Fortune Ng Fung Food Hebei (600965) SWOT Analysis / TOWS Matrix / MBA Resources

Introduction to SWOT Analysis

SWOT Analysis / TOWS Matrix for Fortune Ng Fung Food Hebei (China)

Based on various researches at Oak Spring University , Fortune Ng Fung Food Hebei is operating in a macro-environment that has been destablized by – central banks are concerned over increasing inflation, wage bills are increasing, competitive advantages are harder to sustain because of technology dispersion, banking and financial system is disrupted by Bitcoin and other crypto currencies, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing commodity prices, there is increasing trade war between United States & China, cloud computing is disrupting traditional business models, geopolitical disruptions, etc

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Introduction to SWOT Analysis of Fortune Ng Fung Food Hebei

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that Fortune Ng Fung Food Hebei can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Fortune Ng Fung Food Hebei, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Fortune Ng Fung Food Hebei operates in.

According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.

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SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix

SWOT analysis of Fortune Ng Fung Food Hebei can be done for the following purposes –
1. Strategic planning of Fortune Ng Fung Food Hebei
2. Improving business portfolio management of Fortune Ng Fung Food Hebei
3. Assessing feasibility of the new initiative in China
4. Making a Fish/Livestock sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of Fortune Ng Fung Food Hebei

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Strengths of Fortune Ng Fung Food Hebei | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Fortune Ng Fung Food Hebei are -

Low bargaining power of suppliers

– Suppliers of Fortune Ng Fung Food Hebei in the Consumer/Non-Cyclical sector have low bargaining power. Fortune Ng Fung Food Hebei has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Fortune Ng Fung Food Hebei to manage not only supply disruptions but also source products at highly competitive prices.

Highly skilled collaborators

– Fortune Ng Fung Food Hebei has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Fish/Livestock industry. Secondly the value chain collaborators of Fortune Ng Fung Food Hebei have helped the firm to develop new products and bring them quickly to the marketplace.

Strong track record of project management in the Fish/Livestock industry

– Fortune Ng Fung Food Hebei is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.

Learning organization

- Fortune Ng Fung Food Hebei is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Fortune Ng Fung Food Hebei is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at Fortune Ng Fung Food Hebei emphasize – knowledge, initiative, and innovation.

High brand equity

– Fortune Ng Fung Food Hebei has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Fortune Ng Fung Food Hebei to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Innovation driven organization

– Fortune Ng Fung Food Hebei is one of the most innovative firm in Fish/Livestock sector.

Diverse revenue streams

– Fortune Ng Fung Food Hebei is present in almost all the verticals within the Fish/Livestock industry. This has provided Fortune Ng Fung Food Hebei a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.

Sustainable margins compare to other players in Fish/Livestock industry

– Fortune Ng Fung Food Hebei has clearly differentiated products in the market place. This has enabled Fortune Ng Fung Food Hebei to fetch slight price premium compare to the competitors in the Fish/Livestock industry. The sustainable margins have also helped Fortune Ng Fung Food Hebei to invest into research and development (R&D) and innovation.

Analytics focus

– Fortune Ng Fung Food Hebei is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the Fish/Livestock industry. The technology infrastructure of China is also helping it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.

Ability to lead change in Fish/Livestock

– Fortune Ng Fung Food Hebei is one of the leading players in the Fish/Livestock industry in China. Over the years it has not only transformed the business landscape in the Fish/Livestock industry in China but also across the existing markets. The ability to lead change has enabled Fortune Ng Fung Food Hebei in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

Superior customer experience

– The customer experience strategy of Fortune Ng Fung Food Hebei in Fish/Livestock industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Ability to recruit top talent

– Fortune Ng Fung Food Hebei is one of the leading players in the Fish/Livestock industry in China. It is in a position to attract the best talent available in China. The firm has a robust talent identification program that helps in identifying the brightest.

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Weaknesses of Fortune Ng Fung Food Hebei | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Fortune Ng Fung Food Hebei are -

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Fortune Ng Fung Food Hebei is slow explore the new channels of communication. These new channels of communication can help Fortune Ng Fung Food Hebei to provide better information regarding Fish/Livestock products and services. It can also build an online community to further reach out to potential customers.

Skills based hiring in Fish/Livestock industry

– The stress on hiring functional specialists at Fortune Ng Fung Food Hebei has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.

Increasing silos among functional specialists

– The organizational structure of Fortune Ng Fung Food Hebei is dominated by functional specialists. It is not different from other players in the Fish/Livestock industry, but Fortune Ng Fung Food Hebei needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Fortune Ng Fung Food Hebei to focus more on services in the Fish/Livestock industry rather than just following the product oriented approach.

