RadioShack SWOT Analysis
A public Limited Company, RadioShack is currently headquartered in Fort Worth, Texas, US. The nature of the business is franchising and deals with electronic and cellular appliances. It was founded in 1921 and stands out to be one of the most renowned companies in its industry, with over 7150 locations across the globe. The size of the company can be determined by the amount of its revenue, which was $4.473 Billion in 2010 and an employee workforce of 36400 people. The company had also undergone a partnership with T-Mobile, for a precise period of around 2 years, which formally ended in 2009. A brief summary of the strengths and weaknesses of the company is given in the upcoming paragraphs.
As already stated, RadioShack is known to have over 7150 outlets in different places around the world. This clause makes it quite plain that it has a very wide, efficiently organized and highly effective network of outlets. This makes it able to bring most of the area under its coverage, thus building a strong customer base.
It has a very wide portfolio of the products it sells. So far, the products prominently highlighted in the outlets of RadioShack include adapters, telephones, and Antenna craft, LCD TVs, speakers, iPod accessories, camera accessories and wireless phone accessories. Being dependant on multiple objects means that the company will have to face no threat if one or two of its products fail to survive in the future. Besides, it also has a strong financial position, which will support it in case it tends to fall.
The company also failed to establish an online presence for a long time since its inception. With the technically advancing age, the world is virtually moving towards the internet and is highly dependant on it. No online presence can be a serious threat to the business. Although the company has realized this error and tends to work on it, there is no such assurance, because the people have already perceived an image of the company.
Obviously, the first and foremost opportunity that stays ahead is working on the online presence of the company. Secondly, it can shift its stance from a predominantly cellular and electronic appliance selling company towards the sales of more wireless accessories, which will obviously benefit in a country like US.
Besides selling accessories, it cans also diversify itself in to refurbishment business. The work will not merely change its field; instead, it will enrich the opportunities for the business.
The only threats to the company as earlier hinted are from its competitors and counterfeited accessories. If these problems are resolved by the company, it could surely prosper.
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