SWOT analysis of Wilmington
In the recent turbulent and competitive business environment, new business and investors should pay attention to their investment location before eventually investing to minimize the probability of failure. SWOT analysis helps new business and existing one to identify their strengths, weaknesses, opportunities, and threats as they attempt to identify ways and means of growing and expanding. SWOT analysis can be described as an analytical tool exploited by investors and business to evaluate what an organization can and cannot do for driver both internal and external. Therefore, through SWOT analysis, organizations determine factors that can assist them in accomplishing their outcome objectives and the challenges that are likely to be experienced en route to the achievement of the organizational and individual objectives (Creative Educational Video Inc & Insight Media (Firm), 2009). This assignment will attempt to conduct a SWOT analysis of Wilmington, Delaware to give the investor an overview of the region as they embark on a mission to invest in the region.
Wilmington, Delaware is one of the biggest cities in Delaware, in North America. The city is built on the site of Fort Christian and can be described as the confluence of the Christina River and Brandywine River. As of 2016, the city had a population of 71, 442 people, which represented a 9 percent population increase from the previous census in 2010. Moreover, the city occupies a total area of about 17.0 square miles with 6.2 square miles of the land being occupied by water, which represents 36% of the entire city (United States, 2011).
Large population – one of the characteristics that are important for the research or the case study is an area with enough participants who can participate in the study. From the 2016 national statistics, the city has over 71,000 people with the youths making 70 percent of the whole population and only 12% of the population representing the senior population. Therefore, the city presents a good composition of participants who can help in the study while at the same time presenting enough market for any business in the city (United States, 2011).
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Low education attainment – education is the key to success, and the united states government is striving to lower education costs in the country to ensure all people get a chance to study. Research shows that the city average educational attainment of the city’s residents is below the county and national averages. This can be a problem when it comes to participating in any study considering that these residents have to be direct in every process and activity they have to undertake. Moreover, with lower educational averages, it becomes difficult to provide quality labor to produce quality products that can compete effectively in the current market (Seaman et al., 2008).
The growth of the professional sector – with the presence of many youths in the city, there is still an opportunity for the city to invest in education which in turn can help improve the professional sector in the city. The development and advancement of the professional sector should be the primary goal of the city
Migration of residents – the major threat to the city is the migration of the city residents to other cities and states particularly, professionals in search of greener pastures. This migration leaves the city without professionals motivators and role models who can encourage the younger education to enhance their educational levels (Seaman et al., 2008).
From the above study, it is clear that Wilmington, Delaware presents the perfect region and city to conduct a case study as well as investing as a result of its geographical advantages.
Creative Educational Video, Inc, & Insight Media (Firm). (2009). SWOT analysis. Lubbock, Tex.: CEV Multimedia.
Seaman, S., Osterhoudt, H., Osterhoudt, J., Wilmington Historical Society, Drum Barracks Civil War Museum, & Banning Residence Museum. (2008). Wilmington. Charleston, SC: Arcadia Pub.
United States. (2011). Combined assessment program review of the Wilmington VA Medical Center, Wilmington, Delaware. Washington, DC: U.S. Dept. of Veterans Affairs, Office of Inspector General, Office of Healthcare Inspections.