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New Financial Software SWOT Analysis

Assignment Instructions

Create a SWOT analysis for a new product or service that you are going to introduce. Use information from the text to identify strategies for introducing the new product and/or service. List tactics used to create and/or produce the new product or service. Write a paper of approximately 750 words that addresses the following components:

  • What is your plan for introducing the new product and/or service?
  • Summarize your SWOT analysis, including the strengths, weaknesses, opportunities, and threats.

Sample Solution – Implementing New Financial Software

Strategies for introducing the New Product

The new product to be introduced in this case is a New Financial Software. This is software that is used to manage business financial operations. The introduction of the new software highly depends on the identified problems in the market or organizations. The introduction must have been initiated by the identified need for this product to solve an advance problem in various organizations. This implies that, while introducing a new product, one must consider a specific strategy that assist in defining the best product to introduce. The strategy involves conducting a market research to determine the problem being faced by the majority in the market that may be solved by your product (Cliffconsulting.net, 2001). The researcher should gather detailed information on the problem to determine if the newly developed product fits the majorities’ problems or it may need some modification or creation of a new product all together. The other aspect to consider is timing. A new product should be introduced when it is needed most. For instance in this case, financial software should be need when accuracy, efficiency, time and fraud curbing are the main goal of majority of organizations in the market.  The product should then be made available to a few influencers who can include organizations or individuals. The influencer should invite analyst and the product owner should take critics and consider modifying the product. Advance industry analysis should be conducted to ensure that the product completely match the industry problems. Marketing which include announcing the product launch in social space and giving a brief on what the product is all about will also be necessary.  Advance marketing of the product should then be done to ensure that more and more people know about the product. The marketing should focus on easing the process in which people get more information on the product and product itself (Cliffconsulting.net, 2001).

SWOT Analysis of the New Product

Strengths

The growing use of technology in various organizations creates a great need for the development of reliable software that can be used to aid in various management roles. To heed to this call, various programmers have come up with a number of systems that assist in easing business management tactics. Financial management has not been an exception. There has been rising need for a reliable financial management system that would assist in reducing accountant work complexity, increase accuracy, efficiency and lower financial frauds in various large organizations (Bal&Nunes,R. 2010). These rising needs for efficiency pushed me into the development of a financial system that will assist in capturing all financial transactions in a business, making all necessary computations and giving responses within a very short time period. The software eases in computation of daily, weekly, monthly and yearly financial data based on the request. It is also able to do complex financial mathematics to ensure complete elimination of the manual computations (Bal&Nunes, 2010).

Weakness

The main weaknesses of the financial management software is that they are considerably complex to use and hence thorough training may be required to ensure effective utilization of the applied software. The software use may also need basic computer knowledge to be able to be trained effectively. Another weakness is that unlike other software, financial management software is considerably complex especially due to the use of extensive mathematical function and hence it is hard to ensure that they are perfect. Any small error in the software development especially in the mathematical section may result to great loss or misinformation in financial related matters and thus, demanding a high level of expertise in the software creation.

Opportunities

The main opportunity with this product is that it can be modified to fit a specific company’s situation or needs. This means that this product can be edited to serve various organizations in the region. This is considerably possible among the organizations that apply similar accounting rules. The most common financial statements are developed in a strategic way which is common in most places, meaning with a well-developed system, only small adjustment will help the product owner to serve a number of companies locally and internationally. Thus it can be a good source of earning. The product owner can also earn a system maintenance bid and hence ensuring a long-term earning from this product. The product complexity may make it hard for any organization to pirate the product and hence the owner personal involvement may help in advancing the product popularity and the developer expertise in the market and hence expanding the product market.

Threats

The threats include the possibility of experiencing stiff competition from large companies that have been in business for a long time. Another threat is that financial systems are considerably sensitive since they serve as the backbone of companies. Thus the product runs a risk of being rejected due to lack of trust on the system. Most organizations may consider known and certified similar product producers than a new comer without a legacy. Developing this legacy may take forever, especially in a situation where, none of the most influential companies is willing to take risk.Virus attacks is another main threat to this software.

