Swot Analysis of Cango
SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. The SWOT analysis will help CanGo understand the opportunities that are available and what threats may affect its operations. Before moving forward CanGo needs to assess the position they currently have in the market place. The use of a SWOT analysis technique will be beneficial at this point and will serve as the baseline to elaborate on a strategic plan for the organization. Be Bold has been observing CanGo’s operations for a couple of months, and have developed the following preliminary SWOT Analysis from these observations: Strength * Purchase an automated storage and retrieval system (ASRS) to help improve the warehouse. An automated storage and retrieval system (ASRS) is a great solution for CanGo’s inventory handling. * CanGo has experienced exponential growth in their first two years of operation. CanGo has been recognized as one of the fastest growing small business in the Hudson Valley. * Constant interest in research and improving company. As we can see that CanGo is always looking for something new, they are always trying to beat their competitors, they are constantly trying to improve company, and find another way to be successful and gain profit. Weaknesses * CanGo, Inc. has no vision or mission statement. Growth opportunities are imminent and the possibility to go public requires a clear vision and mission statement in order to understand their direction on the market * CanGo is lacking in management by objectives (MBO). The aim of MBO is to increase organizational performance by aligning goal and subordinate objectives throughout the organization. * CanGo is missing a strategic management plan. A strategic approach will help CanGo build teamwork by developing commitment and trust; will strengthen the leadership team by aligning their goals with those of the CEO; and will move the organization from the current status quo to an