Mohammed Rasool Khoory & Sons Company

Mohammed Rasool Khoory & Sons Company

Mohammed Rasool Khoory & Sons Company

The organization’s mission statement, vision, goals and objectives and perform a brief analysis of them

Mohammed Rasool Khoory & Sons Company represents one of the leading organizations or retailers in the jewelries industry in the UAE. The organization has its location in Dubai thus the opportunity to address the needs and preferences of the consumers within the region and across the globe. The organization has the opportunity to narrate the story of the ancestors and predecessors with the aim of creating an effective connection between the past and the present. The organization has the ability to exploit the benefits of diversity of the production and manufacturing system thus the chance to increase the level of profits and revenues following annually examination of the financial strength. The vision, mission, and objective of the organization contributes towards the achievement of the financial stability (http://www.mrkhoory.com).

Perform a detailed SWOT analysis of the company:

The execution of SWOT analysis of the organization requires critical information in relation to the internal (competitive assets and liabilities) and external forces affecting the achievement of goals and objectives during the stated period. This is the extensive examination of the strengths, weaknesses, opportunities, and threats affecting the achievement of goals and objectives in the process of addressing the needs and preferences of the consumers (Griffin, 2012).

Identification of the organization external opportunities and threats

External opportunities and threats refer to the examination of the forces or factors that affect the growth and achievement of the standards but are beyond the control of the organization. in the process of executing its duties and distribution of services to the consumers, it is ideal to note that Mohammed Rasool Khoory & Sons Company faces several threats and opportunities thus the various in the achievement of the targets.

Opportunities

The organization has several opportunities to maximize towards the realization of the targets during the financial year. Some of the opportunities include

• The ability and capacity to acquire other business entities to contribute towards the achievement of the mission and objectives
• The opportunity for the organization to expand its contribution to the market thus development of other outlets to facilitate the distribution of the valuable products to the relevant market
• Maximization of the aspect of globalization thus the opportunity to increase the profits and revenues following business transactions beyond relevant boarders
• Exploitation of the free trade concept following the elimination of the trade barriers and minimization of the cost of international trade thus the opportunity to exploit the emerging markets across the globe
• Opportunity to maximize production levels following the effective penetration of the market by the products of the organization such as Rolex watches
• The opportunity to address the issues of different consumers through the development of attractive market segments thus the chance to increase the market share for the products of the company
• The opportunity to increase revenues because of no taxation system to reduce the net profit

Threats

Despite the existence of these opportunities to enable the organization meet its targets, it is ideal to note the presence of threats that might hinder the realization of the goals and objectives during the financial year. Some of the threats that might hinder the achievement of the goals include:

• Emergence of organizations manufacturing and distributing their products within the industry at lower prices thus initiating unhealthy competition
• Increase in the realization of trade barriers in the context of the global or international business transactions thus limiting the increment of the profits and revenues by the company
• The existence of prohibitory laws and regulations in other nations restricting the distribution of the products and services by Mohammed Rasool Khoory & Sons Company hence reducing the volume of transactions
• Development of substitute products and services by emerging companies thus affecting the competition levels within the market and industry
• Incapacitation of the employees through health conditions thus inflecting their performance in the process of achievement of targets

External factors analysis summary (EFAS)

External Factor	Weight	Rating	Weighted Score	Comments
Opportunities ü  Other business acquisition ü  Outlet expansion ü  Globalization ü  Free trade exploitation	0.15 0.20 0.05 0.10	3.0 5.0 4.0 2.8	0.45 1.0 0.2 0.28	Financial stability Increment in volume Vital for revenues International trade
Threats ü  Cheap products ü  Trade barriers ü  Prohibitory Regulation ü  Incapacitation of workers	0.05 0.25 0.10 0.10	4.2 2.0 3.0 2.0	0.21 0.50 0.3 0.2	Substitutes Trade regulations Customary laws Illness and diseases
Total Score	1.0		3.14

 

Identification of the internal strengths and weaknesses, including the financial analysis of the company

This involves analysis of the competitive assets and liabilities in relation to Mohammed Rasool Khoory & Sons Company (Böhm, 2009).

Strengths

The organization experiences numerous competitive assets facilitating the achievement of the goals and objectives. Some of the strengths include:

Some of the strengths include

• Economies of scale thus the ability to increase the volume of production while minimizing the cost of manufacturing and distribution of the products by the organization
• The increase in the volume of production and distribution through the adoption of other outlets to maximize the market penetration and audiences reach
• Effective strategic management through diversification of the products and services thus the chance to increase the profits and revenues
• Adoption and implementation of technology thus the automation of the activities and processes of the company
• Quality training of the employees to enhance their performance and contribution in addressing the needs and preferences of the consumers
• Differentiation of the products from the market thus the ability to withstand competition from other key players

Weaknesses

Some of the weaknesses experienced by the organization include:

• Lack of effective motivation of the employees
• Inadequate customer service base because of inefficient resources to attain the goals and mission of meeting the needs of the consumers
• Lack of transparency by some employees
• Implementation of ineffective strategies causing the organization to lose revenues or profits

Internal factors analysis summary (IFAS)

Internal Factors	Weight	Rating	Weighted Score	Comments
Strengths ü  Economies of scale ü  Quality management ü  Automation of processes ü  Product differentiation ü  Quality training	0.25 0.15 0.05 0.15 0.05	5.0 3.0 1.5 2.0 2.8	1.25 0.45 0.075 0.30 0.14	Plant maximization Essential for growth Technology application Quality products Personnel training
Weaknesses ü  Inadequate motivation ü  Ineffective customer service ü  Corruption ü  Ineffective strategies	0.15 0.05 0.05 0.1	4.2 3.6 2.6 3.0	0.63 0.18 0.13 0.3	Needs improvement Lack of resources Need for transparency Improper R&D allocation
Total	1.0		3.455

 

Generate strategic factors analysis summary (SFAS)

External and Internal Factors	Weight	Rating	Weighted Score	Short	Intermediate	Long	Comments
Strengths ü  Economies of scale ü  Quality management Weaknesses ü  Inadequate motivation ü  Ineffective customer service Opportunities ü  Other business acquisition ü  Outlet expansion Threats ü  Cheap products ü  Trade barriers	0.25 0.15   0.15   0.05   0.15   0.2   0.05 0.25	5.0 3.0   4.2   3.6   3.0   5.0   4.2 2.0	1.25 0.45   0.63   0.18   0.45   1.0   0.21 0.50	X	X     X           X     X	X       X   X	Plant maximization Essential for growth   Needs improvement   Lack of resources   Financial stability   Increment in volume   Substitutes Trade regulations

 

 

 

 

 

 

 

 

 

 

 

References

Böhm, A. (2009). The SWOT Analysis. München: GRIN Verlag.

Griffin, R. W. (2012). Fundamentals of management. Mason, OH: South-Western Cengage Learning.

Hill, C. W. L., & Jones, G. R. (2010). Strategic management theory: An integrated approach.        Boston, MA: Houghton Mifflin.

Griffin, R. W. (2008). Management. Boston: Houghton Mifflin Co.

Mohammed Rasool Khoory & Sons Co. (http://www.mrkhoory.com)