Swot on Company

Strengths

Good customer relationship

The biggest management challenge for a business is to serve and maintain good relationship with the king – the customer. Communication and giving credit facility can help in enhancing the interest of the customers in the company.

Company maintains frequent communication with their customers. As soon as the product is ready or a new product is launched the information is provided to the customers. The company also allows their clients to buy on credit to increase the sales volume.

High quality products

Quality relates to appropriate use, that is, how well a product does what it is intended to do. It is also associated with consistency. A customer who is happy with the first buying experience needs and wants to be equally happy on each further occasion.

The company believes that clients who really care about quality are willing to pay that bit more to obtain it and see 'the extras' as worth the additional expense. Thus, they ensure that their products are of high quality by having it tested in the Department of Science and Technology.

ISO certified

The term 'product' covers not only goods but the services that support them. Product quality relates to how well a product meets changing demands. At the same time, customers are becoming more particular about their own requirements. Quality involves keeping pace with these demands.

 Being certified as meeting the requirements of ISO adds credibility to Company. This is because many customers will deal only with organisations that can demonstrate they meet this rigorous standard. All of Company's products meet with modern standards and requirements, thus enhances consumer confidence.

 Lower prices of products

Companies need strategies to draw in clients and keep them coming back. Intelligent pricing is one of the most important factors of any successful business enterprise.  Pricing below competition is the practice of setting one's prices below those of its competitors.

Offering lower cost for products with a high quality gives Company an edge over their competitors. This may attract more clients to transact business with the company which may lead to increase in their sales.

Weaknesses

Incompetent employees

        Every company has employees who undermine their coworkers' efforts through incompetence or uncivil behavior. They are considered as ‘bad apples’ of the company. Having such employee may ruin the performance of a team or an organization.

Lack of proper segregation of duties

        Segregation of duties means no single individual should have control over two or more phases of a transaction or operation. The failure to segregate duties of handling and authorizing transactions, disbursing, data recording and reconciling cash is a critical mistake for any business. The lack of segregation of duties enables a person to perpetrate and conceal their fraud for longer periods of time.

Lack of benchmarking

        Benchmarking is a systematic process for comparing business performance in different organizations to learn whether, and how, things may be done better. The purpose of benchmarking is to improve performance or services by identifying where changes can be made in either what is done or how things are done. 

        Company, being a small business, is slow to adopt benchmarking in its own operations. Their lack of benchmarking data makes it difficult to compare themselves against their peers.

Lack of management skills

        In order to run a successful business one needs a diverse range of business management skills. Individuals who are expected to manage people and/or resources need to understand the basic skills required, and then develop those skills to include more enhanced competence and leadership attributes.

        Lack of leadership is a primary reason for lost productivity. Without vision, support and guidance from a manager, workers feel little or no incentive to perform at a high level, let alone care about what they're doing. When roles and responsibilities are not clear and when employees believe their leaders do not care, they will soon become disengaged and less productive. Also, lack of managerial training decreases the organization's ability to adapt -- and cope effectively -- with change.

Lack of advertisement

        Advertising is the message relayed from companies to persuade an audience to purchase their products. According to Smith, "Advertising not only assures consumers of a business’ reliability in a soft economy, but it can influence where and what they buy, especially when the ads address concerns about value."

        Lack of proper marketing can be reflected in an organization’s promotional efforts, which include advertising and sales promotion. Company does not employ advertisements which can be a drawback to the company. They would have a difficulty in gaining more customers and a branding reputation.

Opportunity

Location

         In every company, location is one of the factors to be considered. Location can be strategic. This can be an advantage or a disadvantage to the company. The environment where the company is located can also affect the business.

          The location of Company, as it is only in Manila, is very strategic. Most of the target clients have established their main office in Makati or other parts of NCR. This means that Company can directly contact potential clients and personally introduce them their products and services unlike other competitors which based their businesses in Laguna and other provincial areas.