Evaluating Company Performance With SWOT Analysis - Essay Sample

Introduction

EZ Pleeze is a company in the United States that concentrates on producing beef and chicken products. SWOT-analysis helps in evaluating the company, whereby threats, weaknesses, opportunities, and strengths are identified. As such, the SWOT analysis is significant because it helps a company identify negative and positive aspects through one analysis and discover how to compete better in the market (Gurel, E., & Tat, 2017). The analysis helps in looking further at how a company carries out its business process. In this case, the analysis will evaluate the different operations and taking place in the company. The SWOT analysis further helps to examine whether the company is achieving its mission as per the mission and vision statement. Likewise, through the information obtained from the analysis, the company can determine how technology, nutrition, and research have benefited the company about meeting its goals. EZ Pleeze will thus benefit from such information regarding the threats, opportunities, strengths, and weaknesses associated with the company. The evaluation helps a firm forge its strategic plan. Besides, it is important in helping EZ Pleeze to improve on its business model together with the framework of the business. This further helps the company in dealing with the different threats that may arise together with making use of the opportunities that arise in the food industry. Additionally, the SWOT analysis helps the company to improve its competitive edge over rivals like Yellow Down further. Therefore, the company can, in the process of launching a planned deal with its weaknesses and strengths while improving its competitive edge over its rivals. As such, through the SWOT analysis, the company will realize its weaknesses together with the strengths it has and therefore aims to maximize opportunities to reduce its threats while at the same time establishing itself in the market and the process gaining more market share. EZ Pleeze will, therefore, benefit from carrying out a SWOT analysis since it will discover its current state in the food industry concerning that in the future about risks and opportunities that could affect its advancement.

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Discuss internal strengths for EZ-Pleeze.

EZ Pleeze is a company that operates in the food industry. There are many players in the food industry, thus bringing about many aspects that affect the running of the business.

The main strengths of the company include innovation and creativity. The company mostly focuses on ensuring that there are new ways of making its products to meet the different tastes and preferences of their customers (Perren, 2017). Innovation is currently the way business are conducting their activities. Such business processes are tailored towards meeting the various goals of the company. Using new ways further help the company increase its efficiency in producing its products. Besides, the company is able to carry out research on the market and even on product development. The company as the internal strength of having a customer care section to cater to customers together with using technology and employing creativity in its business processes. Using technology has boosted the company's research and thus helped become one of the most successful companies dealing in chicken and meat products (Howard et al., 2019). Technological advancement, as a result, helps the company to improve its business processes. The customer care further supports the company determine the preferences and tastes of the different market segments and hence tailor their products to satisfy their market. Moreover, the company has a knowledgeable workforce that ensures quality products are produced concerning meeting the company goals. The company further ensures that employees get promotions, which further motivates them and helps increase productivity as a result. Also, there are other wellness programs that the company provides for its employees to ensure that they have fewer hindrances in their work. Employees have high motivation; as a result, hence resulting in higher productivity. EZ Pleeze ensures employee loyalty and thus maintains a highly motivated workforce in the process. The company therefore benefits from making its employees as the greatest asset in the business. As such, the company benefits mainly from the above strengths, which further help it make a mark in the food industry. The company benefits from the constant communication it has with its customer base hence learning the different preferences and tastes that help the company come up with products tailored for the various segments in the market. Such discoveries help the company to maintain a loyal customer base and, in the process, deal with stiff competition in the market.

The company further benefits from the different food chains it supplies with its products. The food chains consist of other companies that deal have international business operations - the companies in the process access new markets, which further help increase their market base.

Discuss internal weaknesses for EZ-Pleeze.

