xc2xa0 xc2xa0 xc2xa0 xc2xa0 xc2xa0 A SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. xc2xa0According to Helms and Nixon (2010) the origin of the term xc2x93SWOTxc2x94 is unknown; h’

xc2xa0 xc2xa0 xc2xa0 xc2xa0 xc2xa0 A SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. xc2xa0According to Helms and Nixon (2010) the origin of the term xe2x80x9cSWOTxe2x80x9d is unknown; however, it has grown to be utilized as a key tool in addressing complex strategic situations by reducing the quantity of information which improves decision making (p. 216). SWOTxe2x80x99s have been utilized by many people for different aspects of business where the need to review both internal and external issues is necessary. SWOTxe2x80x99s can be used to address issues related to economic development as well whether in countries, cities or even rural areas. xc2xa0Helms & Nixon (2010) note that a SWOT analysis was utilized to review challenges facing Venezuela in the area of oil production (p. 227). xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 My SWOT analysis will focus on the economic development potential for New Bern NC. New Bern is a historical town with approximately 30,000 residents. Townscaping has definitely occurred in New Bern. As suggested by Leigh and Blakely (2017), the visual theme of the central town is usually based on the history of the area and is a huge expression of the communityxe2x80x99s identity (p. 265).xc2xa0 New Bern was once the capital of NC and the governorxe2x80x99s mansion, along with many other significant establishments are a central focus for visitors to the area. Whereas tourism is a big factor in New Bern, it does not sustain the economy of this town. Leigh & Blakely (2017) note that tourism can be an asset but is not an economic recovery solution. They also note that local planning should focus more on attracting permanent residents than seeking to boost tourism because the local demand for goods and services is more important than visitor demand (p. 296).xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 According to Schooley (2019) a SWOT analysis should be the first step utilized before committal to any company action whether exploring new initiatives or revamping internal policies or plans. Helms & Nixon (2010) states that a SWOT analysis is the preferred tool used to xe2x80x9ckick offxe2x80x9d the strategy planning process (p. 234). The SWOT listed below will hopefully kick off my proposal for economic development for the city of New Bern, NC.StrengthsHistorical value of New Bern is a huge tourist attraction Located on coast and close to beaches Cost of living is average Low crime rate in New Bern which could be an asset for families seeking a secure environment Community events are scheduled almost every weekend so there is always something to attend for those who chose to do soWeaknessesNew Bern could be improved by bringing in more companies that could hire people and provide a higher salary than just minimum wage earnings Young families who need maximum income for their families are not attracted to the area because of the wage factor Since Hurricane Florence occurred in 2018 there is a significant need for low income housing due to many being flooded and beyond repair Slow increase in population over the last several year African Americans make up 33 percent of New Bern but few are business ownersOpportunitiesThe opportunity to open a business is good in New Bern New housing developments are needed to assist with the housing shortage created after Hurricane Florence in 2018 Low income area is being revitalized Financing for minority business owners is available but not widely utilizedThreatsHurricane season brings many storms to the coast and New Bern is prone to flooding as witnessed in 2018 with Hurricane Florence Not a major thoroughfare because located at coast Innovation is an issue due to many retirees bringing an older population to the areaxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0ReferencesHelms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now?: A review ofxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 academic research from the last decade.xc2xa0Journal of Strategy and Management,xc2xa03(3), 215-xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 251. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1108/17554251011064837Leigh, N. G. & Blakely, E. J. (2017). Planning local economic development. Thousand Oaks,xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 California: SAGE Publications.Schooley, S. (2019, June 23). SWOT analysis: what it is and when to use it. Retrieved fromxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 https://www.businessnewsdaily.com/4245-swot-analysis.htmlA SWOT analysis is a major tool which can be utilized in the strategic planning process for any organization. xc2xa0According to Helms and Nixon (2010) the origin of the term xe2x80x9cSWOTxe2x80x9d is unknown; however, it has grown to be utilized as a key tool in addressing complex strategic situations by reducing the quantity of information which improves decision making (p. 216). SWOTxe2x80x99s have been utilized by many people for different aspects of business where the need to review both internal and external issues is necessary. SWOTxe2x80x99s can be used to address issues related to economic development as well whether in countries, cities or even rural areas. xc2xa0Helms & Nixon (2010) note that a SWOT analysis was utilized to review challenges facing Venezuela in the area of oil production (p. 227). xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 My SWOT analysis will focus on the economic development potential for New Bern NC. New Bern is a historical town with approximately 30,000 residents. Townscaping has definitely occurred in New Bern. As suggested by Leigh and Blakely (2017), the visual theme of the central town is usually based on the history of the area and is a huge expression of the communityxe2x80x99s identity (p. 265).xc2xa0 New Bern was once the capital of NC and the governorxe2x80x99s mansion, along with many other significant establishments are a central focus for visitors to the area. Whereas tourism is a big factor in New Bern, it does not sustain the economy of this town. Leigh & Blakely (2017) note that tourism can be an asset but is not an economic recovery solution. They also note that local planning should focus more on attracting permanent residents than seeking to boost tourism because the local demand for goods and services is more important than visitor demand (p. 296).xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 According to Schooley (2019) a SWOT analysis should be the first step utilized before committal to any company action whether exploring new initiatives or revamping internal policies or plans. Helms & Nixon (2010) states that a SWOT analysis is the preferred tool used to xe2x80x9ckick offxe2x80x9d the strategy planning process (p. 234). The SWOT listed below will hopefully kick off my proposal for economic development for the city of New Bern, NC.StrengthsHistorical value of New Bern is a huge tourist attraction Located on coast and close to beaches Cost of living is average Low crime rate in New Bern which could be an asset for families seeking a secure environment Community events are scheduled almost every weekend so there is always something to attend for those who chose to do soWeaknessesNew Bern could be improved by bringing in more companies that could hire people and provide a higher salary than just minimum wage earnings Young families who need maximum income for their families are not attracted to the area because of the wage factor Since Hurricane Florence occurred in 2018 there is a significant need for low income housing due to many being flooded and beyond repair Slow increase in population over the last several year African Americans make up 33 percent of New Bern but few are business ownersOpportunitiesThe opportunity to open a business is good in New Bern New housing developments are needed to assist with the housing shortage created after Hurricane Florence in 2018 Low income area is being revitalized Financing for minority business owners is available but not widely utilizedThreatsHurricane season brings many storms to the coast and New Bern is prone to flooding as witnessed in 2018 with Hurricane Florence Not a major thoroughfare because located at coast Innovation is an issue due to many retirees bringing an older population to the areaxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0ReferencesHelms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now?: A review ofxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 academic research from the last decade.xc2xa0Journal of Strategy and Management,xc2xa03(3), 215-xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 251. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1108/17554251011064837Leigh, N. G. & Blakely, E. J. (2017). Planning local economic development. Thousand Oaks,xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 California: SAGE Publications.Schooley, S. (2019, June 23). SWOT analysis: what it is and when to use it. Retrieved fromxc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0xc2xa0 https://www.businessnewsdaily.com/4245-swot-analysis.html ‘