Swot stands for strengths, weaknesses, opportunities, and threats. The SWOT analysis will assist CanGo understand the opportunities that are obtainable and what threats may have an effect on its business. Before moving onward with new ventures CanGo needs to evaluate the arrangement they currently have in the market. Performing a SWOT analysis technique would be very beneficial at this point and will serve as the baseline to elaborate on a strategic plan for the organization. C&G consultants have been monitoring CanGo’s processes for quite sometime, and we have developed the following preliminary SWOT analysis:
Purchasing an automated storage and retrieval system (ASRS) would help to improve the warehouse, by purchasing an automated storage and retrieval system it is a great solution for CanGo’s handling inventory in a more effective and efficient manner. CanGo has had tremendous growth over the past couple of years. CanGo has also been recognized for as one of the fastest growing small business in the Hudson Valley. CanGo is continually looking to venture out into other areas, in an effort of improving the overall organization. Weaknesses:
One of the biggest issues is the fact that CanGo does not have a Vision and Mission Statement. Without a vision and mission the organization does not have a clear direction of the organization. CanGo is also missing a Strategic plan, without a strategic plan there is no roadmap for growth and prosperity. Strategic planning will help you foresee and react quickly to market changes and opportunities. CanGo should conduct these strategic plans routinely, by doing so it helps you to see opportunities earlier and set up contingency plans so threats are minimized. Lack of a system analysis and programmer is also a weakness for CanGo, in general a system analyst would ensure that the requirements set forth by the business are captured and documented correctly before the solution is developed and implemented. Currently this is not happening for CanGo, so this is an area that needs to be addressed, without it CanGo would not have the knowledge of understanding how present and future business needs will impact the solutions and the implementation process. Opportunities:
Investing in an in-house database that incorporates into an automated storage and retrieval system ASRS. Fully automated and integrated storage systems are the ultimate in warehouse management and efficiency. They allow for complete integration of the company’s ERP software with warehouse retrieval storage system. Order picking is optimized and controlled. CanGo would also benefit from updating their website to reinforce corporate and brand identity, this would help their existing investment in marketing go further. This would allow for CanGo to advertise services and products, build customer relations through personalized services, they could also benefit by conducting market research through their website. The internet is a great opportunity for your business to compete on a much more level playing field with much larger businesses. Threats
CanGo faces losing business from their website to other websites due to their web search taking too long, where the competition’s website is optimized and produces the results quicker
Issue 1: Marketing to the right customers and consumers is vital to every business. A company needs to know how to market to a certain target to attract their customers so they can sell their goods and create a profit from their inventory. CanGo built their success onluck and they never bothered to get into the details of how their company became successful. They are lacking important and vital information to keep their company successful. Since there is no marketing department in CanGo, I would suggest for them to hire an outside company to conduct their marketing research; I believe that they would benefit from...