Internal And External Environment Swot Analysis Of Woolworths Financial Services
The Environment of Business
1. Introduction
The business that will be analysed is Woolworths Financial Services (WFS). WFS is a financial service provider call-centre, based in Observatory. The company offers a range of financial products and services. These include the Woolworths’ in-store card, credit cards and revolving personal loans. The call-centre services all the Woolworths stores across South Africa.
WFS is in a joint venture with ABSA, as its financial partner.
2. Scanning the Internal and External Environment
The task at hand is to conduct an environmental scan of WFS, by identifying the relevant internal factors that are impacting the business as well as the external drivers.
In order to do this in a systematic manner the use of business tools will be utilised to assist with the task. …show more content…
Any changes that they implement mean that the WFS processes and operations has to change in line with the new rules. This has cost implications as it might require additional resources and if any rules are breached there is the possibility of a fine and huge reputational damage to the WFS brand.
3. Summary – SWOT Analysis
In order to understand the strengths and weaknesses of the business a SWOT analysis can be performed. The term SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats within the business environment.
Table1 shows the strengths and weakness which can affect WFS and these are normally internal factors. The spider web graph, Graph1, illustrates the current situation and then plots the areas that WFS intends to improve on (the areas of weakness) and to solidify on areas of strengths.
Strengths Brand Unique Leader Profitability
Current WFS has a strong brand identity in the marketplace The product features are unique WFS is a leader in the industry Showed high profits during last trading
1. Introduction
The business that will be analysed is Woolworths Financial Services (WFS). WFS is a financial service provider call-centre, based in Observatory. The company offers a range of financial products and services. These include the Woolworths’ in-store card, credit cards and revolving personal loans. The call-centre services all the Woolworths stores across South Africa.
WFS is in a joint venture with ABSA, as its financial partner.
2. Scanning the Internal and External Environment
The task at hand is to conduct an environmental scan of WFS, by identifying the relevant internal factors that are impacting the business as well as the external drivers.
In order to do this in a systematic manner the use of business tools will be utilised to assist with the task. …show more content…
Any changes that they implement mean that the WFS processes and operations has to change in line with the new rules. This has cost implications as it might require additional resources and if any rules are breached there is the possibility of a fine and huge reputational damage to the WFS brand.
3. Summary – SWOT Analysis
In order to understand the strengths and weaknesses of the business a SWOT analysis can be performed. The term SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats within the business environment.
Table1 shows the strengths and weakness which can affect WFS and these are normally internal factors. The spider web graph, Graph1, illustrates the current situation and then plots the areas that WFS intends to improve on (the areas of weakness) and to solidify on areas of strengths.
Strengths Brand Unique Leader Profitability
Current WFS has a strong brand identity in the marketplace The product features are unique WFS is a leader in the industry Showed high profits during last trading