Reference no: EM133236259
CraftMania SWOT Assignment
CraftMania began as two small, independent stores with one focusing on baked goods (especially cakes) and the other on natural items like honey, candles, and lotions. The two owners met in an online class, found they shared some common values and goals, and merged their two stores. The new company grew rapidly and the rest, as they say, is history. CraftMania is now a nation-wide chain of 400 arts and crafts stores.
We covered CraftMania's mission, vision and values in a previous assignment (Understanding Mission and Values Assignment).
SWOT Analysis
Below is a brief summary of the highlights of the SWOT analysis you and your HR team recently conducted for the company.
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STRENGTHS
- Appealing, well-designed stores
- Fun, hip advertising
- Quality merchandise
- Helpful associates
- Promotional events that increase store traffic
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OPPORTUNITIES
- Customers would shop online for many items.
- Customers want craft classes and informed sales associates.
- Customers prefer early morning and evening shopping hours. (The company's present hours are 9-8, Monday through Saturday.)
- Digital photographers have created an increased demand for picture framing
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WEAKNESSES
- Higher prices than some competitors
- Located primarily in suburban areas
- Hard to find daytime sales associates
- High turnover among sales associates
- Hard to keep popular items in stock
- Decline in demand for silk and dried flower arrangements
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THREATS
- Major retail stores with craft departments, such as Wal-Mart and fabric stores (like Jo-Anns)
- Other craft chains such as Michael's Arts and Crafts
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YOUR ASSIGNMENT: Review the strengths, opportunities, weaknesses & threats identified in the analysis. Based on this information, what are the implications for HR (i.e., what areas of HR could be impacted and what actions might HR need to take to address this SWOT analysis)?