Question

Please choose a company and discuss the following topics: Which of the five competitive forces is creating the strongest competitive pressures for your company?” What internal strengths and weakness does your company have? What external market opportunities for growth and increased profitability exist for your Company?

Answer 1

Answer:- Currently I am working in a company which is operating in facilitating the customized bikes to the customers.  Among the five competitive forces, the strongest competitive pressures for my company can be seen as bargaining power of the customers. As we are working in a Niche market and thus the number of customers is very less and they have their specific requirements, therefore, a lesser number of customers offers the biggest threat or pressure to the company.

The Internal strengths of the company are as below:-

Strong customer requirement focus

Team of highly experienced and skilful workers

Unique customization services offered to the customers

The Internal weaknesses of the company are as below:-

Lack of futuristic vision

Technological advancement is still lacking

Cost of operations and customisation is relatively on higher side

The biggest external market opportunities for growth and increased profitability exist for the Company can be seen as there is an upward swing in the number of customers who are looking to modify their bikes. These customers are ready to pay the price if they receive the desired services.