Strengths Weaknesses The existing premises is not fit to Amy’s marketing experience, enterprising personality handle the orders that would come (ambition/determination etc.) and from the large retail outlet. drive to succeed. Extra finance is needed to expand language degree useful if the business into the large retail Amy’s – she were to export. outlet to buy equipment, hire staff and source a new premises. Start your own business course completed. The product range may not be diversified enough, some of the High quality product. products are seasonal in nature or The business received awards for may have a short life cycle. the success of the business and the The business management quality of its product. structure, Is Amy trying to do too The business has a diversified much herself? product range e.g. personalised Unlimited liability? Amy does not gifts. seem to have the protection of Use of locally sourced ingredients & limited liability. recruitment of local staff supporting – The business has no track record of the local economy. borrowing could affect an Recruitment and training processes – application for a loan. within the business. Strong focus on ICT no website, social media staff development would motivate – presence mentioned. staff. Staff may not be highly experienced Amy invested her own capital – large amount of college graduates showing she believes in the – recruited. business. Do the products meet the needs of a Amy has conducted a lot of market more health conscious consumer? research. No borrowings so no debt burden on If the business expands is there enough availability locally of the the business. necessary ingredients? Amy is aware of needs of the No clear USP mentioned. business and how to develop them. The business is forward thinking, it sought advice from two agencies.
Strengths Weaknesses Amy’s marketing experience, enterprising personality (ambition/determination etc.) and drive to succeed. Amy’s language degree – useful if she were to export. Start your own business course completed. High quality product. The business received awards for the success of the business and the quality of its product. The business has a diversified product range e.g. personalised gifts. Use of locally sourced ingredients & recruitment of local staff – supporting the local economy. Recruitment and training processes within the business. Strong focus on staff development would motivate staff. Amy invested her own capital – showing she believes in the business. Amy has conducted a lot of market research. No borrowings so no debt burden on the business. Amy is aware of needs of the business and how to develop them. The business is forward thinking, it sought advice from two agencies. The existing premises is not fit to handle the orders that would come from the large retail outlet. Extra finance is needed to expand the business into the large retail outlet to buy equipment, hire staff and source a new premises. The product range may not be diversified enough, some of the products are seasonal in nature or may have a short life cycle. The business management structure, Is Amy trying to do too much herself? Unlimited liability? Amy does not seem to have the protection of limited liability. The business has no track record of borrowing – could affect an application for a loan. ICT – no website, social media presence mentioned. Staff may not be highly experienced – large amount of college graduates recruited. Do the products meet the needs of a more health conscious consumer? If the business expands is there enough availability locally of the necessary ingredients? No clear USP mentioned.