Swot Analysis Of Ventura Boats Samples †MyAssignmenthelp.com

Question: Discuss about the Swot Analysis Of Ventura Boats. Answer: Swot Analysis Of Ventura Boats Strengths It has strong global presence Designs and builds small sized and high quality luxury boats with traditional materials Sell their boats directly to the customers and boat yards as well (Grant 2016) Ventura boats has power of negotiating with different vendors It has diverse staffs who helps the company to go forward in the diversified market It has prospered in the past and built strong reserves of cash Weaknesses The revenues of the respective company is dropping in the present situation There has been long term debt on the construction of different new boats The rising cost of the fuel is the other weakness and it is affecting the business of Ventura Boats (GURCAYLILAR-YENIDOGAN and AKSOY, 2018) The manufacturing technology of Ventura Boats is outdated in nature The government of Australia has stated that there will be some boats that will be restricted to be sold by Ventura There are no such innovation or introduction of new models of boats and this is affecting and declining the portfolio of products of Ventura Boats Opportunities Bigger boats are prepared by Ventura Boats that will be luxurious in nature (REZAEI, KHAVARIAN and GHAFURZADEH 2016) Ventura Boats can introduce and innovate new kind of models of boats and make different technological advancements The current products made by Ventura boats will be legal in nature in the present scenario (Chiang, Chen and Ho 2016) There are customers who are passionate about buying boats from Ventura and this will increase business of Ventura Company Threats The different advanced boat builders have commented that they will be closing traditional boat companies and this is a threat for Ventura Boat Company and this is affecting morale of the employees Significant departure of different staffs are risk and threat to Ventura Boat Company There is huge rate of competition in the entire market and government legislations Threats And Opportunities Analysis From the SWOT analysis of Ventura Boats, it can be seen that there are different strengths, weaknesses, opportunities and threats of the company. From the SWOT analysis, the external environment analysis has been done wherein the opportunities and threats are discussed as follows: Threats It can be seen that there are different threats of Ventura Boats that includes there are different technologically advanced builders who are looking for smaller competitors (Kuimov, 2017). Ventura Boats is one such small competitor in the market who is not able to perform well in the market and the technologically advanced boat companies wanted to acquire the share of market, liquidate the assets, and close the small competitors in the market. This is one of the huge threats for Ventura, this has influenced the morale of the employees, and the attrition rate had been huge. There are different government legislations that is affecting the market and this is creating trouble for the company as well (Huizingh and McCarthy 2015). Opportunities On the other hand, there are different opportunities of Ventura Boats that has helped them in gaining huge competitive advantage in the entire competitive market (Bohari, Hin and Fuad 2017). On the brighter side, the government has created restrictions on the traditional boats, however Ventura boats has the opportunity to create new models with implementation of different innovation in an effective manner. The other opportunity that will be gained by Ventura Boats is that the current development of the new products will be legal for the coming years as well (Rothaermel 2015). Recommendations With the usage of Ansoffs Matrix, it helped in analyzing the alternative growth strategies of Ventura Boats. The Ansoffs matrix helped in focusing on the present as well as potential products along with markets. The market penetration, development along with product development has been utilized in the construction of different boats. The product diversification is essential in nature, as this will help them in diversifying the variety of products in the market. From the Ansoffs matrix and threats and opportunities analysis, it can be analyzed that product development is necessary to be done by Ventura boats. There are different threats to the existing business of Ventura Boats wherein the other competitors in the market are technologically advanced and developing different luxurious boats. These companies are planning to liquidate the business of Ventura Boats, as they are small competitors. With the help of product development, the Ventura Boats can increase their scope in the competitive market and this will help them in gaining competitive advantage as well. A product development is appropriate recommendation strategy that can be applied by respective company Ventura Boats, as this will help them in gaining more advantages from the specific customers and target customers as well. Ventura Boats can face other issue that is related to legislations of the government that will be taking the existing and traditional products obsolete and their sale will be restricted as well. Furthermore, in regards to the respective matter, the company can build new technologically advanced products and this will be made legal by the government of Australia for the future as well. The respective company needs to understand the requirements of the customers in the market as well as they are the assets of the company. The main aim of Ventura Boats is required to be on the competitors in the market, as this will help them in understanding the differentmarketing strategies that can be used by them in the future to gain competitive advantage in their business. The market share has to be increased by the company, as this will provide them with differentmarketing techniques that can be applied by them to attract customers and make their business more competitive in the present market scenario. Lastly, the strategy of product development will include making more small luxurious boats that will be better than the competitors with technological advancements. The core competencies has to be analyzed in an effectual manner by Ventura Boats as this will help the company in boosting morale of the employees and provide the customers with the necessary requirements desired by them. References Bohari, A.M., Hin, C.W. and Fuad, N., 2017. The competitiveness of halal food industry in Malaysia: A SWOT-ICT analysis.Geografia-Malaysian Journal of Society and Space,9(1). Chiang, Y.M., Chen, W.L. and Ho, C.H., 2016. Application of analytic network process and two-dimensional matrix evaluating decision for design strategy.Computers Industrial Engineering,98, pp.237-245. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. GURCAYLILAR-YENIDOGAN, T.U.G.B.A. and AKSOY, S., 2018. APPLYING ANSOFFS GROWTH STRATEGY MATRIX TO INNOVATION CLASSIFICATION.International Journal of Innovation Management, p.1850039. Huizingh, E. and McCarthy, K.J., 2015, January. The Innovation Portfolio Risk Matrix: An Empirical Test. InISPIM Conference Proceedings(p. 1). The International Society for Professional Innovation Management (ISPIM). Kuimov, V., 2017. A Contextual-Functional Analysis of the Enterprise Performance.International Journal of Entrepreneurial Behavior Research,23(2), pp.356-362. REZAEI, M., KHAVARIAN, A. and GHAFURZADEH, M., 2016. The Development of Industry in Yazd Province by Using the SOAR Strategic Framework and ANSOFF Matrix. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill Education.