Business Management and Organization
SWOT is an abbreviation which means Strengths, Weaknesses, Opportunities and Threats within a company or organization. Albert Humphrey developed it in the 1960’s. It is an extremely vital tool in the analysis of a company’s progress among its competitors. It is paramount for a company to understand its strengths and opportunities (marketingteacher.com). More noteworthy is the possibility of withstanding the threats and weaknesses in the organization. It can be applied both in the personal life and in the business as well. Through proper understanding of the business weaknesses, a company can eliminate the threats and even manage the company in a mere amicable manner (Bohm, 2009). If an organization understands market situation, it can switch its strategy to shift away from its competitors. This would improve the competition strength in the market.
In the analysis of the company in question, its strengths as well as weaknesses are apparent. For purposes of this paper, we focus on one item from each category for the discussion. The company has a major strength in its management program as well as a strong sales team at the helm of the organization. This comes in handy in the marketing of the company’s products. In order to amplify this strength, the company should foster new seminar programs to enrich the sales team with newer techniques in the sales and marketing sector (businessballs.com). This would help the company in maximizing its sales further and thus outwit their competitors in the market (Fine, 2009).The town adjacent to the company is made up of over 50 percent rich residents. This is a major opportunity yet to be exploited by the company. In order to penetrate the market, the company needs to expand its sales base to cover a much wider area in the market. This would stimulate significant sales growth for the company.
However, the company faces a number of threats and weaknesses. The main weakness of the company would be seen at the Telemarketing operations. This sector is generating many price conscious customers. These customers may look for other suppliers should the company make any price adjustments. With any price adjustment, proper price control should be observed in the company’s products in order to attract more customers. Unnecessary price adjustments should be avoided and necessary research should be carried out before making the price adjustments. A new competitor which started its operations about 18 months ago has decided to cut on prices to attract customers. The company has at the same time decided to appreciate the company’s employees through offering better pay packages. This would force the company to improve on quality of products such that customers would still consider purchasing from them, favoring guaranteed quality of products (Bohm 2009).
Get access to
Guarantee No Hidden