Research Task 1

Task One:

SWOT stands for strengths, weaknesses, opportunities and threats. These can be used to analysis any business and give a good indication on how the business is doing. When analysing a business it is best to do your strengths and weaknesses within the company and have opportunities and threats outside of the business. 

The video I've linked above is a video I've found explaining SWOT. It explains how SWOT is used and how it benefits all types of business. From big businesses like Amazon to small and local businesses. 

PESTELE (Political, Economic, Social, Technological, Environmental, Legal, Ethical) analysis is a  tool used by marketers to analyse and monitor the external marketing environment factors that have an impact on a company. The result is used to identify threats and weaknesses which are used in a SWOT analysis. SWOT and PESTELE are used together often by businesses as which is called macro environment. Macro environment is the condition that exists in the economy as a whole, rather than in a specific sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. This can obviously help companies help predict what kind of external factors could effect a company. For example, Brexit is an example of which external factor all companies in the UK don't have a say over and companies will pretty much just have to get on with without complaining. Depending on the kind of trade agreement the UK will have with the EU some companies might find themselves paying extra tariffs if they get their products from abroad. This will on the other hand boost trade for UK based businesses who get their products from the UK because other business wouldn't want to pay extra tariffs when they can now get them from UK businesses for cheaper than they would abroad. 

There is a lot happening in the UK at the moment to say the least. I would say it was a big massive mess to be honest. Especially for local businesses with the Covid-19 pandemic most of all. During lock-down most businesses had to shut due to the national lock-down which had a big effect on business, profit-wise and mentally for business owners and their employees. Many businesses didn't know if they were going to get through lock-down without having to call it a day and shut down. Some businesses are yet to open fully and are still having to rely on loans and grants from the government, the furlough scheme as well for their employees. 

My idea for a creative enterprise is to do football match-day videos covering games and getting players, managers and fans opinions on  issues surrounding the game and their club. I will now conduct a SWOT into my business.

S - I think I have a lot of strengths to do with my business. Normally (When Covid isn't around) their are football games happening all the times when fans are always their, so there's always a lot of work out there for me. Also, there will sometimes be no need to enter the stadium for some games, we can just do it outside. Meaning their will be no ticket cost for some games we go to. Also, another strength is that most football fans always want platforms to share opinions with the media so there will always be interest from the public for interviews etc.

W - With all that's going on at the moment with Covid-19 they are not currently letting fans into stadiums, this takes a massive hit to my business because without the fans, a lot of my content would disappear. But, I can move my content online like I've seen with other similar businesses. I don't think this would draw much interest but I believe their would still be enough people to make good content. Another weakness to this business idea is that there is a lot of competitors in this market, and this would need addressing as my business develops. 

O - Their are a lot of opportunities when it comes to my business. Direct connections with football clubs which can be developed through time I think is the most important and biggest opportunity that can present itself for a business. Links with football clubs can include pitch-side access and special permission to speak to player and managers before and after games. 

T - Threats to my business mostly include bad interviews and a bad repetition surrounding my content. If a fan says a controversial opinion it could start a bit of backlash onto business. Because my videos aren't planned on being live-streamed I could just edit out any of the bad/controversial interviews but if word gets around that their are some mean people on my interviews it could get backlash from the public.