare center is located within a city where most residents are working class and are trying to keep up with the hustle and bustle of the city. Through the physical location, the center can build credibility and trust among parents who are seeking reliable childcare services.
Additionally, the facility will advertise and market its services online. This involves offering comprehensive information about the center’s programs, facilities, and personnel credentials on a user-friendly website (Riley et al., 2019). The center will set up social media accounts on websites like Facebook and Instagram to interact with the target market and disseminate information about services. These internet platforms will make it easier for the center to reach a larger audience and will be convenient for working parents who prefer to look up and reserve childcare online.
True Wish Sunshine and Stars Childcare Center will forge alliances with neighborhood colleges, community centers, and organizations serving children and families. The center can access its current networks and receive recommendations from reliable sources by working with these organizations. The distribution mode will be able to reach more parents and spread the word about True Wish Sunshine and Stars Daycare.
SWOT Analysis
Strengths
1. Commitment to providing family-friendly and high-quality daycare.
2. Various childcare plans, including hourly, daily, and weekly.
3. Creates a safe and supportive setting so children can learn and grow.
4. Excellent staff with a strong awareness of children’s needs.
Weaknesses
1. Cost structure. True Wish Sunshine and Stars Childcare offer 24-hour childcare services, usually more expensive than traditional daycare services.
2. Limited accessibility at times of high demand.
3. Lack of funding to extend operations.
4. The inability to accurately forecast how many children need to be looked after and how many caregivers must be at work.
Opportunities
1. Increased revenue as a result of more parents having to work.
2. Government support programs.
3. The use of advanced technology.
4. The childcare market is expanding, and many people are unaware of the services True Wish Sunshine and Stars Childcare provides.
Threats
1. Competitors in the area who provide similar services.
2. Regulation changes made by the government could affect how the center operates (Abrams, 2019).
3. Economic downturns could threaten the expansion and profitability of the business.
4. The company may have a smaller potential consumer base due to its concentration on particular demographics.
One of True Wish Sunshine and Stars Childcare Center’s greatest strengths is its unwavering commitment to offering high-quality and family-centered services. This commitment enables the center to create long-term, strong relationships while setting it apart from competitors. Additionally, the childcare center has exceptional staff members with the appropriate training, experience, and credentials and have substantially contributed to the center’s success. The center might use these advantages to go after the presented opportunities (Sharma et al., 2021). One such opportunity is government backing, which might offer the center financial aid, educational opportunities, and regulatory direction. The daycare center can improve some of its flaws by actively seeking and utilizing government assistance, including a lack of financing and inadequate forecasting methods. This would enable the center to streamline costs and strengthen its capacity for financial planning.
The center also has the chance to streamline its operations and raise the overall standard of its services thanks to the development in technology. The daycare center can boost efficiency and communication by using cutting-edge technologies like automatic attendance tracking systems or online communication platforms for parents (Riley et al., 2019). The center must be aware of potential dangers while seeking these opportunities. The daycare industry faces severe competition; therefore, the center must constantly evaluate and modify its tactics to stay ahead. Economic downturns can present difficulties because families may prioritize their spending differently. Governmental changes can regularly bring about policy changes that could affect the center’s operations. The center must continue to be adaptable and flexible to counteract these risks by regularly observing market developments and modifying its business strategy.
References
Abrams, R. (2019). Successful business plan 7th edition: 9781933895826, 9781933895857.
Grand View Research. (2023). U.S. Child Care Market Size, share & trends. https://www.grandviewresearch.com/industry-analysis/us-child-care-market
Riley, A. R., Walker, B. L., Wilson, A. C., Hall, T. A., Stormshak, E. A., & Cohen, D. J. (2019). Parents’ consumer preferences for early childhood behavioral intervention in primary care. Journal of developmental and behavioral pediatrics: JDBP, 40(9), 669.
Sharma, R. R., Kaur, T., & Syan, A. S. (2021). Market Segmentation, Targeting and Positioning. In Sustainability Marketing (pp. 119-132). Emerald Publishing Limited.
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