You are talking with Mike and Tiffany at lunch. "You've done some great research and brought up some good ideas to implement in the presentation," you say. "There is one element that we are missing."
"One of the most important aspects of the strategy: our competitors," Tiffany states.
"I've already done some analysis, and there are many in the global market. It seems like there are several office furniture companies thriving, but not as many custom furniture manufacturers," Mike elaborates.
"Well, we need to provide the board with some solid competitors. I'll work on finding our top two," you say. Complete the following:
Who are your top 2 competitors in the market (country)?
Provide a strengths, weaknesses, opportunities, and threats (SWOT) analysis for each competitor.
Why are they direct competitors?
Do they have an advantage?
Think of government regulations, rules, resources, and so on.
Could you form a cooperative strategy with any of the competitors?
If so, how?
If not, why?
What strategies could you use to build a competitive market profile?
Competitors in Market
Pacific Hospitality Design and Anees Upholstery are two major competitors in the US market. It has been analyzed that both companies have made a sound position in US market. Pacific Hospitality Design Inc. is the recognized leader in furniture and décor manufacturing to the trade industries. This company is the top competitor in the market and it has been analyzed that Pacific Hospitality Design Inc. manufactures and designs high range and quality of hospitality and residential custom furnishing and décor. Further, Anees Upholstery is the custom manufacturer that has been recognized for creating beautiful and thoughtfully designed high end furniture (Pacific Hospitality Design, 2012).
It has been analyzed that Mike and Tiffany also have to analyze the strength, weakness, opportunities and threats for each competitor. Producing innovative and creative products are the strengths for both the companies. New companies also have to recruit the employees that can make innovative products. Apart from this, Pacific Hospitality Design also produces unique pieces in order to attract the customers. On the other hand, the company has not captured the large part of market. Therefore, Mike and Tiffany have the opportunity to attract a large part of customers by producing new and innovative customers (Anees Upholstery, 2012). Capturing of the large part of market by the new organization will be the threat for ...
Competitors, SWOT analysis and strategic planning is examined.
Purpose of a SWOTT analysis in strategic planning; development of a strategic plan
What is a SWOTT analysis? What is its purpose in strategic planning? Must you conduct a SWOTT analysis to have an effective strategic plan? Why or why not?
What are the primary internal organizational considerations for the development of a strategic plan? Which consideration is the most important? Why?
What are the key planning factors for competitive success? Provide an example of an organization that has achieved competitive success through planning. Provide an example of an organization that has failed to achieve competitive success as the result of failed planning.View Full Posting Details