Business / Situational Analysis
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Autor: anton 15 November 2010
Words: 585 | Pages: 3
2.2.2 COMPANY WEAKNESSES AND RESOURCE DEFICIENCIES
In comparison to the competing market, Ferrisâ€™ company has long been plagued by control deficiencies and weaknesses in our system of internal control. There were gaps in existing documentation and some control deficiencies, but, because our previous strategic plan was weak and the management team lacked clear directives, our company will have to remediate the deficiencies and retest the controls. The overall unit costs in relations to key competitors were higher. In addition to that key area, it was also noticed that our bond rating was poor as well as a weak balance sheet. According to the Capsimâ€™s balance sheet survey, Ferrisâ€™ company net assets are tremendously low as compared to the other competitors.
Based upon a scale of 1-10 of Ferrisâ€™ overall business situation with extremely weak being a 1 and exceptionally strong being a 10, our company would at this point rate a 5.
2.2.3 COMPANY MARKET OPPORTUNITIES
As an identifiable electronic sensor company, our primary goal is to influence the public about our company by focusing on the opportunities for rapid, global communications and dissemination of information offered by the Internet. By creatively embedding the Internet into our products and business processes, our sensor company can gain access to an enhanced, value-added distribution system, have greater control over pricing and product development strategies, cost-effectively market our products directly to a broader customer base, and be better positioned to attract investment capital. It is vital for Ferris Company to develop an Internet strategy in order to add value for our customers and this method will also maximize our opportunities for growth.
Also, with embedded Internet sensor products, Ferrisâ€™ company can efficiently market our products directly to the users,
To optimize our opportunities, our companies should focus on providing irresistible value for the customer. A sensor company's prospects can also be enhanced by partnering with related companies that have similar or complementary product lines and by developing its own marketing channel.
Connecting to the Internet is not as straightforward as it used to be. While the traditional dial-up line will likely endure, broadband Internet (where there is a permanent Internet connection) will open up intriguing opportunities for more efficiently transmitting and receiving sensor information via the Web. "Always on" Internet capability allows for contacting the customer at any time, which opens up possibilities for timelier monitoring of sensed parameters within the home, factory, or office.
A business pioneer, Skardon explains, too often can be equated to "a poor pilgrim lying face down in the dirt with about 100 arrows in his back. His house is on fire, and the enemy has run off with his wife and kids." To pursue a key business opportunity, "you don't want a covered wagon, a few horses, and a positive mental attitude. You want the marketing equivalent of the 82nd Airborne Division, Marine Force Recon, and perhaps a squadron of F-22s." Although itâ€™s expensive, "hitting a market/opportunity hard and with enough sustained fighting power is crucial to developing the initial market and fighting off intruders."
To grow and attract investors, a sensor company should scrutinize its existing value chain and pinpoint how they provide value to their customers. To expand its opportunities, a company should focus on adding complementary and synergistic products and technologies to its portfolio. For example, if you are strictly providing sensors, you are missing an opportunity to sell value-added modules. If you are supplying modules, it is advisable to consider developing your own standalone products.
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