Case Study of Ventura Boats-Free-Samples for Students-Myassignment

Question: Discuss about the Case Study of Ventura Boats. Answer: Introduction Ventura Boats, founded in the year 1961, is a family owned business involved in the manufacture of traditional hand-made boats. The turnover of the business had been faring well until the recent times. The major clients of the company belonged to the domestic market of Australia, which has been experiencing a shrinkage in the recent times (Ventura-boats.com 2018). The following report attempts an analysis of the strengths, weaknesses, the opportunities and the threats that the company might be facing. The report proceeds to analyze the threats and the opportunities that have been identified in the SWOT analysis. The report proceeds towards the conclusion by providing some alternate strategies that might be adopted by the company in the future days to come on the basis of the analysis done with the help of the Ansoff Matrix. SWOT Analysis Strengths The staff of the company is known to be highly experienced and to be industry-respected. The products that are built by the company tend to maintain the high quality that is promised to the customers of the company. The company is one of the market leaders in the category of the products that it provides to its customers. The financial reserves of the company are built on the huge prosperity of the business in the yester years and are thus very strong. Weaknesses Very low experience in the overseas markets. The technology that is used by Ventura Boats seems to be outdated. The company has failed to provide the concerned clientele with the new models for the boats and other water vessels. The low morale and the significant amount of attrition in the employee strength of the company. The company has failed to provide its clientele with the new models of boats for a long period of time. Opportunities There are lesser restrictions on the use of the traditional boats in the foreign market which might ensure the legalized condition of the products of the boat-building business organization. The growing economies that have been existing all over the world have led to the increase in the number of the clients who display a huge passion for the luxury products that are offered by the company. Threats The increase in the number of services that might provide the customers with the substitutes of the products that are offered by Ventura Boats. The Australian Government might declare the products manufactured by Ventura Boats to be illegal due to the outdated technology that they seem to be using in the manufacture of the boats and other vessels. The other competitors in the market are reported to have been on the look out to take over the companies like Ventura Boats in order to buy out their market shares. Threats and Opportunities Analysis The SWOT analysis of an organization helps to reveal the strengths, the weaknesses, the opportunities and the threats that might be encountered by the organization during its functioning in the industry (Bull et al. 2016). The opportunities of the company might refer to the elements operating in the environment that might be exploited by the company in order to gain an advantageous position in the concerned market (Yuan 2013). In the given case study, it is observed that the concerned company has scope of the expanding in the various overseas markets. This might lead to the prospering of the business in those markets leading to the expansion of the company in the concerned market. The legal conditions of the overseas market might allow the company to sell their products to the clients who have been based in the other countries. The expansion of the company might also help to attract the various customers who have been willing to spend their money in the luxury product that the compan y offers towards their clients. The threats that are faced by the company generally refer to the various operational elements in the market that might cause harmful effects in the company (Ayub et al. 2013). In the given case, the major threats that are faced by the company pertain to those that exist due to the entry of the substitutes that offer the concerned clientele with better versions of the products that are offered by Ventura Boats. This might lead to the deterioration in the revenue generation of the company (Grant 2016). The company also faces a huge threat owing to the changes in the legal system of Australia. The changes that have been made in the legal system of Australia might lead to the condition wherein the products that are manufactured by the company would be rendered illegal. The company also faces a threat due to the various other big companies that have been on the look out to take over the various smaller companies that have been operating within the industry. These mergers might result in t he demolition of the company which would therefore be rendered non-existent in the industry. Ansoff Matrix Fig. 1: Ansoff Matrix Source: Created by the Author Thus, from the above figure, it may be clearly pointed out that the company might fare well if they tend to bring in variations in the products that they manufacture. The company must ensure that the vessels that they manufacture are best suited to the needs of the concerned clientele. Recommendations The management of the Ventura Boats must focus on the expansion of the market that they serve. The company must focus majorly on the manufacture of the water vessels that are customized to the needs of the concerned client (Stanford et al. 2014). The company must aim to incorporate the use of machinery in the manufacturing process of the various water vessels in order to boost the sales of the company (Hribernik, Wuest and Thoben 2013). The company must also aim to bring about a variation in the sizes of the vessels that they manufacture in order to bring about an increase in the number of clients that they serve (Gudem et al. 2013). Conclusion In lieu of the above discussion it might be safely concluded that the concerned company, Ventura Boats must have to concentrate further on the development of the product and aim at the diversifications of the products that the company manufactures. The company must recruit the staff who have knowledge in the needed technologies in order to fare better in the concerned industry References Ayub, A., Adeel, R., Muhammad, S.A. and Hanan, I., 2013. 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