Alamo Group SWOT Analysis

SWOT Analysis

The activity of strength, weakness, opportunities, and threats (SWOT) analysis constitutes and imperative strategic planning tool that the mangers of Alamo Group Inc. can use to perform the firm’s situational analysis. It is possible that this company has maintained its leading position in the market because of its ability to critically analyze and review the SWOT analysis. Thus, Alamo’s weaknesses, strengths, threats, and opportunities are discussed below.

Strengths

Since Alamo Group Inc. is among leading firms in its industry, it has several strengths which enable it to survive in the competitive business environment. The first strength has been realized in the financial analysis where Alamo has been found to have high revenues and profitability. One of the reasons behind this success is that the organization has good returns on capital expenditure. The company has been successful in executing new projects, which have, in turn, yielded good returns on capital expenditure through the creations of new streams of revenue.

Weaknesses

The strategy of Alamo entails making choices, where weakness comes in as the areas in where firm needs to improve and thus making SWOT analysis a useful tool. The company’s understanding of it weaknesses helps it focus on its strategic positioning as well as competitive advantage. One of the greatest weaknesses that Alamo has is its cost structure in future. This situation may arise due to several factors such as the existence of the gaps in the range of the products sold by the organization.

Threats

The existing categories of the products of Alamo Group Inc. may be adversely affected by new regulations about the environment under Paris agreement (2016). Additionally, the company is exposed to currency fluctuations in the various nations where it is operating, especially where there is the volatile political climate in some markets worldwide.

Opportunities

As mentioned earlier, Alamo depends on technology (Alamo Group Inc. 15). Thus, the new technology will offer an opportunity to this firm to meet the varied demands of the customers in the new market. This strategy will also enable the company to increase its profitability.

Amazon Company SWOT Analysis

In order for the company to be able to identify its areas of weaknesses, and come up with effective strategies to improve the company’s performances and profitability margins, it has to conduct a SWOT analysis.

Strengths

The company derives its strengths from the three strategic drives which are, good leaderships that aim in reducing company’s costs, differentiations and focus on customer obsessions rather than competitor focus. This strategy has helped in the increase in the profitability margins and hence the shareholders achieving value from the company. The other strength is that the company develops its competitive advantage from leveraging information technology and the use of e-Commerce as a platform for ensuring that the company remains competitive in all the market segments (Peterson & Smith, 2015, p.56). The company has marketed itself globally from the quality services and products it offers to its customers, this has led to it enjoying top of the mind recalling from consumers. This has also helped in entering into new markets, an issue that was very difficult for other e-Commerce companies. The company has also been able to actualize customer satisfaction through the use of better logistics and distribution structures which also improved its level of competitiveness.

Weakness

The company’s diversification strategy, which entailed expanding its focus from the retail of books online into other products like electronics, has been spreading slowly. This is seen as a good strategy on considering the risks of diversification, but the company has to ensure that it does not lose its strategic advantage as it moves from its principal competence. The high possibility of losing profit margins due to the offering of free shipping to customers is another weakness (Spender, 2013, p.56). Considering the fact that the company retails through online only, it might interfere with the company’s expansion to emerging markets. The greatest weakness is that the company operates in an almost zero margin business representations, which has severely hurt its profitability.

Opportunities

The company is benefiting in on its identifications as an online retail pioneer through the sell of its expertise to key store groups globally. This is promoted by the merging and acquisition of small companies that help in increasing its market shares. Amazon also has many opportunities for building collaborations with public sectors (Peterson &Smith, 2015, p.47). Through the purchase of other companies, for example, the purchase of China’s online retailer, the company is able to enter into new markets and reduce the level of competition from rival companies.

Threats

The company faces stiff competition since all successful internet companies attract competition. Another threat is that international competitors may intrude upon the company as it expands, hence limiting its growth and expansion (Peterson & Smith, 2015, p.78). Most of the products sold by the company are bought as gifts; hence the sales might be affected by the elements of seasonality.

