Small Business Management Case Study Example | Topics and Well Written Essays - 1500 words

Small Business Management - consequence Study ExampleDuring their initial stages, the economic conditions were not in truth supportive for a start up, as the economy was going through a recessionary period thus, they could only manage to start clear up with $25,000 but within first six months, they were able to launch their first anti-virus program. This was a major conquest and also due to this, they could get funding from Korea Technology Credit Guarantee Fund for the amount of $33,500 and this had become their ejaculate m wholenessnessy. The anti virus market in Korea grew from 4 billion in 1998, to 26 billion in 2002, and the menage grew with it. Of late, the inviolable has broaden its product line by adding in data recovery with annunciation of DataMedic Solution.Problems and challenges are a part of routine business activities but analyzing them is the only source that leads to an appropriate firmness of purpose with long term viability. This section utilizes some tools a nd techniques for analyzing the problems, so that appropriate solutions stub be proposedSWOT is one of the widely apply tools for analyzing the internal (strengths and weaknesses) and external (opportunities and threats) factors prevailing in the industry under consideration. Thus, SWOT is very helpful in determining the environmental situation, matching the internal and external variables. Following is the SWOT analytic thinking of the firm based on the learning from various sources1. StrengthsThe firm has great potential in legal injury of the research and development skillsThe initiators and the owners are vanadium professional programmersSince the owners are directly involved in the work, it gives the firm a cutting edge over the competitorsThe learning curve is a quicker one since the self-possession belongs to professionals rather than the businessmenMost of the anti-viruses developed are primarily windows based, and windows being a widely used operating system is defini tely an advantageFinancial stability is another important strength for the firm2. WeaknessesOne of the major weaknesses of the firm is its weak brand ensure since it lacks professional marketers, it hasnt been able to develop its image as suchThe firm has a fairly narrow and focused product line, and customers prefer one window solution for all problemsThe recently done diversification was also unrelated (data recovery solutions)It mint be seen that there is lack of vision about where the firm wants to be in the next five or ten years3. OpportunitiesThe growing market of anti viruses is a big time opportunity for the firmReduced customer homage is also an opportunity because with customers switching all the time, the firm can easily hunt for the share of the pie of other anti virus software makers4. ThreatsReduced customer loyalty is a threat in itself as well as customers are not loyal to every single firmIncreasing competition is another major influence particularly with compe tition access from foreign productsThe life cycle of these products has reduced drastically and needs regular updates and newer versionsThe market is rapidly touching towards maturity which means that firms need to be innovative and proactive in terms of launching the current