Business Data Analysis – Writing SWOT and Recommendations
Business Data Analysis
The Blue Cut Fashion activates in the apparel industry and so far, they have implemented traditional strategies, based on traditional approaches to the market and the stakeholders. Recently however, the chains’ chef executive officer, Mr. James Frost, has decided to implement several changes meant to improve the quality and efficiency of the business process. These changes revolve around modifications in the approach to customers, products, suppliers, intermediaries, partners and sales. A major modification is prone to occur in the chain of distribution and it implies that the company will commence to distribute their products online, through internet based applications and electronic commerce.
This decision has numerous strings attached, both positive as well as negative, gathered up in the SWOT table. Blue Cut Fashion relies on its internal core competencies and external opportunities to launch a new business venture, which will increase the company’s revenues, its recognition and market share by allowing it to enter new markets.
The threats and weaknesses refer to the risks to which the company is becoming exposed and the additional financial efforts they will have to undergo. The manufacturer will have to hire software programmers to develop and actualize the website and databases and will have to ensure the delivery to the online purchased items to the destination requested by the client. This will increase the company’s expenditures.
But all the expenses and investments will either be compensated by a reduction of the costs in stores, either will return in the form of increased revenues, profits, market share and interest from investors.
2. Recommendations
Before actually launching into the electronic venture, Blue Cut Fashion must first ask themselves if this is the efficient direction for them. What do they expect to derive from such actions and why would this distribution strategy service them? If the answer is a definite conviction that electronic commercialization of their products would increase their sales revenues by allowing them to approach new markets (O4), with little losses and controlled risks, then they should commence the actual launch.
The first steps to be taken revolve around conducting marketing researches to identify the demand for online sold Blue Cut Fashion products. Then, since the company has limited experience in the domain of internet based applications (W1), they should hire the best software technicians (O2) to develop their website and constantly maintain it up-to-date (W2). Also, they must invest financial resources in purchasing the latest technologies available, in order to make the website easy to access and user-friendly (W3).
In launching their commercial website, Blue Cut Fashion should develop a strong marketing campaign highlighting the benefits of the company’s product. The items sold online will meet the same quality standards as the items sold through stores. The company’s brand name and international recognition will represent the promise of high quality (S1).
Another thing they must consider when engaging in online activities is the fact that the customer does not physically come to pick up the desired items, but the company must send them to him. As such, they will have to set the basis for a reliable logistics system. This should not pose major difficulties, as Blue Cut Fashion has already developed partnerships with logistics companies, they will only have to extend the contracts (S3).
3. SWOT Analysis
The SWOT analysis reveals the strengths, weaknesses, opportunities and threats which are likely to affect the outcome of launching the electronic commerce at Blue Cut Fashion. The strengths and weaknesses derive from internal features and amongst others, may refer to financial highlights and previous expertise. The opportunities and threats are generated by the external environment and may refer to commercial trends and technological advancements. All these are presented in the following table:
Table 1: SWOT for e-commerce at Blue Cut Fashion
Strengths
Weaknesses
1. International recognition and favorable image on the market, facilitating as such the penetration of the online market
2. Blue Cut Fashion possesses sufficient financial resources to engage in an electronic commerce venture
3. The existent logistics system could be extended to cover the delivery of the online sold clothes and shoes
4. Blue Cut Fashion employs dedicated workers which produce high quality products with increased attention to details
5. The management and marketing teams are dedicated to increasing the company’s adaptability to change
1. Limited, if any, expertise in the field of electronic commerce
2. No it personnel to handle the operations, therefore the company will have to hire them, leading as such to additional personnel expenditure
3. Insufficient, if any, technologies to support web-based application, generating again additional expenditures
4. Blue Cut Fashion has been shown to encounter difficulties in quickly adapting to change, therefore they might find it difficult to absorb all the changes deriving from an online venture
Opportunities
Threats
1. Numerous technologies are being developed to support web-based applications
2. The it labor force is growing and becoming increasingly specialized, making it easy for the company to hire among the best developers
3. The electronic commerce is a growing business segment, welcoming all entrepreneurs
4. Through electronic commerce, the company would be able to penetrate new markets, reaching potential customers in all regions of the globe
5. E-commerce would increase consumers’ interest moreover when it would allow an efficient spending of the time and would eliminate the crowdedness in the stores
6. Success registered by other companies with online strategies, such as eBay, Amazon, Barnes and Noble or Dell Computers (Goel, 2007, p. 2)
1. A major threat is being posed by the still insecure nature of online transactions, which could prevent potential customers from purchasing their products (Ghosh, 1998)
2. Previous failure of other companies in launching successful online strategies might discourage company officials. However, they could also learn from others’ mistakes and not repeat them 3. The electronic venture poses threats deriving from the need to change the organization in terms of rethinking the revenues, reengineering the business, empowering the customers, capturing customer service and expanding globally (Korper and Ellis, 2000)
4. The particular nature of online purchases forces the manufacturer to deliver the products to the destination required by the client, increasing as such its expenditures
List of References:
Ghosh, Anup, K., 1998, E-Commerce Security: Weak Links, Best Defenses, 1st Edition, Wiley
Goel, Ritendra, 2007, e-Commerce, Department of Computer Science and Engineering, Institute of Engineering and Technology, Lucknow, U.P.
Korper, Steffano and Ellis, Juanita, 2000, the E-Commerce Book: Building the E-Empire, 2nd Edition, Morgan Kaufman
Rosen, Anita, 2002, the E-Commerce Question and Answer Book: A Survival Guide for Business Managers, 2nd Edition, American Management Association
Schmidt, Inga, 2000, E-Commerce: A Platform for Integrated Marketing: A Case Study on U.S. Retailing, Lit Verlag
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