To successfully counter the problem of slow growth, many organizations employ SWOT Analysis. By identifying the strengths, weaknesses, opportunities and threats that the organization has, effective strategic plans that will take advantage of the chances at hand by maximizing on the strengths as well as decreasing the magnitudes of the threats by minimizing the weaknesses. SWOT Analysis has proved to be a success in almost all the organizations that apply it especially young and upcoming businesses.
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An organization that uses credible methods in the production of its services attracts large number of customers. This will ensure that its growth is boosted. In addition, there should be acceptable criteria of distributing rewards to its employees. If the employees feel that there are backdoor plans of distributing rewards (for example promotion) they become demotivated. Working with a demotivated workforce doesn’t go well with Total quality management (“Total Quality Management’s Impact on Different Business Processes”, 2013).
Douglas, T., & Judge, W. (2011). Total Quality Management Implementation And Competitive Advantage: The Role Of Structural Control And Exploration. Academy of Management Journal, 44(1), 158-169. Retrieved November 7, 2014, from http://amj.aom.org/content/44/1/158.short