Introduction Company G is a well-established small appliance company that manufactures small electrical appliances. One product they manufacture is a microwave oven for customers who are visually impaired or are blind.
Mission Statement “We enable consumers to improve the quality of their lives by providing high quality, innovative electronics solution.”
The Product The microwave oven supports the mission statement of Company G, as it will improve the quality of life with the following features:
• The microwave will have a cooking power of 1000 watts.
• Have 1.0 cubic feet of space.
• A removable turntable for easy cleanup.
• A flat surface with large buttons that can easily be marked in braille
• The numbers would be easy to read as
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Competitive Rivalry
The threat to competitive rivalry is moderate. Any company that is currently producing microwave ovens can saturate the market. For example, Panasonic and Amana already have a microwave oven for the visually impaired and unfortunately, also have a share of the market.
Threats from New Entrants The threat for new entrants is high. A competitor can buy your product and send it off to a foreign competitor, such as China, and then come back into the United States and remarket that product.
Threats from Buyers:
There is no threat from buyers. Individual buyers will not affect this product. There is no exclusive relationship with any single company.
Threats from Suppliers The threat from suppliers is low. Parts to make the microwave oven can be bought at various suppliers who manufacture them.
Threats from Substitutes
The threat from substitutes would be low. There are other options available to the consumer such as, conventional ovens or going out to a restaurant.
SWOT Analysis The purpose of a SWOT analysis is for a company to analyze their strengths, weaknesses, opportunities, and threats. The below chart will show Company G’s SWOT analysis with a brief explanation of each.
STRENGHTS *indicates core competency WEAKNESSES
Production Shortage of suppliers
Brand XG and logo are recognized* Qualified engineers and designers
Financial* Inexperienced managers
OPPORTUNITIES THREATS
Expanding the product
The SWOT analysis is commonly known as a tool for business analysis. Its main use is for looking at strengths and weaknesses to do with the organisation, current or future opportunities and possible internal and external threats. These can then be dealt with to make them into a positive.
“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.”
The Intensity of Rivalry among Competitors in an Industry (High): Equally balanced competitors exist within the industry such as BCF and KMD; these firms also face competition from retailers and wholesalers. The growth of the industry is relatively agile in both financial and technological aspects. The intensity or rivalry is further accentuated by relatively high storage and fixed rental costs, extensive product differentiation and minimal switching costs.
SWOT Analysis SWOT Analysis is a very effective way of identifying your Strengths and Weaknesses, and of examining the Opportunities and Threats you face. Carrying out an analysis using the SWOT framework helps to focus activities into areas where the business are strong and where the greatest opportunities lie. Strengths: * What advantages do you have?
Microwave ovens did not gain widespread popularity in Australia until the early 1980s, although they had been commercially available since the late 1950s. Microwaves revolutionised food preparation - making it possible to defrost, cook or reheat food in very little time, and prompting a growth in the consumption of frozen convenience meals.
However, not many people might be open to the suggestion of getting an oven so easily. But it is actually easy to look around, read a few reviews and get to choose something like the NuWave Oven would be a great investment. Investment
a 2007 model year GE oven with the same style, parts, and color as the 2006 model
SWOT analysis provides a structure for analyzing either your own strengths and weaknesses, and the opportunities and threats you face, or in a work context for analyzing the strengths, weaknesses, opportunities and threats a business or event faces. Ideally it is one step in a process which helps you to
The Microfridge, Is a devised electronic circuitry that shuts off power to the refrigerator whenever the microwave oven is switched on and pulls less than 20 amps of current, is a 1+1>2 device which can offer those who are in concern of using electronic appliances safely like college students and retailers a safer, more convenient and inexpensive combination of microwave and fridge.
SWOT Analysis is a simple but useful framework for analyzing your organization's strengths and weaknesses, and the opportunities and threats that the company face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you will giving you the opportunity to ward off possible threats from external sources.
Swot analysis refers to the strength, weaknesses, opportunities and the threats that a business faces. Every company has its strengths, weaknesses, opportunities and threats that it faces.
A SWOT analysis is an evaluation a company’s strengths, weaknesses, opportunities, and threats (Armstrong, 2010, p.77). A SWOT analysis is a useful tool in comparing a business, or in this case a character’s, traits to the situation and to other characters.
Industry Rivals – Industry Rivals such as Circuit City and Radio Shack have been hurt in some markets due to the expansion of Best Buy, but by having a better customer service rating, some customers are coming back.
The level of threat to the industry is relatively high with competition from the Internet changing the face of merchandising the most. Big names like Wal-Mart and
In general, manager’s look at competition has been too narrow. There is a broad set of competitors that need to be looked at, which are described in “The Five Competitive Forces That Shape Strategy” by Michael E. Porter. The model explains that there are several other forces in the competition for profits that the strategist should be aware of when forming a stagey. Those forces determine the profitability of the industry and are the most important to look at when you are forming a strategy. These five forces are are the “industry structure” model which contain: New Entrants, Suppliers, Buyers, Substitutes, and Existing Competitors.