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SWOT Analysis- Indian Retail Industry-Pantaloon Retail (India) Ltd. Part IX
SWOT Analysis SWOT analysis is a significant tool for understanding the interdependence between the organization and its surrounding environment. In order to attain the objective, many other techniques like strategic issue analysis, competitor analysis, capability analysis and market analysis are used to influence the input components of the SWOT analysis. The analysis considers the strengths, weaknesses, opportunities and threats of the organization. This establishes a framework that appraises the strategy, directs and positions the firm. The analysis is also applicable to versatile domains including business planning, competitor evaluation, strategic planning and business and product development. A SWOT analysis is a subjective appraisal of the data, organized in a logical SWOT format which injects understanding, discussion, presentation and decision making. The SWOT analysis offers a brief overview of the significant, relevant and necessary information about both the internal assets and the market audits. This helps to derive the significant success factors and evaluates the strengths to find out competitive advantages and weaknesses. Using the analysis, the organization exploits the opportunities to have an edge over its competitors. In the process the organization is able to reduce and in turn remove the weaknesses and turn them into strategic opportunities. Furthermore, the company would be able to diminish the unfavorable situations like threats. SWOT analysis offers a number of strategic directions to the organization to develop the strategies and align it with the business objectives.
MBA TERM PAPERS CUSTOM ESSAY WRITING SERVICES Consequently, the SWOT analysis of the organization is applicable to a number of theories like Boston Consulting Group Portfolio (BCG Portfolio), Balanced Scorecard (BSC) and other strategic management tools. Using the information offered by the SWOT analysis of the organization, new strategies are evolved to defeat the competition and to be ahead of the competitors. SWOT analysis has been applied to analyze the strengths, weaknesses, opportunities and threats of Pantaloon so as to understand its competitive advantages and future opportunities. A comprehensive understanding of the weaknesses and an awareness of the threats are very significant for the organization to avoid and reduce the impact of both. The SWOT analysis of Pantaloon is discussed below.
Strengths
Understanding the requirements of the value retail segment: Pantaloon has been able to align its retailing strategies in line with the requirements of the middle and lower middle class group. The business plan is intended to implement the concept of offering retail service to the group which takes into account the majority of the population, i.e. the concept of value retailing. The group offers a wide range of products in the apparels and the accessories section; FMCG products, food products and consumer durables. Pantaloon aims at offering quality products at competitive prices. The group focuses to maximize the value perceived by the consumers while spending their money on goods available in the Pantaloon stores. The group attempts to reduce the total costs through a number of measurements. These measures include procurement of the merchandise directly from the small and medium size vendors and suppliers, in-house apparel production, efficient logistics and distribution management system. Another significant way
MBA TERM PAPERS CUSTOM ESSAY WRITING SERVICES adopted by Pantaloon for minimizing the cost is to customize the product mix at the Pantaloons stores in accordance to the consumer behavior and preferences in any respective region. The organization maintains the value retailing and lives up the consumers expectations by passing on the benefits of the cost cutting measures to its consumers. Efficient and strong supply chain management: The supply chain management is a significant necessary component for a retail management system. The supply chain management in Pantaloon involves a number of activities including planning, standardization, merchandizing sourcing, logistics management, production, quality management, pilferage control replacement and replenishment. The supply chain management of Pantaloon offers a number of flexibilities to adapt to the behavioral changes in the consumers. The company has supply chain management which gains its strengths from in house manufacture facilities, design and development of the apparels.
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