Question

Please kindly define a project, such as a new e-Commerce system for the BestBuyor Bicycle-rent app or anything that you like. Then based on your project, please perform the SWOT analysis similar to what we did together in the class. We need to have at least two or three items for each of the SWOT categories.

Answer 1

You can define the company however you like. This SWOT analysis will work with everything.

STRENGTHS:

1. Financial Operations: Financial transactions through electronic payment systems are easy, fast, and can be done from any part of the world.

2. Marketing: The advertising of your products is cost-effective in comparison with conventional offline system.

WEAKNESSES:

1. Psychological Impact: Absence of the direct interaction between the customer and the seller makes impossible to affect the decision making.

2. Personal Aspect: A great number of consumers prefer to avail the service personally visiting the market rather than booking through the internet.

OPPORTUNITIES:

1. 24/7 Availability: Selling on the internet allows taking orders around the clock on every day of the week.

2. Market Growth: With increase in number of online users everyday, the market will grow substantially.

THREATS:

1. Competition: There will be many other companies with the same motive which will increase the competition and cause reduction in prices and profit margins.

2. Fraud: Some consumers have concerns about fraud and misuse of their financial data.