Step 1: Before writing paragraph one, download the attached work template for reference only – do not submit template.
Step 2: Write up a PEST (External Environment) analysis for the bicycle INDUSTRY (do NOT write about a specific bike company) in Wisconsin and Madison.
In this PEST Analysis, clearly mark and include at least 1 item in each of the following P E S T items: Political, Economic, Social and Technological factors. (Remember PEST is searching for external factors outside of the company)
Examples: P Political Factor is a new environmental regulation to dispose of waste including aluminum and tires.
T Technological Factor: New mobile app to locate bikes.
Paragraph One worth up to 10 POINTS if it clearly identifies and explains the 4 factors.
Brainstorm and create a SWOT analysis for your new bicycle manufacturing business. You can brainstorm Strengths, Weaknesses, Opportunities and Threats that relate to the Wisconsin/Madison bike industry. Feel free to speculate, but use online research statistics if you can find them!.
Your SWOT analysis must include at least one item in each of the following: Strengths (internal) , Weaknesses, (internal) Opportunities (external) and Threats (external).
Example:, Strength: Bike sales have grown 20% in Madison Wisconsin in 2019 Weakness: You are new in the bike industry and can’t easily compete with existing manufacturers such as Trek.
Paragraph 2 up to 10 POINTS. Please clearly identify the 4 SWOT factors.
List a real manufacturers name and address of THREE competitors in the Wisconsin/Madison Biking Manufacturing Industry that you will directly be competing with. Give the complete name and address of the bicycle manufacturer. Find actual manufactureres by researching online.
Finally, at the end of Paragraph 3, in 30 words or more, describe how YOUR bicycle business will compete with these competitors. For example, you could say that given that your employees are locals, they have the ability to understand local culture, and provide better customer service. You can speculate in this answer.
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