The company deals in interior finish materials. The range is from the floor tiling and laminated floor boards to the paint and lighting systems. The company primarily sells and advices the clients on the best interior finish material to use, once they have finished their basic construction of the house. The company works closely with the homeowners, interior designers, architects, developers and construction consultants.
It is of great importance for the management of a business to know their areas of Strength, Weakness, Opportunities and Threats to be able to capitalize more on their strength and take precautions on their area of shortcomings (Marketing Teacher, 2011). It will also enable us as accompany to seize the opportunities that arise and curb any threats like the budding competitors early in time. This is because before one engages the business to carry out a particular task, one must first ensure that it has the ability, requirements and resources that will enable it to perform the task required of it (Regina Edwards, 2011). This begins by conducting an inventory of internal strength and weakness in our organization. Strengths are the attributes that are under our control in the marketing scenario and we are well equipped in the knowledge of such. While weaknesses are attributes that even though are within our reach, they still obstruct us in one way or the other from achieving the business objectives.
The strength of the company is that is has products that are high quality and top of the market range from all over the world like Spain and Italy where the tile quality and design is known to be the best in the world.
The location of the business is prime since we are located at the suburbs of Texas where the clients will not have to contend with the traffic or struggle for parking lots which is an advantage over the competitors who are in highly congested parts of the city.
Our procedures are also customer friendly since they involve easy payment modes and direct delivery to the construction site of the client. The business is hosted in a spacious showroom with various samples of tiled floors and walls as well as a functional piece of each sanitary ware displayed for clients to have a practical feeling.
Some of the weaknesses that the company experience are lack of immediate stocks when a big order has come up and there is need to have one type or color of tiles from Italy or Spain.
The other weakness is when a product may have a variation of color on the product due to lots of manufacture. It is not a common thing but occasionally there is bound to be a color variation between one batch and the next manufacture after a year or so.
There is a developing market for the interior finish with the rising number of new constructions coming up as well as people renovating their buildings to meet the international standards and changing designs and fashions hence more need for the interior finish materials.
There is a possibility of more people getting into the same business since it is lucrative and the returns are good. Despite the risks involved in importation, once people realise that it does not portend any other risks they are bound to jump in and trade in the same.
With expansion of the market and more importation, there is a likelihood of increase in taxation for the importation goods and this may mean lower profits for our company.
If the business were to start tomorrow, being that the financial aspects have been well covered, it would only take two company mangers to travel to Italy and Spain to place the order for the first consignment. This is in light of the fact that the company was already dealing with construction materials and would like to diversify the dealings to the interior finish as well. There is ample space and enough employees, however the management is to employ some more employees to handle the showroom as well.
The management style that I would use is the coaching style of management where I will be just guiding and coaching since I believe that each employee wants to achieve the best and gain satisfaction in all that they do (Michael Ison & Kerry Kempton, 2007). I will allocate the various responsibilities to the staff and allow them to show initiative, come up with ideas and make crucial decisions to be the leading interior finish company in the region.
Marketing Teacher, (2011). SWOT Analysis. Retrieved May 16, 2011 from http://www.marketingteacher.com/lesson-store/lesson-SWOT.html
Michael Ison & Kerry Kempton, (2007). The impact of management style. Retrieved May 16,
2011 from http://www.dpi.nsw.gov.au/__data/assets/pdf_file/0004/179185/the-impact-of-management-style.pdf
Regina Edwards, (2011). Importance of SWOT Analysis. Retrieved May 16, 2011 from http://www.ehow.com/about_5377992_importance-SWOT-analysis.html
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