Importance of Budgeting and SWOT Analysis to Senior Level Management
Budgeting and SWOT analysis are very important tools for senior level management. Budgeting helps senior managers to effectively plan for the limited resources that an organization has. It makes it possible to assign to each department and each project specific resources based on their availability and need. It helps in eliminating over expenditure or under expenditure. Glenn (2005) says that through budgeting senior managers are able to identify areas where expenditure is likely to generate more income and areas where the management of PepsiCo should consider using fewer resources. SWOT analysis on the other hand helps senior level management to understand areas where they have an upper hand compared to competitors and areas of weaknesses that need to be addressed (Keown, 2004). The model also enables management to identify opportunities that it can take advantage of and threats that it must deal within its immediate environment. The information obtained from this model is critical in defining the strategies that senior level management takes when defining organizational strategies.
How Budgeting and SWOT is Attached to Marketing Professional
Both budgeting and SWOT analysis are closely attached to marketing professionals. Marketers have the responsibility of using limited resources to popularize a brand, its products, and to improve sales (Silzer & Dowell, 2009). A marketing manager will need to budget for all the activities within the department based on the assigned resources. SWOT analysis is critical to a marketing manager, especially when competition in the market is stiff. The model will enable such manager to come up with ways in which PepsiCo can use its strengths to take maximum advantage of the opportunities that the market has to offer and to deal with the internal weaknesses of the firm and threats in the external market.
How Budgeting and SWOT is Attached to Intelligence Analyst
Budgeting and SWOT analysis are very important tools for intelligent analysis. Budgeting will help an analyst to understand how to use the resources assigned by the top management at PepsiCo to effectively collect data needed by the firm for its strategic operations. The knowledge about SWOT analysis is also critical for such an analyst. The analyst will need to understand the shortcomings of PepsiCo to know the kind of intelligence needed to address the problem (Cummings & Worley, 2009). Knowledge about threats in the market is also important because the intelligence analyst will need to know how to deal with threats based on the current available resources and capabilities of the firm.
How Budgeting and SWOT is Attached to Global Supply Chain Senior Analyst
Global supply chain senior analyst at PepsiCo is faced with the responsibility of creating solutions to transform the existing chain and to deliver sustainable value to this company. Budgeting is very critical to this analyst when trying to come up with strategies that this firm can streamline its supply chain activities at global level using minimal resources possible (Chopra & Meindl, 2013). The analyst must understand how each of the regional heads of PepsiCo can coordinate closely with licensed bottlers to help them cut down costs through effective procurement and inventory management strategies. The senior analyst will also need SWOT analysis to help develop strategies that will enhance performance of this firm. Understanding weaknesses of this firm’s supply chain is critical in order to know how the issue can be solved (Ferrell, Fraedrich, & Ferrell, 2016). The analyst will also need to know the threat that the firm faces in procurement and new opportunities that the firm should be keen on as it tries to cut own costs of operation.
References
Chopra, S., & Meindl, P (2013). Supply chain management: strategy, planning and operation. Upper Saddle Ridge, NJ: Pearson Education.
Cummings, T., & Worley, C. (2009). Organization development & change. Melbourne, Australia: South-Western.
Ferrell, O., Fraedrich, J., & Ferrell, L. (2016). Business ethics: Ethical decision making and cases. Hoboken, NJ: Wiley & Sons.
Glenn, M. (2005). The best job in the world. Oxford, UK: Compton House Publishing Limited.
Keown, A. J. (2004). Foundations of finance: the logic and practice of financial management monograph. Beijing, China: Qinghua University Press.
Silzer, R., & Dowell, B. (2009). Strategy-driven talent management: A leadership imperative. New York, NY: John Wiley & Sons.