Cango Swot Analysis
Problem: CanGo has never prepared a SWOT analysis. This can lead to poor decision making and ineffective goal determination.
Solution: Prepare a SWOT analysis which shows the company’s strengths, weaknesses, opportunities and threats. Strengths and weaknesses are often internal factors while opportunities and threats are external. CanGo needs to do a SWOT analysis in order to identify where they are strong and where they are vulnerable. To do a SWOT analysis CanGo needs to ask themselves the following for each section:
STRENGTHS:
What advantages do we have?
What do we do better than anyone else?
What unique or lowest-cost resources can we draw upon that others can't?
What do people in their market see as our strengths?
Examples of CanGo’s strengths are: cost advantage, cohesive workforce, pricing, online growth and market share leadership.
WEAKNESSES:
What could we improve?
What should we avoid?
What are people in our market likely to see as weaknesses?
What factors lose us sales?
Examples of CanGo’s weaknesses are: bad communication, no clear strategic plan, weak management team, low R&D and poor decision making.
OPPORTUNITIES:
What good opportunities can we spot?
What interesting trends are we aware of?
Examples of CanGo’s opportunities are: large variety of online content, product and services expansion and emerging markets and expansion abroad
THREATS:
What obstacles do we face?
What are our competitors doing?
Is changing technology threatening our position?
Do we have bad debt or cash-flow problems?
Could any of our weaknesses seriously threaten our business?
Examples of CanGo’s threats are: lack of clear performance goals, ineffective employee evaluation, competition from other online companies and cash-flow problems.
(http://www.mindtools.com/pages/article/newTMC_05.htm)
After identification of each control, CanGo should do the following with respect to each:
Strengths- maintained, build upon or leverage.
Solution: Prepare a SWOT analysis which shows the company’s strengths, weaknesses, opportunities and threats. Strengths and weaknesses are often internal factors while opportunities and threats are external. CanGo needs to do a SWOT analysis in order to identify where they are strong and where they are vulnerable. To do a SWOT analysis CanGo needs to ask themselves the following for each section:
STRENGTHS:
What advantages do we have?
What do we do better than anyone else?
What unique or lowest-cost resources can we draw upon that others can't?
What do people in their market see as our strengths?
Examples of CanGo’s strengths are: cost advantage, cohesive workforce, pricing, online growth and market share leadership.
WEAKNESSES:
What could we improve?
What should we avoid?
What are people in our market likely to see as weaknesses?
What factors lose us sales?
Examples of CanGo’s weaknesses are: bad communication, no clear strategic plan, weak management team, low R&D and poor decision making.
OPPORTUNITIES:
What good opportunities can we spot?
What interesting trends are we aware of?
Examples of CanGo’s opportunities are: large variety of online content, product and services expansion and emerging markets and expansion abroad
THREATS:
What obstacles do we face?
What are our competitors doing?
Is changing technology threatening our position?
Do we have bad debt or cash-flow problems?
Could any of our weaknesses seriously threaten our business?
Examples of CanGo’s threats are: lack of clear performance goals, ineffective employee evaluation, competition from other online companies and cash-flow problems.
(http://www.mindtools.com/pages/article/newTMC_05.htm)
After identification of each control, CanGo should do the following with respect to each:
Strengths- maintained, build upon or leverage.