Some of the questions that might be a source of more information from the stakeholders and that can contribute to the analysis are whether the company is planning to expand its product mix, and what are they going to consider when are trying to enter into new market segments that lacks trust on online marketing.

Strategic Plan SWOT Analysis For Cryptosource Concierge LLC

Strategic Plan SWOTT Analysis

The purpose of this paper is to develop a strategic plan SWOT analysis for CryptoSource Concierge, LLC. Planning is a method of ensuring that the resources available in a company are used in the most efficient ways to obtain explicit results. Strategic planning is a process of determining how an organization intends to be in future and how it will attain the desired goals. Strength and Weakness, Opportunities, Threats, and Trends (SWOTT) analysis is a strategic planning tool that matches the internal organizational strengths and weaknesses, with the external opportunities and threats (McGuire, 2014).

In any working environment, there are economic, legal and regulatory forces that cause the rise, growth, expansion or even downfall of a business activity. Economic forces entail factors that help control the competitiveness of the environment in which the business activity is initiated. At CryptoSource Concierge, LLC, examples of these factors are interest rates, changes in government, rate of inflations in the state, and customer confidence and monetary policies. Legal forces tend to standardize the actions of the management team to the non-management team (Olsen, 2011). The common rising legal issues include discontented employees, discrimination at places of work, and finally dissatisfied customers. Regulatory forces aim at protecting public interests from any kind of abuse or harassment, by regulating decision-making liberties in an organization. Examples of such regulations include market entry controls, minimum wages, and prices of commodities in the market. All the forces have to be integrated in the management of an organization for effective growth and expansion of the business.

CryptoSource Concierge, LLC management adapts to changes by use of several measures. It prepares its employees on the importance of the changes and how it will impact their lives positively. This is done after it has analyzed the organization and the needs for change (Rumelt, 2012). This includes the strengths and weaknesses of the business, how employees relate and how the management and non-management handle business interests. Through creation of a shared vision and common direction, all stakeholders are encouraged to support the changes for the company to achieve its desired objectives.

Supply chain involves the process of organizations, employees, activities, information, and resources put in place for transporting a product or service from manufacturer to the customer. The main aim of CryptoSource Concierge, LLC is to provide strategic IT and cyber management services and support other IT and cyber focused companies that provide quality products and services. Their technicians provide field support services with the use of current, proprietary and specialized technologies. The remote Cyber security provisions enables safe use of mobile devices, cloud based applications, social networks and securing essential company information (Olsen, 2011). The new division entails establishment of a software development division that is customer focused. The company will need competent software development team who will be able to handle different customer requirements. In order to develop and leverage core competencies and resources within the supply chain; the organization has to develop strategies that outdo their competitors. A supply chain strategy is necessary to operationalize and support the business strategy. These include provision of after sales services to its customers. For example, provision of free remote cyber security services that is monitored at CryptoSource data to loyal customers is a strategy.

The major issues facing the company that reduces its marketability include the introduction of free trade agreements and laws which have forced American companies to compete with third world counties, encouraging corporations to outsource jobs in the U.S overseas. Another issue is the supply and demand risks, which arise from stiff market competitions. Tagging on that are the pricing risks that come about as a result of regulations of market prices by the states. The other issue is economic factors like increasing inflation rates that directly affect the production and sales of their products (McGuire, 2014). However, despite of the challenges, the company has opportunities that help in sustaining peaceful management of the business. These include the existence of good leadership styles that encourages equality, justice and fairness in the supply chain. The good organizational culture also promotes peaceful coexistence of all employers encouraging good employee relationships. The organizational structure is also aligned to the goals of the company; it has no salaried employees other than the founder of the organization, reducing the costs on salaries.

