SWOT analysis stands for Strengths, Weaknesses, Opportunities and Threats. It is a method used to examine and collate the internal and external factors that are having an affect on a business 's running and success. The strengths and weaknesses refer to the business 's internal environment, while the opportunities and threats arise from the external environment of the business. SWOT is used for strategic planning and evaluating the current position of a business.
Organisations are able to use SWOT to maintain and grow their strengths by recognising the areas of the business that are efficient. Organisations also use SWOT to ensure that they work upon their weaknesses, secure their opportunities and work against their threats in order to remain
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Another issue is that 50% of staff members are under 30 years old. Although it is good to have an extent of fresh ideas from young staff members, with that you also need experience and more mature personalities and workers around them.
3. The SWOT analysis also shows that Heck are potentially missing out on a huge increase in sales by not expanding to overseas countries. Andrew Keeble states that the company would lose control of quality by sub-contracting manufacturing, but that lack of risk-taking could potentially cause the company to come to a stand-still in their expansion.
Question 4:
1. To become successful themselves, Heck must identify their competitors and try to match them by releasing their own unique products or altering their pricing strategies. This will allow Heck to keep up with the competition and create their own customer base in the new sector.
2. Heck could look to employ people over the age of 40, already with similar experience and training to provide more maturity to the company. This could be done through recruitment techniques, specifying the age requirements.
3. To overcome missing out on international expansion, the company could look to expand its management party and base some trusted owners/managers in other countries in order to capitalise on the higher