RadioShack SWOT Analysis For Management

RadioShack SWOT Analysis For Management

Length: 1758 words (5 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
Throughout my college career, I have been involved in a wide variety of organizations and internships that not only refined my business skills, but also provided me the realistic experience in the business realm. I have experienced a wide-range of activities and work that span from selling automobile parts to providing services to patients recovering from substance abuse and mental illness. Throughout this journey, I was given an opportunity to not only develop my business marketing skills, but allowed a glimpse of the industry (and the systematic process of that particular field) as well. One particular occupation that sticks out is the sales position at RadioShack. During my freshman year in college, I began working at RadioShack to obtain a relatively stable cash-flow (enough to keep me going for a whole year). During my stay at RadioShack, I quickly learned the proper methods of interacting with customers, selling products and keeping updated on new electronic technologies. Futhermore- working at RadioShack allowed me to gain a deeper insight in the electronic retail industry and the business process in which RadioShack conducts. By applying the SWOT Analysis, I can gain an overall view of different attributes that RadioShack excels in as well as the attributes that delay the company in achieving their objectives. The SWOT analysis will also display Radioshack's ability to compete with competitors as well as the ability to survive in the electronic retail industry.
The SWOT analysis is a method used to evaluate the attributes (of a particular company) that will support the firm's effort in achieving their goals as well as the attributes that will weaken the company.

How to Cite this Page

MLA Citation:
"RadioShack SWOT Analysis For Management." 123HelpMe.com. 19 Feb 2020
    <https://www.123helpme.com/view.asp?id=167568>.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay about Swot Analysis : Strategic Management

- Similar to the SWOT analysis is the PESTLE analysis which allows for a more comprehensive study of the external elements affecting a business. Before any new strategy is developed a PESTLE analysis should always be performed. This technique focuses on the political, economic, social, technological, legal and environmental factors that may threaten to affect a business. It is a very useful concept that is used as a tool by organisations to assess the environment they are operating in or hoping to operate in as it gives a over arching view of the environment as a whole from many different perspectives....   [tags: Strategic management, Management, SWOT analysis]

Research Papers
883 words (2.5 pages)

Swot Analysis : A Swot Essay

- By assessing each strength, weakness, opportunity and threat an organisation is able to make an informed decision about whether a change to the business would result in a competitive gain or not. SWOT is advantageous in the way that it promotes good teamwork, defines focus and scope, verifies the facts and provides information to allow further analysis for a well informed decision to be made. Before a SWOT analysis is initiated relevant facts and information will need to be researched to enable accurate information to be provided to the group....   [tags: Strategic management, Management, SWOT analysis]

Research Papers
1090 words (3.1 pages)

Essay on Swot Analysis : A Swot

- SWOT analysis is a tool that can provide prompts to the managers, clinical leads, nurse tutors, nurse mentors and staff involved in the analysis of what is effective and less effective in clinical systems and procedures, in preparation for a plan of some form, which could be an audit, assessments, quality checks and among others. In fact, a SWOT can be used for any planning or analysis activity which could impact future finance, planning and management decisions. It can enable the organization or an individual to carry out a more comprehensive analysis....   [tags: SWOT analysis, Management, Nurse, Nursing]

Research Papers
765 words (2.2 pages)

Swot Analysis : A Swot Essay

- A SWOT analysis is a tool that identifies internal and external factors that may affect an organization. According to Parnell (2014), a SWOT analysis allows managers to investigate the strengths, weaknesses, opportunities, and threats that a company may face in their environment. Strengths and weaknesses are typically internal factors; while opportunities and threats are external factors. A company’s strengths are the things that set them apart and make them different or better than anyone else in their industry....   [tags: Strategic management, SWOT analysis, Management]

Research Papers
753 words (2.2 pages)

Swot Analysis : The Problem Solver Essay example

- SWOT ANALYSIS Strengths • Problem Solver: I have a passion for finding solutions to problems and often dig much deeper than the average person to analyze the very depth of the issue. Afterwards, I thrive off of formulating a report to let the relevant persons know of my findings and also to propose possible solutions to the discovered problem. For instance, I once realized and individual was engaging in fraudulent acts merely by analyzing signatures. As I became suspicious, I decided to pull random samples of the individual’s submission....   [tags: Management, SWOT analysis]

Research Papers
966 words (2.8 pages)

Essay on Swot Analysis : Strategic Planning

- Introduction Companies put in place corporate strategies in order to expand their current business line, to remain competitive or ahead of the competition and most importantly to fulfill their mission statement. According to Bird & Smith (2015), strategic planning clarifies the organization’s purpose, and determines the future. Therefore, identifying the organization’s strengths and weaknesses is an integral step in this process. As will be discussed further, these strengths and weaknesses will be identified through a SWOT analysis....   [tags: Strategic management, Management, SWOT analysis]

