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Environment scan is a very critical step in defining the success of the strategic plan to
meet the growth objective of the organization or the mission statements.
Let us start with the Internal environmental scan.
Strengths:
One of the major strengths of Kudler Fine foods is its product mix. The organization
offers high quality fine foods and gourmet offerings to its customers. The quality and
freshness and fineness of its products are the important reasons, which have earned the
company a strong reputation in its area of existence. Due to this only, the company has
been able to charge a premium pricing for its upscale, high quality and fresh specialty
foods, still being retaining its satisfied customers.
Weakness:
One of the big weaknesses of Kudler is its limited presence of operations. The company
is not a nationwide retailer and it’s limited to a particular area geographically. So, the
company does not possess any huge resources as compared to larger nationwide chains
and thus, finds it difficult to compete against far more powerful players, especially across
a wide geographical area.
Opportunities:
Various great opportunities exist in front of the company to leverage and take benefit on
its strong brand reputation and high quality product offerings to expand beyond the local
territories into newer regions. The company can appeal to its customers about their great
quality of products and service and can build loyal customers which will be happy to pay
the price for being satisfied. High quality product offerings, brand reputation, customer
feedback and reviews and promotion will help it to expand into newer territories and
product groups and achieve success in those regions too.
Threats:
Significant threats do exist from far more powerful nationwide food chains, as well as
other moderate to small but promising local players. Further, threats exist pertaining to
changes in consumer tastes and preferences as well as government policies, sometimes.
To conduct an external environmental scan, we need to for the foremost, look at the
competitive scenario in the industry kudler foods relates to.
Competition is very intense in the retail food industry. BUT, Kudler being a specialty
foods provider in upscale areas, faces limited competition as it is into a niche of specialty
foods. However, competition would still be there with nationwide food chains as well as
regional and local players.
Kudler will constantly need to manage stiff competition from smaller, medium sized as
well as larger retail food chains in order to sustain growth and profitability in future,
inspite of the fact that it has experienced fast growth in the last few years.
Government policies pertaining to interest rates and other fiscal and monetary policies
have always and will also affect the growth and expansion plans for Kudler. The
government's effort to stimulate the economy via rate cuts to boost investments will
encourage Kudler to expand at a rapid pace, however, kudler needs to weigh all
investments cautiously in these tough economic conditions.
Also, as the company tries to grow and expand its size further into more locations, it will
not only need to capitalize on its key strengths, but also overcome major weaknesses and
threats.
Further, Kudler will need to critically think on reducing operating costs and costs to
survive in today's extremely competitive and recessionary times.
Further, Kudler will constantly need to invest in research & development, marketing
research and innovation. Marketing research identifies the real zone of potential
customers .These will ensure that it continues to offer the highest quality specialty foods
at reasonable prices to its customers. The customer satisfaction here is the ultimate aim.