Question

Your task is to write a SWOT analysis of the following companies

• Wayfair

The analysis of Strengths, Weaknesses, Opportunities and Threats should include key elements of business that we have considered throughout the course such as:

• the entrepreneurs, the founder(s), the funding, the business idea
• turning ideas into reality
• financing, where does the money come from, what are the risks
• finding customers and retaining them, understanding the market
• the people dimension
• employees and how to reward them
• the global dimension; the global market and taking advantage of it
• the economic and market forces that the business operates within and that help to shape its strategy
• the mission and values of the company

Your task is not to provide brief descriptions of topics like the ones above. Rather, see them as a set of guidelines that will give some structure to your analysis.

Answer 1

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Wayfair Inc. is an American e-commerce company that sells furniture and home-goods. Formerly known as CSN Stores, the company was founded in 2002 .

Strengths-

Strength part of SWOT analysis tells us about what company has strong so Wayfair is a Global brand with more 11,0000 suppliers all around the globe. It sells millions of items at global level which generate billions of income to its business.The good Brand image of the company also a strong factor for its success.

The first time achievement in Fortune 500 list company increase its strength in 2019.Company has unique way to sell its products online in which company has 5 website main Wayfair site, Joss & Main^] AllModern, Birch Lane and Perigold .

Weakness-

The weakness part shows the weak areas which needs improvement with management actions. so Wayfair needs to manage its HR properly as it is the employer of thousands of employees like more than 14000 in 2019 .

Employee turnover is high for Wayfair which is a weakness and management of company has to improve it.they can not do that by motivating like bonuses, rewards and incentives etc.

The cost of managing five sites under one brand also a weakness like there are chances of security threats outside like hackers.

Inventory control needs to be effective every time otherwise it will increase business cost but it is controllable if management take effective control actions.

Opportunities-

Opportunity part of business is related to thing or opportunity which can help wayfair to grow its business. Wayfair currently in online business but it can expand business by opening physical retail stores like IKEA in cities.

Wayfair has opportunity to make strategic alliance with small level retail stores like Big Bazar, Kmart in India to enter into untapped market outside the country.

Threats-

Threat part show factors which can affect business in bad way so Wayfair has huge threat from competition as always like Walmart, Costco, Amazon, etc

The economic downturns, changing customer preferences, technological shift like technology used at Wayfair get outdated, Government policies like taxes etc can affect its business.