There are hypothesis surrounding the major issues in the company. The state should come up with laws and regulations that protect the interests of American companies so as to retain their strengths in the global market that end up boosting the American economy (Rumelt, 2012). These hypothesis from the common issues affecting the company gives rise to questions like, is the company ready to accept new changes? Is it ready to accept the liabilities of spending in better technological innovations? Does the company value intrapreneurship and employee growth? Does the organizational structure support the company’s goals and objective?

All the major issues affecting CryptoSource Concierge, the effects of the trade rules cause LLC and regulations set by the state and the nature of the economy. The circumstances are classified under external factors that have impacts in a company. They are important in the sense that it is necessary when coming up with solutions to the problems, meaning it can be handled from a different perspective. The issue on increasing inflation rates is also an external factor, and can be improved by ensuring that there is good economic stability in the state, which has overall positive effects in business. Concerning organizational culture, it is classified as internal factors in the company. Its importance is seen from the productivity of the business, good organizational structure produces corresponding effects to the company (McGuire, 2014).

SWOT ANALYSIS TABLE.

External factors.

FORCE STRENGTHS WEAKNESS OPPORTUNITIES THREATS
Legal and regulatory Protects employee rights Limits decision making Easy to access Law suits from customers
Global Promotes company image Can cause trade conflicts Seasonal high demand for products Stiff competition.
Economic Promotes trade Unpredictable Fair and just Consequential
Technological  Advanced Costly Accessible Expensive
Innovation Company reputation of being innovative Expensive Promotes intrapreneurship Can be costly
Environmental Promotes company growth Companies are mandated to follow the regulations. State regulations well implemented Can have cost effects

 

Internal Factors

FORCE STRENGTHS WEAKNESS OPPORTUNITIES THREATS
Strategy Boosts production levels Many missed objectives High demand for services Incompetency
Structures Promotes company goals No permanent employees Reduces costs Can lead to conflicts.
Processes and Systems Simple to follow Can be copied easily Easily accessible Intellectual property threats
Resources Available Scarce Easy to access Inflation affects spending
Culture Good culture Limited to few individuals Benefits the employee Can cause discriminations.
Leadership Strong leadership Staff are overworked Good motivation Competing companies

 

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Strengths, Weaknesses, Opportunities, and Threats Analysis (SWOT)

The goal of every business is to make profits while at the same time working very hard to meet the needs of customers. Companies are required to conduct various analyses of their businesses in order to understand their current status before making informed decision. SWOT analysis is one of the strategic planning tools that companies use to acquire a detailed understanding of their businesses. All SWOT analyses have four elements in common. The four elements include strengths, weaknesses, opportunities, and threats (Contract Journal, 2004). Strengths as an element of SWOT analysis describe factors that make a company better than other similar companies in the industry. In addition, strengths element details the core competencies of a company that make it successful in the market. In a SWOT analysis, weaknesses describe factors that prevent a company from performing well in the industry. Specifically, this element details things that a company is lacking yet they are important requirements for success (Contract Journal, 2004).

Opportunities, as the other element of a SWOT analysis, describe business potentials that can help a company to increase profits (Couzins and Beagrie, 2004). For instance, a company may choose to integrate technology into its system considering the fact that many companies are now taking advantage of technological advancement in the contemporary world. Threats element describe factors that are likely to harm a company’s operations. Examples of threats to a company are competitors and strict government regulations. Although all SWOT analyses must contain a company’s strengths, weaknesses, opportunities, and threats, the contents of these four sections vary from company to company due to differences in the types of businesses operated and industries in which those companies operate (Contract Journal, 2004).

Although the SWOT conducted by the team includes all the four elements described above, the team feels that additional elements should be included in the analysis. For instance, the feels things that the strengths section should include factors that make the company more likely to succeed in the industry (Couzins and Beagrie, 2004).. This new element has been chosen because it informs the company of those areas that it needs to exploit to its advantage. Moreover, the team feels that the weakness section should also include the level of customer loyalty that the company has with its new brand. This element should be added to the SWOT analysis because it helps the company to identify the most appropriate actions that it should take to strengthen brand loyalty among customers. Furthermore, the team feels that the opportunities section should describe changes in government regulations that have the potential to help the company increase profit, and that the threats section should include variations in consumer tastes and preferences that are likely to harm the company’s operation. This information will assist the company to make appropriate strategic decisions to help limit the impacts of those strengths (Couzins and Beagrie, 2004)..

