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Swot analysis

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Introduction

Swot analysis focuses on the internal and external environment of our business, examining strengths and weaknesses in the internal environment and opportunities and threats in the external environment. Swot Analysis is a very effective way of identifying our strengths and weaknesses, and of examining the opportunities and threats we face. Swot analysis looks at the factors which affects the success or failure of our business. Our company's strengths includes the following * We have a well motivated workforce. * Well and good established types of products. * Our young enterprise group has a strong sales force. * Some students in my group have past sales experience. * We can also change direction quickly if we find that our marketing is not working. Our company's weaknesses includes the following * Our company has no market presence or reputation. * We have a small staff with a shallow skills base in many areas like Marketing research area, financial area. ...read more.

Middle

Etc. this store is located at Romford market. * Change in consumers taste, this may make consumers stop buying our products. * Change or reduction in population of students PESTEL analysis is used to scan the political, economic, social, technological environment within which the company operates in order to identify changes in trends. This might include change in fashion of students, new type of products and services, change in life style. Identifying PESTEL is a useful way of summarising the external environment in which our business operates. Political factor affecting the young enterprise business The government affects our business locally since we will not be exporting our products outside UK we would only be affected locally. We would need to collect local permission from local council if we are selling our products on the streets or market we would need to collect a license from the local council. Government policies, trading policies and regulatory bodies also affect our young enterprise company. ...read more.

Conclusion

* It helps us to understand our competitive advantage or disadvantage relative to our competitors. * To generate understanding our competitors past present and most importantly future strategies. * To help us forecast the returns that may be made from future investments that is, how our competitor respond to a new product or pricing strategy. Our main competitor is Claire's accessories in which they sell gift products, fashion accessories like ladies hand bags, head bands, jewelleries and wrist watches. Etc. Claire's accessories are located at Romford and other different locations it also has stores abroad. They sell good quality products to customers and also advertise their products nationwide through posters, media and internet. Their staffs are well motivated and have good customer service in which we should portray. Claire's accessories distribute their products through different means, they also have good promotional strategies like discounts for students or buy 1 get the other free, and their main objective is to make profit. We also have other competitors in college their mainly selling jewelleries. ...read more.

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