Analysis Report of Cango

Analysis musical theme of CanGo Veronica Perla BSN460ON Senior Project Dr. John Martin folk 7, 2009 Overview CanGo is an meshwork startup confederation that retails an kindle array of products and renovations, ranging from books and videos to online looseness, and prides itself on providing the best customer service in terms of product deli rattling and support. The societys weave site is fun and easy to use employing the latest technology in Web site development, product innovation, and services is how CanGo strives to provide their customers with the close exciting entertainment.The majority of CanGos customers argon the Gen-Xers and the Gen-Yers, who enjoy the latest in online gaming and entertainment. Under age, consumers (under 18 years of age) are serviced responsibly by requiring braggy permission for online purchases. CanGo strongly values its employees and customers. The high society best serves its employees by involving them in decision-making, module brisk ness, and development. CanGo believes that keeping their employees motivated and working at their full latent difference fucking translate into the best customer service possible. in that respect is a growing trend that CanGo has identified within the gaming industry that result be utilized to bring the ac familiarity added conquest. This growing trend is online gaming. CanGo wants to twist a contributeer of the online gamming market. The hope of the company is to become a transact success reputation some(prenominal)(prenominal) as an online retailer and online gaming service. The company has recently been called a success story by the Hudson Valley crinkle enterprise Association. The CEO of CanGo, Elizabeth bennet, has been named the Regions Business Leader of the year.Potential entrepreneurs want to know how and why CanGo became a success story. This leads to the strengths, weaknesses, opportunities and threats that this Internet Company has and faces in its entrepr eneurial endeavors. S. W. O. T Analysis The information used to develop this analysis was tell apartn from the opthalmic analysis performed on recorded episodes depicting staff interaction and company dynamics. The observations volition be separated into internal (Strengths and Weaknesses) and external (Opportunities and Threats) issues. Strengths CanGo has demonstrated a few strengths in these preliminary episodes.Elizabeth Bennet, CEO of CanGo, is the companys greatest strength. Her quite a little of knowing what consumers want and how to get it to them at a get down cost is what has made CanGo a success story in Hudson Valley. This indignation is carried through to the staff and is demonstrated by Andrews eagerness to take on the emfly lucrative market of online gaming. The CanGo staff is an some other un assureable of the companys strengths. Each staff part brings an additional choice to the company that can be utilized to improve productivity and development.For insta nce, Debbie has organisational skills and a teaching background that can be utilized for training purposes. Training and development are strengths that successful companies posses. Utilizing the skills that each staff genus Phallus brings can serve well CanGo become a bigger success story across the country and not just in Hudson Valley. These strengths excessively lead to CanGos weaknesses as a company. Weaknesses These preliminary episodes also showed many of CanGos weaknesses. The most apparent weakness would be the lack of a vision statement, mission statement and strategical intention.These weaknesses were made apparent by Elizabeth Bennets frustration with the writing of the speech she was to give at the put up of Commerce meeting. She states that her success was pure luck and that all she did was begin a advanced worry venture. A strategic plan is measurable to a successful company because it guides and focuses all staff members to special goals and establishes a t raverse of action to achieve them. Strategic planning also serves as a way to en veritable that all departments within the organization share a common goal.Another important component to a successful business is the vision and mission statements. Vision statements are written for the organization and its employees. They are comprised of the dreams and inspirations of the organization and where it is thinkered. This statement also serves as the framework for the organizations strategic plan. Mission statements are a representation of the organizations purpose for existing. It should be derived from the vision statement and used as a guide when producing a strategic plan.These three articles would have helped Elizabeth write the house of Commerce speech by providing her with the foundation obligatory to provide the potential entrepreneurs attending this meeting the how and why of CanGos success. There are a few other internal issues that plague CanGo and whitethorn impede its succe ss if not addressed. The lack of project slaying procedures, organizational skills, management mesh and skepticism can lead to poor performance, failed projects, and miscommunication. Implementing a project plan can help keep staff members on course and blast areas that whitethorn indispensableness special attention.This plan also helps take form sure that projects follow specific paths to guarantee timely results. Utilizing the resources that staff members bring to the company will ensure that everyone has the skills necessary to accomplish their objectives. For instance, Debbie Haynes was previously a instructor at the Drake School of Business she possesses great organizational and teaching skills that can be utilized by CanGo to further develop the staff. Debbie can head a training seminar on the importance of organizing, prioritizing and scheduling impending projects development Gantt charts.These types of resources are abundant within any organization all that is mandato ry is to identify what kind of skill each particular staff member brings to the organization. The last major weakness is the lack of management involvement in the course of a project. This is made evident when Warren handed break away the task of creating an implementation report for online gaming. Nick was left to practice it come to the fore on his own. Management should be involved in the planning and implementation of any project. For instance, CanGo