Research Papers
1361 words (3.9 pages)

Essay on Swot Analysis Of Ceo And Founder

- SWOT Analysis Strengths, ascension worldwide has many strengths. The greatest strength that this company has is it staff. The CEO and founder is a certified social plus emotional intelligence coach, a certified Keirsey temperament professional. He has published three personal development books and an audio program. He is a national speaker and has been featured on national radio shows, local television shows and international radio shows. The CEO also works on developing personal goals that stretch him to achieve higher levels of success every year....   [tags: Strategic management, Strategy, SWOT analysis]

Research Papers
2071 words (5.9 pages)

Essay on The Swot Analysis For Centurylink

- CenturyLink is one of the larger communications companies within the United States and has even expanded abroad to other countries. When analyzing the SWOT analysis for CenturyLink, I was able to identify several strengths that set them apart from their competitors. As mentioned, they are distributing services in over 20 states currently and continue to broaden services to reach more clientele. They pride themselves on exceling in data communications and network systems databases which has allowed them to become one of the desired communication companies....   [tags: SWOT analysis, Marketing, Technology, Management]

Research Papers
740 words (2.1 pages)

Essay on Coca-Cola SWOT Analysis

- Coca-Cola SWOT Analysis SWOT stands for Strengths Weakness Opportunities Threats. SWOT analysis is a technique much used in many general management as well as marketing scenarios. SWOT consists of examining the current activities of the organisation- its Strengths and Weakness- and then using this and external research data to set out the Opportunities and Threats that exist. Strengths: Coca-Cola has been a complex part of world culture for a very long time. The product's image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart....   [tags: Business Management swot Analysis]

Free Essays
1090 words (3.1 pages)

S.W.O.T. Analysis of Boeing Corp. Essay

- The objective of this paper is to analyze and discuss some of the Boeing Company's business decisions using their strengths, weaknesses, opportunities and threats, also known as an S.W.O.T. analysis which is defined as, "a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats. (Nickels, McHugh, McHugh, page 216)". This is a very powerful tool usable by any business that is just starting out, going through a change in direction, or in the process of a major merger....   [tags: SWOT Analysis]

Research Papers
1874 words (5.4 pages)