SWOT analysis plays a very important role in every company. The main purpose of a SWOT analysis is to get a company’s manager think about both internal and external factors that may affect the success of a business (New Straits Times, 2003). The main idea behind this purpose is that, a manager is likely to make wrong business decision if he or she fails to consider the key issues related to its strengths, weaknesses, opportunities, and threats. For instance, if a company that is launching a new product fails to recognize the threat that there are other organizations within the region that are developing similar products, it might set relatively high prices for the product that may negatively impact sales. Basically, a SWOT analysis can help prevent a manager from making costly mistakes that might prevent his or her business from succeeding (New Straits Times, 2003).

Alternatives to SWOT analysis are PESTEL analysis and Porter’s Five Forces analysis. PESTEL is an acronym for political, economic, social, technological, environmental, and legal factors that affect a company’s operations. These are factors in a company’s external environment that affect the way a company conducts business. Porter’s Five Forces analysis describes factors in company’s environment that are affecting its operations at both local and international level. The five factors used in Five Forces Analysis are threat of new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, and competitive rivalry. Like SWOT analysis, PESTEL analysis and Porter’s Five Forces are strategic tools that help managers to make informed decision on how they can better manage their businesses (Wallace, 1998).

SWOT analysis has numerous advantages and disadvantages to a company. According to Couzins and Beagrie (2004), SWOT analysis is a business planning tool that a company can use to assess its capabilities as well as business opportunities that it should take advantage of in order to increase profits. By carrying out a SWOT analysis, a manager is able to acquire an in-depth focus on areas that require quick changes to prevent a company from falling. Moreover, a SWOT analysis helps a company to identify its competencies that it can use to exploit business opportunities. However, SWOT analysis may be disadvantageous to a company because it may not provide a manager with adequate information regarding how his or her business is likely to perform in the global market.

SWOT Analysis for The Bank of America Corporation

Below is the SWOT analysis for the Bank of America Corporation (Eggert & Vibert, 2012):

Strengths

  • The Bank of America Corporation is the second largest bank in terms of asset composition in the American market.
  • In terms of innovation of products and service provision, the Bank of America Corporation is one of the trusted financial service provider in the US.
  • The bank has about three hundred thousand employees who provide their services across the world.
  • The bank holds a strong name of brand and it has good financial position.
  • The bank provides its financial services to more than one hundred and fifty countries and relates well with the fortune companies of the United States.
  • The bank has stability in terms of efforts of growth in the US banking sector.
  • It is the fastest growing bank in the US economy to satisfy the financial needs of the nation.

Weaknesses

  • The bank has issues of credit consumer controversies that reduce the effectiveness of its operations.
  • The bank has controversies over WikiLeaks, hence slow operations.
  • The asset composition of the bank is not strong enough to provide required services.
  • The Information Technology system is not strong enough to allow the online operations across the world.

Opportunities

  • The bank has room for diversifying its financial portfolios for the customers.
  • The bank has room for expansion in other countries.
  • The bank has mergers acquisition aim.
  • Improving customer service across the world by growing the value of credit card for its customers.

Threats

  • The bank faces competition from other banks in the world like Deutsche Bank.
  • The bank faces financial crisis, for example, recession times.
  • The constantly changing government regulations affect the bank.

On the SWOT analysis, the Bank of America Corporation is expected to maximize on the strengths and opportunities and minimize on its weaknesses and threats. In order to maximize on the opportunities, the bank can continue opening up its operations across other countries to expand the market. This would create opportunities for making more profits to increase its annual benefits. It should also open up branches in more countries to make it known and provide financial services to satisfy the needs of the customers. The bank should keep in touch with the loyal customers from the various countries to counter the competition from the other banking institutions that are coming up rapidly.

