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Autor: anton • November 15, 2010 • 585 Words (3 Pages) • 662 Views
2.2.2 COMPANY WEAKNESSES AND RESOURCE DEFICIENCIES
In comparison to the competing market, Ferris' company has long been plagued by control deficiencies and weaknesses in our system of internal control. There were gaps in existing documentation and some control deficiencies, but, because our previous strategic plan was weak and the management team lacked clear directives, our company will have to remediate the deficiencies and retest the controls. The overall unit costs in relations to key competitors were higher. In addition to that key area, it was also noticed that our bond rating was poor as well as a weak balance sheet. According to the Capsim's balance sheet survey, Ferris' company net assets are tremendously low as compared to the other competitors.
Based upon a scale of 1-10 of Ferris' overall business situation with extremely weak being a 1 and exceptionally strong being a 10, our company would at this point rate a 5.
2.2.3 COMPANY MARKET OPPORTUNITIES
As an identifiable electronic sensor company, our primary goal is to influence the public about our company by focusing on the opportunities for rapid, global communications and dissemination of information offered by the Internet. By creatively embedding the Internet into our products and business processes, our sensor company can gain access to an enhanced, value-added distribution system, have greater control over pricing and product development strategies, cost-effectively market our products directly to a broader customer base, and be better positioned to attract investment capital. It is vital for Ferris Company to develop an Internet strategy in order to add value for our customers and this method will also maximize our opportunities for growth.
Also, with embedded Internet sensor products, Ferris' company can efficiently market our products directly to the users,
To optimize our opportunities, our companies should focus on providing irresistible value for the customer. A sensor company's prospects can also be enhanced by partnering with related companies that have similar or complementary product lines and by developing its own marketing channel.
Connecting to the Internet is not as straightforward as it used to be. While the traditional