MGT300 Advanced Thermal Solutions
What are our strategic strengths and weakness that will determine our future?
Internal capability analysis, resources are both our tangible and intangible assets. Capabilities are the processes, systems or ways of coordinating and combining resources to gain a competitive advantage.
Complete the table below by describing our strengths and weaknesses compared with our competitors.
Question for discussion and reflection: what are the organisations two greatest strengths and weaknesses?
Answer:
Industry Analysis
The next stage of our external analysis is to identify industry characteristics in order to determine if the industry is worth entering or staying in. We do this by applying the ‘five forces of competition model’.
|
Element |
Description of the trend, issue or change |
The impact will be: Low, medium or high? Positive or negative? |
Evidence to support this analysis |
|
Competitive rivalry
|
The trend of sea recreational options makes more and more businesss investment in the industry, this gives rise to new companies.
|
High; negative
|
|
|
Threat of new entrants
|
The demand in this section is only increasing attracting more and more companies to join the industry. |
High; Negative
|
|
|
Substitutes
|
The presence of too many competitors increases the risk of substitute for the company. |
High; Negative |
|
|
Bargaining power of customers
|
The customers have many options in the industry which makes the power of the customer high. |
High; Negative |
|
|
Bargaining power of suppliers
|
The abundance of suppliers make the bargaining power low in the industry. |
Low; Negative |
|
Question for discussion and reflection: How attractive is the industry to this organisation?
At present, the Tudor company is faced with challenges in every aspect of the industry. The company is ages old and has not been successfully operating along with modern time. The company is using the traditional equipments and designs which are avoided by the customers as well. The government has released notice to stop the type of boats Tudor is producing for the safety purpose. All the mentioned factors make the industry unattractive to this organisation.
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