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

Small Business Management - Case Study ExampleDuring their initial stages, the economic conditions were not very supportive for a start up, as the economy was going through a recessionary period thus, they could only manage to start off with $25,000 simply within first six months, they were able to launch their first anti- virus program. This was a major success and also due to this, they could get funding from Korea Technology recognise Guarantee Fund for the amount of $33,500 and this had become their seed money. The anti virus market in Korea grew from 4 billion in 1998, to 26 billion in 2002, and the fast(a) grew with it. Of late, the unanimous has broaden its product line by adding in data recovery with announcement of DataMedic Solution.Problems and challenges are a part of routine business activities just now analyzing them is the only source that leads to an appropriate solution with long term viability. This section utilizes some tools and techniques for analyzing the problems, so that appropriate solutions can be proposedSWOT is one of the astray used tools for analyzing the familiar (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 analysis of the watertight based on the learning from various sources1. StrengthsThe firm has great potential in terms of the question and development skillsThe initiators and the owners are five professional programmersSince the owners are directly involved in the work, it gives the firm a cutting edge over the competitorsThe learning skid is a quicker one since the ownership belongs to professionals rather than the businessmenMost of the anti-viruses developed are primarily windows based, and windows being a widely used direct system is definitely an advantageFinancial stability is another important strength for the firm2. WeaknessesOne of the major weaknesses of the firm is its weak brand kitchen stove 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 can 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 loyalty 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 any iodine firmIncreasing competition is another major influence particularly with competition coming from foreign productsThe life cycle of t hese products has reduced drastically and of necessity regular updates and newer versionsThe market is rapidly moving towards maturity which means that firms need to be innovative and proactive in terms of launching the latest