Final Report - CanGo
Executive Summary
CanGo
A successful internet startup company, CanGo has grown from a small retailer of books to an online retail hub where customers can purchase games, movies, music, and books. CanGo is looking to move forward into new and emerging markets such as online gaming while seeking to enhance their current operations through the use of technology. In order to help address any issues which may occur because of these proposed changes, CanGo has enlisted our consulting firm to help them with their financial and managerial problems. We have identified several key areas in which the company could stand to improve, and highlighted several important financial ratios which will help the firm to monitor its position as it moves forward. Along with these insights, we have suggested several new innovations which could help place CanGo into position to become a leader in online retail and gaming.
SWOT Analysis of CanGo Inc.
Strengths and Weaknesses (Internal)
Strengths
Established company:
CanGo Inc. has been an established company for over 6 years. The company has an impressive track record for selling books online. Liz, the CEO and her employees want to branch out into different venues. Because the company already has a strong customer base, it won’t be as difficult as a company just starting out.
Offer a new product:
Offering a new product will bring in additional revenue. According to market researcher DFC Intelligence, the video game industry is expected to grow from $66 billion worldwide in 2010 to $81 billion by 2016.
Professional Staff:
All of CanGo employees have a college background. They use critical thinking and logical reasoning to solve problems. The employees are the backbone of the company that can help grow the business into a large corporation.
Low Overhead:
CanGo operate their business out of an office. They do not have to worry about the expenses that some of the larger company accumulate.
Weaknesses
No company
CanGo
A successful internet startup company, CanGo has grown from a small retailer of books to an online retail hub where customers can purchase games, movies, music, and books. CanGo is looking to move forward into new and emerging markets such as online gaming while seeking to enhance their current operations through the use of technology. In order to help address any issues which may occur because of these proposed changes, CanGo has enlisted our consulting firm to help them with their financial and managerial problems. We have identified several key areas in which the company could stand to improve, and highlighted several important financial ratios which will help the firm to monitor its position as it moves forward. Along with these insights, we have suggested several new innovations which could help place CanGo into position to become a leader in online retail and gaming.
SWOT Analysis of CanGo Inc.
Strengths and Weaknesses (Internal)
Strengths
Established company:
CanGo Inc. has been an established company for over 6 years. The company has an impressive track record for selling books online. Liz, the CEO and her employees want to branch out into different venues. Because the company already has a strong customer base, it won’t be as difficult as a company just starting out.
Offer a new product:
Offering a new product will bring in additional revenue. According to market researcher DFC Intelligence, the video game industry is expected to grow from $66 billion worldwide in 2010 to $81 billion by 2016.
Professional Staff:
All of CanGo employees have a college background. They use critical thinking and logical reasoning to solve problems. The employees are the backbone of the company that can help grow the business into a large corporation.
Low Overhead:
CanGo operate their business out of an office. They do not have to worry about the expenses that some of the larger company accumulate.
Weaknesses
No company