The ISHR SWOT Analysis - Essay Example

The strengths of ISHR lie in the fact that they are a highly profitable firm. The company records excellent profit results from its business undertakings. The company also enjoys the benefit of having large companies such as Coca-Cola and General Electric as their clients.

The company lacks a chief financial officer to control and manage its finances. The company’s website is also not well-built. The company has a poor marketing strategy that relies on word of mouth and no face-to-face marketing. A poor marketing strategy ensures that the company has a poor relationship with its clients.

ISHR firm recorded double-digit growth in 2008, and this signifies that the company can improve and continue its growth financially to enable its sustainability. The company can also strengthen its business acumen by enabling a proper and robust website for prospective clients.

ISHR firm’s total sales, nearly eighty percent, come from two large corporations. The company over-relies on these two clients for its financial success. This provides an extensive threat to the company since if the two clients pull out; they face a significant financial collapse.

ISHR firm should focus on improving its website to allow for a more user-friendly interface that enables easier navigation. The company should focus on networking for clients using its two prominent clients. This will ensure that they can spread the source for their sales. They should not rely entirely on the two corporations for the majority of their sales. The company can also use social sites, Facebook, and Twitter, to reach out to prospective clients as a marketing tool. The company should develop a business plan which will detail its business activity, goals, objectives, vision, and mission. A business plan will assist the firm to strategize. The company can also hire a chief financial officer to manage and plan its finances to ensure the company is effectively managed financially. The company should be able to learn from its competitors and identify their weaknesses and maximize them (Anja, 3). The firm should identify its competitors’ business strategies and analyze ways to better them.

The company must institute a total overhaul of its strategy in business, including sales, marketing, and financial management strategy (Anja, 1). On the other hand, corporate awareness should be improved by enhancing face-to-face and website meetings with clients. The company should focus on improving its website to allow for easy use and attract prospective customers. The firm should follow a marketing strategy similar to that of Jet Blue. This strategy re-emphasizes the commitment of the firm to its customers. In addition, the firm’s home office should be maintained to assist in lowering overheads. Newly employed professionals should also be involved in more management positions. Since the company does not have its chief financial officer, it should hire a part-time officer to run the position until it has grown to where it can bring in a full-time one. The chief financial officer should be given more control of the financial aspects of the firm. Read More