Environmental scan and swot analysis, Microeconomics

Assignment Help:

Environmental Scan

SWOT analysis: SWOT analysis will help to describe about the strengths, weakness, opportunities as well as threats.

This is the strategic planning method and it helps to evaluate the internal as well as external environment accordingly.

Strengths: The major strengths of the business will be identified with the characteristics and advantage of the company. This is internal structure of the business. The major strength of the company is that they provide personal training sessions to the participants. Thus there are other important strengths such as:

  • They provide affordable, convenient and enjoyable programs to their trainees.
  • They provide training to meet the fitness facilities for their client requirements.
  • The company have highly organized and highly qualified and expert trainers to provide fitness services.
  • They have one in one in home training programs for their customers.
  • High quality and comfortability are the major focus of the company.
  • They generate more than 120 new clients every month and continue with retaining more than 30 previous clients every month.
  • They also apply developed and sustainable lifestyle changes.
  • They provide unique differentiated and low pricing strategy to gain the position of market leader.

Weakness: This determines the disadvantages and risks of the business. This is the internal analysis of the environment.

The company's major weaknesses are as follows:

  • Other competitors provide in-home personal needs to meet the client requirements which are the major weakness of the company.
  • There is very low expansion created by the company so, the market awareness is very low.
  • It is newly established organization, established before two years, they completed their journey.
  • They don't have their own facilities and own resources, they always take that on lease and this is a big trouble and major weakness of the company.

Opportunities: This is the external environment which helps to improve the performance in the business environment.

The opportunities for Bounce fitness is as follows:

  • The company can also provide in-home services to its clients for better purposes and this will also them to increase the huge opportunity in terms of generating more revenues and creating more profits.
  • Thus, the company could also focus on marketing and advertising activities to increase the opportunity and to lead with the business with proper strategies.

Threats: This is the parameter that helps to define the elements which causes trouble for the business.

  • Major competitors are the threat for the company known as Bounce fitness and this can be reduced with the help of increasing advantages and increasing the number of services. (Precisiongroup.com, 2012)
  • The company Bounce fitness should focus on its unique and differentiated services as compared to its competitors for better achievements and better success strategies. They need to focus on major improvements with the help of scope of new opportunities. Thus, they can reach the target market successfully.

Related Discussions:- Environmental scan and swot analysis

Production and cost and market structures, In the long-run equilibrium, eac...

In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?

Cost analysis, What is cost analysis? Cost–benefit analysis known as CBA, s...

What is cost analysis? Cost–benefit analysis known as CBA, sometimes known as benefit–cost analysis BCA, is a systematic process of calculating & comparing profit and costs of a pr

Describe the law of supply, Supply of a commodity is functionally related t...

Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in

Trend and structure of income, TREND AND STRUCTURE OF INCOME: Each sec...

TREND AND STRUCTURE OF INCOME: Each sector of the economy employs natural, human and material resources and contributes to the aggregate flow of goods and services during a gi

Token privatisation, Token Privatisation: This implies the sale of 5 per ...

Token Privatisation: This implies the sale of 5 per cent or 10 per cent shares of a profit-making public sector enterprise in the market with the objective of obtaining revenue t

Cost, define cost its types with curves

define cost its types with curves

Level of aggregate demand in economy, Q. Level of aggregate demand in econo...

Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co

Conservaton of mass, IN THE LABORATORY OXYGEN IS PRODUCED BY HEATING POTASS...

IN THE LABORATORY OXYGEN IS PRODUCED BY HEATING POTASSIUM CHLORATE ACCORDING TO THE EQUATION 2KCLO3-2KCL+3O2. WHEN 298g OF KCLO3 IS HEATED IT GAVE 181.2g OF OXYGEN. GIVEN THAT 32g

Disposable personal income, Disposable Personal Income The amount of c...

Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.

Elasticity of demand, #q The price of a laptop increases by 20% and there i...

#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd