ToolsCorp Corporation SWOT analysis

1. Strengths and Weaknesses

Concerning ToolsCorps SWOT analysis, Weakness and Strengths represent internal environmental factors.

1.1 Strengths

An organizations strengths set it apart. Often, the strengths of a corporation are derived from its mission statement that is used to draw clients to buy its offering. Strengths may be tangible or intangible (Management Study Guide Content Team, 2018). They may be defined as a talent possessed by a corporation in a particular operational area, which helps it deliver results with minimal or no efforts. ToolsCorp possesses several operational strengths that hold employees together. In their absence, remaining competitive would prove challenging.

ToolsCorp is an esteemed and popular organization in Canada and America, which may be considered one of its strengths. In Tennessee, it has made considerable profits selling its range of power tools, microwaves, cooking ranges, lawnmowers, and lawn furniture. Its name alone suffices to ensure its products sell. Product quality is the second strength of the company. ToolsCorps products are of the finest quality in the field. It has several production checkpoints to ensure all tools manufactured are of top quality (Nijssen & Frambach, 2013).

A third strength of the organization is customer service. ToolsCorp makes clients feel important when they approach the company with any complaint or issue about its products. ToolsCorps clients are treated with the utmost respect, like royalty. All complaints are given due attention and considered highly precious as the corporation constantly seeks ways of improving its business using novel technology. The capability of creating, developing, and improving its technology sets the company apart from the competition. Considering both good and bad aspects of improving is a prudent idea (Nijssen & Frambach, 2013).

ToolsCorp wishes to excel in achieving its sales targets. Being a popular brand in Canada and the U.S. certainly ensures the organization can accomplish its financial objectives in North America. Furthermore, patience with clients ensures the forging of lasting relationships and has helped the company draw and win over a massive customer base. To sum up, the company possesses the following strengths popularity, customer service, product quality, achieving sales objectives, and creation of novel technology each of which aids it in achieving greatness as a company.

1.2 Weaknesses

Weaknesses refer to organizational factors that hinder achieving greatness and cause it to stagnate (Management Study Guide Content Team, 2018). They may set the company along the wrong course, leading to the development of unhealthy habits. Failure to meet corporate aims or standards constitutes a weakness. Organizations must learn from such...…Global Competition: The company may encounter innumerable immense challenges in its attempt to go global. It may already have several rivals in the international market with considerable competitive advantages.

b) Strong Competition: Rivals can draw away the companys potential and existing clients with their superior- quality services and products.

c) Governmental Regulations: Host nations governmental regulations and rules may adversely impact company operations.

d) Political Risk: Business rules may quickly and unexpectedly be changed by host governments, adversely impacting ToolsCorps profitability and growth.

e) Volatile Costs: The organization must anticipate and plan for situations like skyrocketing costs to avoid production delays.

f) Substitute Product: Clients can easily shift over to another organizations services and products in case of good substitute products (IPL Consultants B.V, 2003).

External threats to the company include substitute products and raised product/ service prices, as clients may easily shift over to another companys services and products. The company may face several challenges in its attempt to go global as it may already have several rivals in the international market with considerable competitive advantages (Research and Markets, 2019).

An unexpected international economic crisis may occur, or host governments may alter business rules these are also threats capable of adversely impacting ToolsCorps growth. Sudden host governmental rule changes often adversely impact operations of multinationals in…