COURSE: DIPLOMA IN BUS. MANAGEMENT
SUBJECT: FUNDAMENTALS OF ENTERPRENEURSHIP
Name: OLADAPO OLUWAFEMI OLAJIDE
IC/Passport No: A01854716
Index No: KL 103374
EXAMINATION TERM: T1
WORD COUNT: 1950
WORD COUNT IS FROM INTRODUCTION TO CONCLUSION
The principle of this assignment is to analyze and review the performance of jerry’s advertising business and to help him identify his company’s strength and weakness as a experienced business executive. His business strength and weaknesses is being analyzed and a plan of action is taken into recommendation to exploit on ...view middle of the document...
How your business is financed, levels of retained profit, the sales income generated and your cash flow.
Your building, your technologies, method used, your processes, IT and quality. Are there any internal issues that are holding your business back?
Identify Jerry company strength and weaknesses
Jerry’s advertising agency's strengths consist of internal factors that contribute to its ongoing success. This can include all tasks that the organization does best as well as factors such as the strength of its relationships with customers or a strong organizational culture. Critical areas to analyze when examining the organization's strengths in the SWOT analysis include marketing, finance and human resources. The possession of an especially talented creative team is an example of an advertising agency's potential strengths.
Weaknesses are internal factors that might hinder Jerry’s advertising agency and create boundaries to success. A lack of marketing expertise is one example of a weakness that Jerry’s advertising agency might possess. Another common weakness of jerry’s advertising agency includes the possession of clients who consist mainly of businesses with low quality products and services or products that are difficult to differentiate from others in the market. An effective method of identifying the organization's weaknesses is to examine the competition and determine where competing agencies excel.
Opportunities are external factors over which Jerry’s advertising agency has no control. Although his agency has no control over the existence of opportunities, it might choose to exploit them as they arise. An evolving market, such as the Internet is one example of an opportunity for an advertising agency. His organization might also choose to move into a new, international marketplace where effective competitors do not yet exist. Additionally, market fluctuations might provide either opportunities or threats to his advertising agency.
Threats are also external factors of which Jerry’s advertising agency has no control. These factors include issues such as fluctuating market conditions or upcoming legislation that will affect how the organization does business.
Capitalize on the company’s strength and overcome it’s weakness
Jerry enjoy many advantage over his competitor, his company classically have a sharper focus, agility to respond to market needs, and a stronger relationship with their customers, suppliers, and employee. But the existence of these...