could implement procedures like research deadlines, preliminary draft scratch off requirements and senior staff team eetings to discuss the progress of the project. This will eliminate the fortuity for poor and costly errors. CanGo has the fortune to take these weaknesses into friendliness and make some changes that will improve the organization as a whole. This kind of improvement will prepare it to achieve external opportunities and lease with external threats as well. Opportunities CanGo not only has strengths and weaknes ses but also opportunities. These potential opportunities are for company outgrowth, maturationd capital, new market ventures, and expansion into other areas of e-commerce.There is a great opportunity for company growth both in regards to join on workforce and possible mergers with other startup Internet companies. As CanGo reaches higher sales volume it will be necessary to incorporate an automated storage and retrieval system. With the impending five-hundred percent emergence in sales this coming holiday season CanGo needs to make certain that their order fulfillment and processing center is equipped to accost this possible increase. Every company is looking for a way to increase its capital.CanGo has been preparing to go public which will increase its capital base. This kind of opportunity can also become a weakness due to the changefulness of the stock market. However, if CanGo can successfully handle its five-hundred percent sales increase during the holiday season, this opportunity can prove to be a very lucrative venture. CanGos greatest opportunity is to branch out into new markets. E-commerce is a very broad market that has plenty of opportunities for organizations such as CanGo. The CanGo team whitethorn decide to expand and include other items to their angle of inventory.Elizabeth Bennets dream was to help consumers shop and find what they need easier and at a lower price. If she sticks to this philosophy she whitethorn take CanGo in the direction of Amazon. com or Overstock. com. The sky is the limit for these kinds of opportunities. New market ventures may be a great lucrative opportunity but it may also bring with it threats. Threats The CanGo organization faces a couple of threats like the first step of failure, loss of capital, and takeovers. Failure is eminent for any organization but it is oddly eminent for CanGo.The lack of a vision, mission statement and a strategic plan can lead to failure. Vision and mission statements are impor tant for any organization because they not only provide a unresolved view of what the organizations goals and intentions are but they also help give the staff a standard that should be met and maintained. Implementing a strategic plan is a vital part of any successful business and has been proved to help carry a business through inflexible economic climates. Loss of capital is also a viable threat. This may be caused by lawsuits, manufacturer or vendor bankruptcies and low sales. care capital secure is sometimes a bit difficult to do. This may be accomplished by purchasing liability insurance and using a variety of manufacturers and vendors. Low sales are often at once linked to the economic forecast. This is sometimes hard to prepare for and should be discovered by the accounting and finance department to ensure that the inventory purchased match the possible sales and future market forecast. Takeovers of successful companies are also threats that need to be watched for. CanGo s success as a small(a) Internet e-commerce company may make it a very tantalising company to purchase.Competitors like Amazon. com and Overstock. com may feel that CanGos success is a force that needs to be control before it becomes an e-commerce giant that may affect their sales margins. The easiest way to obtain this company would be by force which is why takeovers are a legitimate threat to CanGo. Recommendations CanGos greatest asset and strength is CEO, Bennets vision and heat for this company. Elizabeth Bennet is the only one who has a clear picture of what the company is about, what its intent in the market is and how to achieve it.There needs to be a vision statement and a mission statement prepared to let the entire company in on Elizabeths vision. in one case these statements are in place and all of the CanGo staff has had a chance to look them over and jump on board, the executive team should convoke to prepare a strategic plan based on both the vision and mission sta tements previously prepared. This strategic plan should include specific goals for the company to attain within the next five to ten years. This is the most important recommendation that can be offered at this particular time.There is another not so eminent recommendation that is being offered at this time. This is in regards to the utilization of staff resources. CanGo has a diverse quality of good deal with different academic backgrounds and skill sets. Utilizing these specific traits can enrich the company as a whole. As mentioned earlier utilizing Debbie Hayness teaching security and organizational skills to train the staff on the importance of Gantt Charts and prioritizing tasks for impending projects may help save time, otherwise spent on trying to figure out where to begin and what needs to be accomplished first.This would help the staff members reach deadlines and complete projects without the added stress of disorganization. These recommendations are meant to promote comp any growth and development. These two elements are necessary for a successful company to last out a success in their particular market. References Archives Why a Strategic Plan is Important? (2006) Online Business Advisor. Retrieved September 9, 2009, form http//www. onlinebusadv. com/? rogue=171 Business Resource Software Mission Statement. (n. d. ) Center for Business Planning.Retrieved September 9, 2009, from http//www. businessplans. org/mission. html CanGo Intranet Company Information. (n. d. ) Mastering Business. Retrieved September 4, 2009, from http//myphlip2. pearsoncmg. com/masteringbusiness/cango/companyinfo. html Definition prink Analysis. (n. d. ) Answers. com. Retrieved September 9, 2009, from http//www. answers. com/topic/swot-analysis Definition Vision Statement. (n. d. ) About. com. Retrieved September 9, 2009, from http//sbinfocanada. about. com/od/businessplanning/g/visionstatement. htm