What Is Weakness Analysis And Mitigation

Good Essays
4.0 Weakness analysis and mitigation
First, the company’s products need further marketing in order to increase its popularity. As is known to all, the current economic development is highly influenced by Internet technology. More and more companies nowadays choose to establish their e-commerce model to expand market and reduce business cost. In particular, technological advancements such as social media and information technology are increasingly utilized in business marketing strategies. But the company does not yet have relevant channels; its official website is mainly about corporate and product introduction. It is suggested that the company may establish its own electronic booking system and digital payment in its online shops, make use of online distribution channels to save cost, and apply smartphone apps to increase its interaction with customers.
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It is known that Singaporeans have quite high expectations about tea products (Tay, 2017). Demanding consumers often tend to change their preference: they want new and fresh tastes. Therefore, the company should develop more innovative products in order to maximize consumer reach. In addition, while tea products remain as the main product, the company may develop tea-related products and services so as to diversify its revenue production and thus decrease its business risks. For example, the company may develop resort and tourism programs as it boasts such natural plantation environment.
Third, the company’s current workforce structure is yet to be better prepared to its international expansion. Human capital is a vital asset for businesses in the modern knowledge economy. When a firm is able to recruit and retain the best talents, it is more likely to gain competiveness. Either marketing or for financing, the company should now look more at the global talent pool.
5.0 Operating strategy and corporate
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