In achievement of its opportunities, the bank should use the available chance to diversify the financial portfolios for its customers to help in maintaining them. The available annual profits should be used in opening branches in the countries that have not received the services provided by the bank. Growing and increasing the use of credit card opportunities to the customers can help increase the profit opportunities for the bank.

On the other hand, the bank has its weaknesses and threats which obviously reduce the effectiveness of the bank services. The bank can only minimize on the threats and weaknesses. Opening up branches of operation in more countries will help increase profits and also increase the asset composition. Improving the infrastructure of the bank can help improve and increase service provision to the customers. By improving infrastructure, especially, in the area of information technology, communication and coordination will be easy and the bank would have reduced the gap of competition, a problem that cannot be fully solved.

HR and SWOT Analysis of Reyes Fitness Centers

Introduction

This paper will summarize the role of human resource (HR) management and SWOT analysis in the operations of the Reyes Fitness Centers, Inc. The human resource department is the fundamental section of any organization. The nature of workforce in a given organization determines the productivity in the company (Caputo, 2013).SWOT analysis complements   the human resource department in different ways. It enables the HR to devise mechanisms that will enable the company to overcome all business related challenges and compete favorably in the market.

Purpose of the Paper

This paper will examine the strategic role of HR in business management. This will be examined using an action plan that will use business techniques like the Gantt chart and the SWOT analysis. The paper will also identify the mechanisms of evaluating the recommendations from the action plan and the risks of failing to implement the recommendations

Summary from the Presentation

On the role of HR in the operations of the company, effective human resource management incorporates all the stakeholders of the company. Reyes Fitness Centers(RFC) need to use human resource domainsthat will help it to have elaborate and strategic human resource management approach that will help the company to achieve its strategic goals (Haile &Krupka, 2016).

Successful human resource planning and management process should bring all the stakeholders on board when making important decisions of the company. Talent among employees should be encouraged to promote productivity (Sparrow, Brewster  & Chung, 2016). The welfare of the employees should be the driving force in production. Technology is also necessary in organizations. Organizations should move with new innovations in order to meet the demands and references of customers.

The SWOT analysis on the other hand, will help the human resource department in RFC to examine the strengths and weakness of the company. The HR management will also understand the opportunities open to the company and the possible threads the company face in the market (Haile &Krupka, 2016).

The company should use the SWOT analysis is the monitoring and evaluation of its operations. This will give the management a chance to evaluate whether the objectives of the company have been achieved. It offers the company a chance to examine the strengths and weaknesses of the company and make necessary adjustments.

Recommended Action Plan

The action plan recommended here will be guided by the actions, the individuals to carry them out, the duration of the plan , resources needed and the means of coordinating all these actions. The action plan should be complete, precise and up to date. The action plan should address the opportunities available for RFC in the market today. The recommended action plan is based on the Program Evaluation Review Technique (PERT) below. It gives the necessary steps that the management of RFC need to follow in order to complete the project (Ebert et al., 2014).  It gives information about the start, progress, duration and the important steps needed to complete the intended project.

Significance of PERT Chart

PERT chart is important in all types of projects. It give managers an opportunity to monitor the progress of the business project. The following is a sample of the chart

 

It has stages that must be followed in order for the business project to be successful.

  • Stage 1: at this stage, the manager need to examine the project to identify all the steps that seem to be necessary in the process
  • Stage 2: this defines the necessary tasks to be completed before commencing the whole project
  • Duration: A well planned project must have the duration needed for it to be completed.
  • Defining critical parts and suggesting remedies to the challenges that may be encountered.

Evaluation

The evaluation of the project will be done following the steps and the stages in the PERT Chart. The managers will find it interesting and easier to evaluate the progress of the company (Snipes et al., 2016). Evaluation will be done by comparing the progress of the current project and the expectations in the initial plan

Risks for lack of Implementation

A successful business must implement the recommendations from the business research. The recommendations will enable RFC Company to be competent and successful. Lack of implementation exposes the company to potential threats that hinders production. A business becomes prone to debts (Ebert et al., 2014).