Wikipedia.com (change to different source) further explains the idea of the SWOT Analysis and its application in the planning process:
It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. Strengths: attributes of the organization that are helpful to achieving the objective. Weaknesses: attributes of the organization that are harmful to achieving the objective. Opportunities: external conditions that are helpful to achieving the objective. Threats: external conditions that are harmful to achieving the objective. Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs…Internal factors – The strengths and weaknesses internal to the organization…External factors – The opportunities and threats presented by the external environment. The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organization's objectives. The external factors may include macroeconomic matters, technological change, legislation, and socio-cultural changes, as well as changes in the marketplace or competitive position (1)
The SWOT analysis provides a deeper insight to the strengths and weaknesses (internal and external factors) of a particular company. The SWOT analysis is ,… talk more about it.
Radioshack was started in 1921 in Boston, Massachusetts by Theodore and Milton Deutschmann. The company was originally established to provide amateur radio, but it later expanded into the high-fidelity music market and began selling its own private-label products before going bankrupt in the 1960s (Wikipedia.com, 1). Charles Tandy bought the company and transformed it into a leather goods corporation before experimenting in selling personal computers. A few years after, RadioShack began heavily marketing (and selling) their star product- the short-range walkie-talkie system. Wikipedia.com further explains RadioShack's transformation:
Since the mid-1990s, the company has attempted to move into the consumer small components markets, focusing on marketing wireless phones. In 1993, Len Roberts became president of Radio Shack. The move came as a radical career departure for Roberts, who spent more than 20 years in the food industry, beginning with Ralston-Purina, where he served in various management and marketing positions. In early summer 1995, it was elected that the name "Radio Shack" would be spelled in CamelCase as "RadioShack", and a new logo would be launched (2)
During this radical transformation, RadioShack began solidifying their position in the electronic goods market. Currently, RadioShack has more than 6,000 stores operating all over the world which include Europe, Central America and Africa. RadioShack generates $2.24 billion in operating revenues and net sales. They also carry a wide variety of electronic products that range from audio and video equipment to cell phones (Wikipedia.com, 1). The SWOT analysis can be used to not only evaluate RadioShack's current attributes, but also assess the factors that can support or impair RadioShack's survivability.
Strength
Radioshack has been in the electronic goods market for over 30 years providing quality service and fulfilling the consumer's desire for new and dependable technology. The image that RadioShack has developed and carefully processed has greatly served RadioShack's efforts. When consumers want or need any type of electronic accessory such as rechargeable batteries, consumers know that these items can be found at a nearby Radioshack. Due to the strong brand name and image that RadioShack has developed, consumers know that they will be purchasing high quality and dependable products.
Another attribute that strengthens RadioShack's position in the electronic market is their marketing and advertising. RadioShack works with a number of celebrities to advertise their products which is easily seen in RadioShack's television commercials. Furthermore- RadioShack sponsors a variety of different organizations and events such as the Rock and Roll Hall of Fame and Museum (bnet.com, 1). These marketing and advertising tactics not only expose the RadioShack name to the general public, but consumers develop a positive perception of RadioShack's products as well.
Training employees is a crucial process for any establishment and an efficient procedure is needed to decrease the amount of time needed for training; while at the same time- maximizing the learning process. At RadioShack, new employees must train for approximately three weeks before working the sales floor. During this period, employees need to read and watch videos of new technology in the market and how each of these technology work. An example of this is Wi-Fi and employees must learn the different frequencies of Wi-Fi and how the wavelengths travel from the source to equipment. Not only do new employees need to read on these technologies, but a quiz is administered at the end of each segment. But the quizzes and readings do not stop here, since the market is constantly coming out with new technology- all RadioShack employees must constantly update their knowledge base in-order to provide adequate service for their customers.
Once training has been completed, the new employee begins working on the sales floor. RadioShack's star product is the cell phone and cell phone accessories so selling these items is heavily emphasized. It is so emphasized that each RadioShack outlet must meet a certain quota (each month) of phones and accessories sold. In addition, each member of each store must also meet a particular quota. I was assigned to sell at least three cell phones each week for the RadioShack store that I was located at. But all this hard work come great rewards with bonuses and other benefits to the top three sellers in each district. The strict training and quota helps RadioShack produce the sales figure that is needed and ensures that every employee will be prepared and knowledgeable in and out of work.
RadioShack has many stores located all throughout the world especially in the United States. Consumers can rest assure that a RadioShack is just around the corner if any electronic problem arises or if a particular electronic product is needed. RadioShack uses the easily identifiable RadioShack logo on each store to promote awareness. The large number of stores greatly strengthens RadioShack's position in the electronic market because this not only welcomes new consumers (by diverting their direction away from RadioShack's immediate competitors), but increases brand loyalty as well.
The different attributes show how each process contributes in strengthening RadioShack's grip on the electronic goods industry. These attributes will not only provide leverage over their competitors, but will also ensure long-term growth. Furthermore- these traits will greatly supply RadioShack the necessary resources, skills and experience to achieve their overall goals.

Weakness
Every business has its own weakness that has the potential to drag that particular business down to the pits. These weaknesses may not shut a business down, but it will undoubtedly hurt the business in fulfilling their objectives. RadioShack has a number of weaknesses that must be identified and assessed in-order for RadioShack to prosper and avoid being ruined. One of RadioShack's weakness is the size of their stores. Many, if not all of RadioShack stores are small compared to their competitors like Circuit City. These small stores will not only hold less inventory compared to competitors, but also the amount of time customers spend in these small stores are a lot less than the larger, more spacious stores of Circuit City. Customers tend to browse a lot longer in larger stores and the longer the customers stay in the store, the better. Many RadioShack stores are located inside shopping malls and these stores are usually smaller than a typical free-standing RadioShack store. Due to the larger stores of RadioShack's competitors, there is a decrease in profits.
Another weakness that RadioShack faces is their poor performance in wireless sales. In this day and age, wireless technology is everywhere. Wireless technology is available in all electronic goods store and it is easily accessible. Many electronic goods stores are partnered with cell phone companies to work hand-in-hand to help each other expand and gain more market share. Currently, RadioShack is partnered with the cell phone company Sprint, but this collaboration may soon come to a halt. Forbes.com gives further insight to RadioShack's weak attribute:
Standard & Poor's Equity Research reiterated a "buy" rating on Sprint but said shares of the telecommunications company may weaken on news that RadioShack won't meet the first-quarter earnings forecast due to weak wireless sales in stores. "Since RadioShack is a large agent for Sprint, we believe Sprint's direct net subscriber adds for the first quarter may be at risk," S&P Equity Research said. "Nonetheless, Sprint has broadened its wireless business by offering its network to Virgin Mobile and Qwest Communications International (RadioShack Wireless Weakness May Hurt Sprint, 1)
RadioShack's poor performance in wireless sales does not only decrease their profits, but puts their partners at risk as well. When collaborating with another business, both parties are required to meet certain expectations. RadioShack must fulfill their sales goal in-order to promote long-term growth and maintain a healthy relationship with their partners.
Return to 123HelpMe.com