Watch any Shark Tank episode that aired within the last three seasons. Shark Tank airs on ABC and is available on YouTube and in many other places such as Hulu, On Demand, etc.
Prepare a written assignment (typed and double spaced) which addresses each of the following requirements. All written assignments should follow APA guidelines. Click here for APA resources. (Links to an external site.)
Part of the grading rubric is the quality of your writing so please proofread carefully and pay close attention to proper grammar, spelling, and punctuation. It is encouraged to utilize Grammarly.com and/or the Writing Centers available on each FSW campus. Note: APA format requires using numerals to express numbers 10 and above and numbers that represent statistical or mathematical functions, fractional or decimal quantities, percentages, and ratios. Therefore, use numerals labeled as a $ or %, as necessary (i.e. $100,000 or 20%).
1. A description of the show. What is its purpose? Which season/episode did you view?
2. A summary of each deal presented that includes a brief business description, the amount of funding requested, the percentage (%) of equity offered to the venture capitalists (the Sharks) by the owner(s), and what deal was ultimately accepted (or rejected).
3. For each deal, include qualitative assessments using SWOT analysis (see below) to identify the strengths and weaknesses of the management team and business strategy as identified by the Sharks. What was positive about the business or deal? What were the issues raised by the Sharks? How will this deal or the planned business strategy affect the roles of the management, finance and marketing functions in the business.
4. What did you learn from this assignment?
STRATEGIC PLANNING USING SWOT ANALYSIS: Planning is the management function that drives all other functions. It must come first in the management cycle as all other functional decisions are based on the plan. As a result, it is the most important function. Strategic planning is what determines the long-term goals and the course(s) of action that the firm will take to accomplish its objectives. Because strategic planning is such an important issue it is usually reserved for the most senior management. One of the most widely used tools by management is the SWOT analysis. This tool directs the manager to data and questions that can then be worked into strategic plans. The chart below gives a visual picture as to SWOT works.
Source: Clark, D. R. (2010). Performance, Learning, Leadership & Knowledge. Retrieved Sept. 4, 2012 from http://www.nwlink.com/~donclark/leader/SWOT.html (Links to an external site.)
For more information, read the article below:
http://www.quickmba.com/strategy/swot/ (Links to an external site.)
You might also want to watch the video for a lesson on how to use this tool.
http://www.youtube.com/watch?v=GNXYI10Po6A (Links to an external site.)