Strategic and administrative role of HR

The strategic importance of HR is to enable the company to have a competitive advantage in the business market. The business strategy can only be successful if the HR management if business oriented.  In administration, the HR controls all the duties and conduct of the employees. It is important to the company because it assigns employees to tasks depending on their skills.

Resources Needed for Transformation

Business strategic planning is an involving venture that needs well experienced personnel, time, capital and moral support. Before engaging in a project, the management of RFC should ensure that the resources are enough to cater for all stages in the action plan. Time should be allocated depending on the activities of a given stage (Ebert et al., 2014). Otherwise, more time should be allocated to the stages that are critical and involving.

Conclusion

In conclusion, an effective action plan enables the human resource department of RFC to understand and make constructive decisions that will help the company to prosper. The SWOT analysis will help the management to ensure that their action plan is well organized to overcome challenges associated with business.

SWOT Analysis

Based on your unit reading, create a SWOT analysis for the company you chose to research. Your analysis should be between one to two pages, and identify the company’s strengths, weaknesses, opportunities, and threats. Use Microsoft Word and create four sections for your paper using the SWOT categories as your headings.

Each category should have approximately 200-300 words describing the issues that fall under that area, for a total of 800- 1,200 words across the four areas of the mini-SWOT analysis. The opportunities and threats should have at least ten items identified for each.

Format your SWOT analysis using APA Style. Use your own words, and include citations and references as needed to avoid plagiarism.

Information about accessing the Blackboard Grading Rubric for this assignment is provided below

Are you looking for help on a SWOT analysis paper or any other paper? Our professional writers at Unique Writers Bay  are ready to help you. Click on the Order Now Button bellow and enter your paper guidelines  then leave the rest of the work to us.

SWOT Analysis – Target Corporation

Target Corporation is today considered as the second-largest discount retailer in the United States. Founded in 1902 by George Dayton, Target is a retailer operating large format general merchandise as well as food discount stores. Currently, the enterprise has a strong market position which consequently improves its market penetration opportunities as well as enhancing its bargaining power. Nonetheless, an enduring economic downturn in the United States may adversely affect the consumer’s spending capacity and subsequently affect the demand for Target Corporation’s products (Alshakhoori et al., 2016).

The SWOT analysis is instrumental in assessing the resources, competitiveness, and capabilities of a company through separating the internal as well as external factors by determining whether they can aid or hurt the company.  Four distinctive categories that emerge with SWOT analysis are the internal strength and weaknesses, as well as the external opportunities and threats. From an internal perspective, Target has maintained a very strong brand that has led to the strengthening of other owned-brands and consequently a loyal customer base (Leinbach-Reyhle, 2014). Additionally, the cleanliness of the stores, overall guest experience, internal financing options, and loyalty programs are crucial strengths that has aided differentiate Target as a company (Target, 2015).

In contrast, some of the weaknesses that confront Target Corporation and needs monitoring include lack of Target’s international presence and lower geographic dispersion of Target stores in comparison with her competitors such as Wal-Mart. After closing down operations in Canada, Target ended its endeavor in international expansion (Alshakhoori et al., 2016). Other weaknesses of Target are their reliance on guest experience in a bid to be valuable enough to offset the higher cost, and the perception of Target as a more expensive store.

There are a number of opportunities that can aid Target in growing the firm. The development of the grocery section reflects a customer shift toward healthier and organic food choices. Through stocking the correct products in a bid to satisfy the changing market, Target stands to benefit from the larger profit margin of owned-brand products, besides third-party suppliers (Alshakhoori et al., 2016). Cognizant that the retail industry is moving towards a multichannel as well as dispersion, Target can continue to update its capacity beyond the conventional applications as well as loyalty programs in a bid to maintain the market share (Leinbach-Reyhle, 2014). Moreover, Target has an opportunity to lead the retail industry in a shift towards responsible and eco-friendly business practices across all sectors of the enterprise (Target Corporation, 2014).