The internal weaknesses critically affect the output of the company and eventually the productivity. One of the internal weaknesses is the costly labor force. The large skilled workforce increases the wage paid by the company. The large size of the company requires more workers who increase expenses accrued by the business. The highly paid workforce further affects the way the company prices its goods. The goods, in this case, may have a relatively higher price when compared to its competitors due to increasing wage expenses. The competitors, which include Yellow Down, offer their products at a relatively lower price creating stiff competition. Customers in the process opt for lower-priced commodities even though they may not be of good quality as compared to those of EZ Pleeze (Bogueva & Phau, 2016). Other internal weaknesses are the fluctuation in finances. Such changes arise due to imbalances, which results from the company embracing widespread marketing, technological advancement, and costly advertising ventures. The expensive experiments predominantly of embracing technology together with advertising, lead to losses and cause many shareholders to lose interest in the company along with potential investors. The technology may not help the company reach its goals of acquiring more customers and thus increasing its market share. Poor direction from the top management, particularly such decisions as to the allocation of more funds or promotion of employees, can affect the company's performance, particularly when it leads to losses and the eventual laying off employees. Low morale, which is another internal weakness, results from such layoffs. Such happenings lead to low productivity as a result. EZ Pleeze, therefore, suffers a result of the internal weaknesses which affect its bottom-line. The management can thus bring about various internal weaknesses about how decisions are made, which affect both the employees and the top management in terms of the outcomes in the market.

Discuss external opportunities for EZ-Pleeze.

The company can make use of the various opportunities that include products like meat dishes and pork, among others, that will help increase the revenues of the business. Multiple companies like Yellow Down have chiefly benefited from such products. Such products will increase the market share for the company. The company can further target different segments by producing healthier foods. Customers are turning to healthier options about food intake. The company can further increase its market share by venturing into such health-conscious sections. Venturing into other countries will help the company improve its global presence together with its market share. External opportunities at EZ Pleeze include, among others. The company cannot control external opportunities together with threats that arise. The company has various opportunities concerning the various aspects affecting the company externally, mainly since the business operates in a politically stable environment (Barbut, 2016). The rapid change in technology is an opportunity for the company as it can further reach the market quickly. Furthermore, there are opportunities from companies closing, which also provides the possibility of enlarging its market base. Another opportunity is people changing their way of living, particularly regarding their lifestyles concerning their eating habits. An example is people eating more chicken products, and there being product discrimination in the market. Businesses dealing with meat products thus provide more opportunities for EZ Pleeze as they close competition. Therefore, the changing customer trends benefit the company significantly due to a broad market being available to the company due to the closure of various companies that were previously competitors. Such a large market can help the company increase its gains in the process. Opportunities further exist since the firm can further increase its research into new products and distributions mechanisms together with studying trends in the market through its customer care section.

Discuss external threats for EZ-Pleeze.

The various threats that face the company include competitors. Many competitors produce beef products in the market and thus pose a threat to the market share of EZ Pleeze. Such competitors include Yellow Down. Other threats include potential companies that may venture into the market. Moreover, the different changes in weather pose a threat to the company, particularly regarding its beef and chicken products. Mostly the rapid changes in weather cause increased uncertainty on the distribution of products to the company together with fluctuations in prices. The competitors, in this case, further affecting the profit margins of EZ Pleeze since they take part in the market share and further pose a challenge to the company's market share (Russell, Smith, M. & Smith, K., 2016).

Describe three recommendations for strategic action at EZ-Pleeze (based on the completed SWOT analysis) and justify your recommendations.

According to the SWOT analysis, there is a need for the company to focus on improving its business approach, mostly after doing market research and learning from its rivals. The various opportunities that exist to the company can help significantly in dealing with the threats, mainly those regarding competition from companies like Yellow Down. The company should broaden its research regarding its product while focusing on the different market segments. The company should further ensure that potential leaders are trained to avoid a vacuum in leadership. Such grooming of leaders will help the company have at hand employees who are ready to carry out the company's goals without much difficulty. Moreover, it will save the company money for looking for talent and further training the potential employees who may not have been part of the company (Phadermrod, Crowder, & Wills, 2019). Moreover, there is a need for the company to harness the significant opportunities existing in the United States first before going international. There is a substantial market that can further, if harnessed strategically, provide the company with more profit margins and thus help its expansion strategy in the process.

References

Barbut, S. (2016). Poultry products processing: an industry guide. CRC press.

Bogueva, D., & Phau, I. (2016). Meat myths and marketing. Impact of meat consumption on health and environmental sustainability (pp. 264-276). IGI Global.

Gurel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).

Howard, P.,...