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SWOT Analysis - Essay Example

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SWOT Analysis Name: Institution: SWOT Analysis While BigTime has long been revered as a firm whose primary area of concentration was consulting, at present, it endeavors to alter its image so that it is associated with additional areas of specialization as necessitated by the changing environment…
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SWOT Analysis
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"SWOT Analysis"

Download file to see previous pages The organization appears to have outgrown a vast majority of its present systems, and is presently faced with the challenge of having to layoff at least 500 workers. In order to sustain its tradition of not laying off any of its employees, BigTime will need to tackle the issues identified in the SWOT analysis presented in this report. The key issue lies in the company’s view to revolutionize its operations in order to integrate additional product offerings. This paper will provide a comprehensive SWOT analysis that will inform BigTime’s adoption of comprehensive marketing and organizational structure strategies. The SWOT analysis will be indispensable in helping BigTime take full advantage of its increasing customer base. BigTime SWOT analysis An organization’s SWOT analysis matrix is essential since it facilitates the realization of various factors concerning the organization, for instance, its strengths, weaknesses, opportunities and threats. These benchmarks are valuable in ascertaining the overall efficacy of the company’s business operations and realizing probable problematic areas and devising viable systems to tackle the problems. Strengths One of BigTime’s greatest strengths is its reputation of producing appropriate product offerings that are not only pertinent to the markets at different times, but are also tailored for each customer. In fact, the organization has been able to garner massive market presence and share based only on its name and reputation. The company is renowned for providing superior quality virtual management services to its customers. This positive reputation has been sufficient in creating opportunities for the company is diverse areas of the market. Question 1 This means that BigTime relies on its customers’ views or word of mouth as a form of marketing to other companies. Additionally, BigTime bases its marketing strategy solely on its website, which was developed 4 years ago by the vice president’s son. Through this marketing strategy, the business has attained major strides in enhancing its sales records, ultimately realizing a 20% increase in its reported profits in one year. Brand image is one of the most vital elements of an organization’s overall attractiveness. Therefore, BigTime’s good reputation and the name has a positive impact on its brand image, making the organization’s product and institutional brands quite appealing to the market. Furthermore, having operated in the virtual management market for 20 years, BigTime has in-depth knowledge of the market, which enables the company tailor its products based on market demands. Additionally, BigTime has superior infrastructure that continues to facilitate access and exploitation of applications needed to facilitate successful delivery of virtual management systems. These systems and applications are critical since they facilitate the organization’s provision of a holistic virtual experience to its customers. At present, BigTime boasts of a massive proportion of the virtual management market. BigTime’s operations in the country are approximately one-third of the market as BigTime is one of three companies that dominate the virtual management sector. Another key strength inherent in the organization is its wide array of products. BigTime offers an array of virtual services including management, organizational change, management, organizational leadership, and business. These products allow the organization to participate ...Download file to see next pagesRead More
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