Externally, Target faces threats from the increasingly competitive discount retail industry, which is more shifting towards a multichannel distribution following the lower costs and flexibility linked online clientele. There s need for Target to work towards repairing of its customer confidence in its online presence following an incidence of data breach in 2013 (Alshakhoori et al., 2016). There is need to assure customers that their financial information will be safe. The other major external threat of Target is its reliance on the unstable and soft United States economy where they run the risk of removing its customer base in the event that the customer preference changes (Wahba, 2015). Below is the SWOT analysis of Target Corporation in a tabulated form.

 

 

 

SWOT Analysis for Target Corporation

 

 

 

Corporate Structure & Culture

 

 

 

 

 

 

 

 

Functional Areas

Strengths

 

 

·         Well formulated and recognized brands highly respected by customers and considered exclusive deals with high profile designers

·         Partnership with high profile designer

·         Price matching policy

·         Quality of service and customer in-store experience

 

 

·         Loyalty Programs

·         Appealing to younger customers

·         Use of analytical tools in creating personalized digital experience, loyalty programs, and promotions

·         Innovative products and store ambience

·         Target credit card, Target Visa card, Target Red card

·         Product range

 

Weaknesses

 

 

·         Business model subject to supercenters and many shoppers prefer convenient neighborhood stores

·         Slow expansion. Target planning to open 8 small Target stores while Wal-Mart, a major competitor, opened 270 stores within the same time

·         Presence only in the United States

 

 

·         Online presence not comparable with market leaders

·         Perception of higher pricing than competing discount retailers

·         Reliance on the value of differentiating guest experience

 

 

Macro(Societal)

 

 

 

 

 

 

 

 

 

 

Industry

Opportunities

 

·         Increased Push of owned-brand products

·         Globalization by use of physical expansion and use of better e-commerce services

·         Declining incomes in the country can enhance Target’s customer base since consumers are more likely to shop at discount stores

·         Further development of online retail capabilities

 

·         Continued enhancement of grocery section especially in organic foods as well as sustainable sea-food

·         Providing improved and additional services such as providing same day delivery option

 

Threats

 

·         Increased minimum wage of employees can affect Target’s profits as many of the workforce are employed for low income jobs

·         Reliance on a recovering U.S economy

·         Loss of customer confidence in online retail services following the 2013 data breach

 

 

·         Intensified competition by large as well as small stores offering superior services and better convenient locations

·         Increased development of multi-channel retailing competitors

 

 

SWOT Analysis – El Hefe Inc

El Hefe is an electronics company dealing in the manufacturing of electronic products including mobile phones, computers etc. The following is a SWOT analysis for the company.

Strengths

The company reputation is very high. Additionally, El Hefe produces its products alongside operating systems for their gadgets enabling them to control their products. It also leads in innovation and product differentiation. The company’s growth rate is high despite the competitive nature of the technology market. The company also has a good a workforce that not shares the company’s vision within and out of the company therefore providing the requisite goodwill.

Weaknesses

El Hefe Company has weaknesses as well that seek to derail its development as an electronics company the fierce competition posed by similar companies. The company produces quality products and that translates to high prices for its products. This does not attract many customers considering the fact that the market is proliferated with companies some of which sell their products at lower prices.

Opportunities

The company has opportunities one of which being growth in market share. The company is gradually picking up and one its major concern is to create a strong brand that can achieve the competitive edge in the current technology market. Additionally, the company is looking forward to investing in a software industry to complement its products. This will create a new avenue for making profits and therefore increasing the company’s market share (Fine, 2009)

Threats

The only threat to the success of El Hefe Company is the potential growth in competition in the market. The market has in the past few years attracted many investors thus bringing forward competition which has a significant impact on market share and the future is expected to be attract even more investors thus increased competition. However, the company’s strategic plan is to carry out product differentiation to be able to capture a wider market than its current market (McCarthy,2015)

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