SWOT Analysis Presentation
Divad
IFSM461Group4SWOTAnalysis.pptxPEP Sales and Accounting Project SWOT Analysis
IFSM 461 6380
PEP Sales and Accounting Project Background
Purpose of the briefing
Business Strategy/goals
Factors or influences that determine SWOT
Controls
Solution overview
Technology-People roles & functions
Integrated
Modernized
Efficient
The brief will analyze the existing factors or influences that PEP Inc. Has and what it would take for them to achieve their end state. Identifying strenghts and weaknesses, opportunities, or threats will give them awareness into improvement or steps to fix.
The solution is to replace the old system with a Sales & Accounting platform that will automate taskings and conform to commercial standards. This will reduce cots and allow PEP to perform other functions or continue growth.
2
SWOT Analysis: Strengths
Strengths a are internal factors that the company will leverage to gain the competitive advantage over peers or market
Strengths of the company help sustain their growth as they will be able to effectively build upon past successes
3
Unique, low-cost, and efficient products for the industry
Established process and defined roles for the business
Single and centralized access database for all users
Expansion of sales staffing & manufacturing capacity
Engagement with leadership and managers for adopting changes
SWOT Analysis: Weaknesses
Weaknesses for SWOT are areas that PEP struggles with due to complacency, lack of training, or lack of up-to-date IT systems. They also have growth that they did not plan for and are establishing new requirements.
4
Outdated and time-consuming processes by staff
Prone to human error and bottlenecks due to inefficiencies
Limited ability to extract data for manager analysis
SWOT Analysis: Opportunities
In a SWOT analysis, Opportunities are identified based upon external factors. External factors include business impacts that originate from outside of the organization and its influence. (Schooley, 2023) Opportunities also relate back to strengths and weaknesses. A strength could combine with a market situation to create an opportunity. Weaknesses that the organization intends to address can lead to an opportunity in the market. This is especially true where a weakness is consistent across an industry.
New Market Expansion:
PEP has demonstrated that it can successfully capture a new market. What is has done successfully once should be used as a model for identifying new markets and partners to fuel future growth.
Process Improvement:
Focusing on resolving the deficiencies in existing business processes will create an opportunity to take advantage of major improvements in process automation. This will have a leapfrog effect compared to large manufacturers with greater investment in legacy solutions than PEP has made to date.
Volume Discount Offering:
PEP can push the market further to its products by creating incentive to buy more products at a time. Creating a deeper sales pipeline helps to secure cash flow and the future of the company.
New Product Expansion:
Expand the scope of engineering research to identify markets where our innovative offerings can create competitive advantages. The technology and patents at the core of PEP's success should be leveraged to continue to refine and expand the products offered by the company.
5
Continue expansion into new markets with additional Sales staff
Leverage industry standard solutions to address process inefficiency
Marketing campaign for the Volume Discount offering
Expand product offering through engineering innovation
SWOT Analysis: Threats
The Threats category of a SWOT analysis accounts for external threats to the success of the company. Threats can relate to weaknesses such that a combination of a weakness and a threat represents a serious risk to the company. (Schooley, 2023) The threats to PEP come from a competitive market from larger organizations and overseas competition. Aside from competition, the other major area of concern is regulations and laws, especially as PEP expands into new and less familiar markets.
Excess Demand:
If PEP is unable to meet the demands of the market, customers will be encouraged to seek alternatives or forgo the benefit's of PEP's products. Growing the customer base also creates greater demand for regular improvements to existing products to address industry or technology changes.
Competitors with better B2B offerings:
PEP's competitors are currently ahead with their Business-to-Business (B2B) customer experience. Competitors that provide a better sales and purchase experience could succeed in winning contracts even considering PEP's superior technology. Partner channel integration allows customers to efficiently manage their supply chain and could be a requirement for some organizations.
Loss of Technical Advantage:
PEP has cornered a market, but strong competition could erode the technical advantage. Competitors will work aggressively to respond to the threat of losing their customers. Continued success will be impacted by competitors moving to retain or reacquire customers lost to PEP.
Regulatory Risk:
Expanding into new markets creates compliance risks from new regulations and laws. The cost of non-compliance can be heavy fines, production stoppage, or criminal charges. Ensuring that products and PEP itself meets requirements is a costly activity that could impact short term profitability or the speed with which PEP can enter a market. Competing with companies already operating in this space is a significant disadvantage for PEP due to lack of experience.
