SWOT Analysis of Owens Corning
Here is detailed SWOT Analysis of Owens Corning manufacturing companies. This SWOT analysis covers strengths, weaknesses, opportunities and threats of Owens Corning.
Owens Corning Corporation is the largest manufacturing company of fiberglass and related products. It was invented in 1935 as a joint venture between two major American glassworks, Corning Glass Works and Owens-Illinois. The company was come out as a separate unit on November 1, 1938. Ever since that time, Owens Corning has led every major technological advance in glass fiber technology. Nearly countless following innovations have seen Owens Corning grow to a position of world leadership in glass manufacture . . . and radically change the way people live, work and play. The Company deals in two sections: Combination, which includes its strengthening and downstream businesses, and Building Materials, which includes its lagging and roofing businesses.
• Their company has highly research and developed centers for the customers care.
• Their cost is really reliable to the client which is an advantage to them.
• Owens Corning products are very unique. They are environment friendly and made from recycled products like glass and sand.
• Due to their increase in their online growth they have secured a safe and rigid position n the market.
• Company manages their reputation issues very easily which has now become their strength.
• Their market share leadership is very strong.
• Due to the rapid increase in their income after the 2nd World War, their financial condition is very strong.
• They faced bankruptcy in 2000, due to the use of asbestos as a fireproofing negotiator by the company and lead to the company’s Chapter 11 bankruptcy in 2000. The company comes out from Chapter 11 in October 2006.
• Due to the bankruptcy case, they lost their financial share and had an Over control financial position.
• Company is not so strong in supplying chain network which is the biggest weakness.
• Their way of communication is another great factor that led to their weakness among their clients.
• Due to the loss in their income they are having low market share as compare to the past years.
• By rising their markets and taking their business to an International level will be another great success in their business to take it to the next level.
• By start dealing with their customers and investors online will lead to an International standard company. So that the clients can set a deal with them just by sitting in their homes.
• Expansion in their products and services will help them gain more profit and increase in their customers globally.
• As more companies of same business are coming in the market, the competition is getting hard.
• If in any case they bring out any cheap product in the market they may lose some customers in the market.
• Due to the off and on slowdown in the economic market, they might face some financial problems in future.
New York Times, (2012), Website: http://topics.nytimes.com/topics/news/business/companies/owens-corning/index.html Retrieved: 12th Nov, 2012
Yahoo Finance, Owens Corning, (2012), Website: http://finance.yahoo.com/q?s=OC Retrieved: 12th Nov, 2012
Owens Corning, Official Website, (2012):http://www.owenscorning.com/ Retrieved: 12th Nov, 2012