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Another threat is represented by the rapid advancement of technology, which forces LG Mobile Company to invest large sums of money into product development. Additionally, there is also the threat of competition and the threat of continually changing customer demands.
At the level of opportunities, the first of these includes the technologic development which allows LG to quickly integrate new features into its products and better serve customer needs. Also, in the context of globalization and opening boundaries, an important opportunity is represented by the fact that the country can cross borders and sell its products into numerous countries.
3. Internal strengths and weaknesses
At the level of the internal features, the most important strength refers to the fact that LG Mobile Company is an integrant part of the LG Corporation. This means that LG Mobile -- on its own, but also as part of the LG Corporation -- possesses vast financial resources, enjoys the trust of the population and possesses a strong brand. Also, one important strength is represented by the skills and commitments of the LG staffs, who are dedicated to their profession and who drive innovation at the company.
In terms of the weaknesses, these revolve around the relative slowness with which LG has entered the mobile industry....
The company develops and sells mobile telephones, which have managed to raise customer attention. Nonetheless, the mobile market has expanded beyond just the telephones, and the results of LG in the tablet segment for instance, have been lower in comparison to those of other companies.
4. Operational efficiency
The levels of operational efficiency at LG Mobile appear to be medium. The company possesses and uses tremendous financial resources, yet its actual results are rather low. LG Mobile has made a strong statement within the field of mobile telephones, and it has acquired a strong position within this segment. Nevertheless, in other fields, such as the tablet for instance, the performances of LG linger.
The tablet segment is continually expanding and the device is the new must-have for people across the entire world. It as such becomes a need for LG Mobile to improve its operational processes. It has to reallocate its resources among internal processes to ensure that the best people and technologies are concentrated in the development of the LG tablet. Unless this becomes the immediate objective, LG Mobile would lose its competitive position within the market.
References:
LG 2010 Annual Report, http://www.lg.com/global/ir/reports/annual-reports.jsp last accessed on October 20, 2011
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