6
Failure to meet market demand creates opportunity for competitors
Larger manufacturers offer more modern customer interfaces
Established manufacturers surpass PEP offering
Expansion into the medical equipment market creates significant compliance exposure
SWOT Analysis Matrix
Strengths
Unique, low-cost, and efficient products for the industry
Established process and defined roles for the business
Single and centralized access database for all users
Weaknesses
Outdated and time-consuming processes by staff
Prone to human error and bottlenecks due to inefficiencies
Limited ability to extract data for manager analysis
Opportunities
Continue expansion into new markets with additional Sales staff
Leverage industry standard solutions to address process inefficiency
Marketing campaign for the Volume Discount offering
Expand product offering through engineering innovation
Threats
Failure to meet market demand creates opportunity for competitors
Larger manufacturers offer more modern customer interfaces
Established manufacturers surpass PEP offering
Cashflow lagging demand creates budget shortfalls in the short-term
Engagement with leadership and managers for adopting changes
Expansion of sales staffing & manufacturing capacity
Bridging the Gap Between Strengths and Weaknesses
Update their technology systems and train staff to operate & maintain
Integrate their product development and sustainment operations (sales, invoicing, shipping, and billing)
Real-Time system access and updating
Automatically generated reports and actions
Customer Account interface
Invoice interface
Payment processing interface
Pep Inc. Managers and executives should identify ways to improve their services or processes. They can establish training and documentation for new technology and new hires. Reports will provide them all the data but they must quantify and assess the metrics to see if there is gain or loss in performance. They must continiously re-assess their performance and ask for feedback from supervisors and the job performers and even customers.
8
Mitigating Threats and Risks
Identify consumer targets and focus on them.
Adopting consumer-friendly products and interface variations.
Increased learning about their competitors.
One major step ITSC and PEP can take that will allow them to deal with cases of inability to meet market demands and extra competition ( results from a situation where your customers shift allegiance) is to identify their consumer targets and focus on them. If PEP has a 20 % base of a population consuming its products, then they can plan well for this number and their demand trends that will allow them to all the time meet their demands.
In cases of when consumers are tempted to change to a more desirable manufacturer, PEP knowing its consumers can plan well for expansions and any variation in taste that will prompt any switch to the competition. PEP can do this by adopting consumer-friendly products and being able to design their systems to adapt to consumer tastes and consumer-preferred interfaces. Thus, having an interface that variable enough for all kinds and types of consumers to use.
PEP can mitigate the competition of established manufacturers by learning more about them. What makes them different? What do they do that PEP doesn’t do? Where did they come from and how they got where they got to? PEP can study their products, services and the experiences they give their customers and strive to do better. For instance, if the more established competitors have more income flow and that supports their established efforts, what makes it easier for them to balance their cashflow and revenue? And if found out, how or what could PEP do to become better. Knowing their competitors will help PEP make informed decisions to be able to stay I the competition and ousted by the competion.
9
Strength Leveraging Steps
Steps PEP can take to leverage strengths. The following steps to leverage strengths has been determined
Establish a process
Define business roles
Centralize data access
Product efficiency
Cost reduction
Apply discounts
SWOT Analysis Matrix
Action Plan Marketing and Organizational Enhancements
Summary/conclusion slide (keep in mind the purpose of the briefing is to obtain executive approval to implement the SWOT Analysis process)
References
Alouffi, B., Hasnain, M., Alharbi, A., Alosaimi, W., Alyami, H., & Ayaz, M. (2021). A systematic literature review on cloud computing security: threats and mitigation strategies. IEEE Access, 9, 57792-57807.
Mishra, S., Anderson, K., Miller, B., Boyer, K., & Warren, A. (2020). Microgrid resilience: A holistic approach for assessing threats, identifying vulnerabilities, and designing corresponding mitigation strategies. Applied Energy, 264, 114726.
Schooley, S. (2023, February 21). SWOT Analysis: What It Is and When to Use It. Business News Daily. How SWOT Analysis Can Help Grow Your Business (businessnewsdaily.com)
Zhang, N., Mi, X., Feng, X., Wang, X., Tian, Y., & Qian, F. (2019, May). Dangerous skills: Understanding and mitigating security risks of voice-controlled third-party functions on virtual personal assistant systems. In 2019 IEEE Symposium on Security and Privacy (SP) (pp. 1381-1396). IEEE.