Need for greater diversity

– Fortune Ng Fung Food Hebei has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.

High bargaining power of channel partners in Fish/Livestock industry

– because of the regulatory requirements in China, Fortune Ng Fung Food Hebei is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the Fish/Livestock industry.

Products dominated business model

– Even though Fortune Ng Fung Food Hebei has some of the most successful models in the Fish/Livestock industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. Fortune Ng Fung Food Hebei should strive to include more intangible value offerings along with its core products and services.

Low market penetration in new markets

– Outside its home market of China, Fortune Ng Fung Food Hebei needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.

Aligning sales with marketing

– From the outside it seems that Fortune Ng Fung Food Hebei needs to have more collaboration between its sales team and marketing team. Sales professionals in the Fish/Livestock industry have deep experience in developing customer relationships. Marketing department at Fortune Ng Fung Food Hebei can leverage the sales team experience to cultivate customer relationships as Fortune Ng Fung Food Hebei is planning to shift buying processes online.

High operating costs

– Compare to the competitors, Fortune Ng Fung Food Hebei has high operating costs in the Fish/Livestock industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Fortune Ng Fung Food Hebei lucrative customers.

Workers concerns about automation

– As automation is fast increasing in the Fish/Livestock industry, Fortune Ng Fung Food Hebei needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.

High dependence on Fortune Ng Fung Food Hebei ‘s star products

– The top 2 products and services of Fortune Ng Fung Food Hebei still accounts for major business revenue. This dependence on star products in Fish/Livestock industry has resulted into insufficient focus on developing new products, even though Fortune Ng Fung Food Hebei has relatively successful track record of launching new products.

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Fortune Ng Fung Food Hebei Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The opportunities of Fortune Ng Fung Food Hebei are -

Leveraging digital technologies

– Fortune Ng Fung Food Hebei can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Fortune Ng Fung Food Hebei can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help Fortune Ng Fung Food Hebei to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Lowering marketing communication costs

– 5G expansion will open new opportunities for Fortune Ng Fung Food Hebei in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Fish/Livestock industry, and it will provide faster access to the consumers.

Reconfiguring business model

– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Fortune Ng Fung Food Hebei to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.

Creating value in data economy

– The success of analytics program of Fortune Ng Fung Food Hebei has opened avenues for new revenue streams for the organization in Fish/Livestock industry. This can help Fortune Ng Fung Food Hebei to build a more holistic ecosystem for Fortune Ng Fung Food Hebei products in the Fish/Livestock industry by providing – data insight services, data privacy related products, data based consulting services, etc.

Using analytics as competitive advantage

– Fortune Ng Fung Food Hebei has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Fish/Livestock sector. This continuous investment in analytics has enabled Fortune Ng Fung Food Hebei to build a competitive advantage using analytics. The analytics driven competitive advantage can help Fortune Ng Fung Food Hebei to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.

Identify volunteer opportunities

– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Fortune Ng Fung Food Hebei can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Increase in government spending

– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Fortune Ng Fung Food Hebei can use these opportunities to build new business models that can help the communities that Fortune Ng Fung Food Hebei operates in. Secondly it can use opportunities from government spending in Fish/Livestock sector.

Low interest rates

– Even though inflation is raising its head in most developed economies, Fortune Ng Fung Food Hebei can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.

Reforming the budgeting process

- By establishing new metrics that will be used to evaluate both existing and potential projects Fortune Ng Fung Food Hebei can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Fortune Ng Fung Food Hebei to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Fortune Ng Fung Food Hebei to hire the very best people irrespective of their geographical location.

Changes in consumer behavior post Covid-19

– consumer behavior has changed in the Fish/Livestock industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Fortune Ng Fung Food Hebei can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Fortune Ng Fung Food Hebei can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.

Buying journey improvements

– Fortune Ng Fung Food Hebei can improve the customer journey of consumers in the Fish/Livestock industry by using analytics and artificial intelligence. It can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.

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Threats Fortune Ng Fung Food Hebei External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats of Fortune Ng Fung Food Hebei are -

Instability in the European markets

– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Fortune Ng Fung Food Hebei will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.

Increasing international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, Fortune Ng Fung Food Hebei can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate Fortune Ng Fung Food Hebei prominent markets.

Environmental challenges

– Fortune Ng Fung Food Hebei needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. Fortune Ng Fung Food Hebei can take advantage of this fund but it will also bring new competitors in the Fish/Livestock industry.

Technology acceleration in Forth Industrial Revolution

– Fortune Ng Fung Food Hebei has witnessed rapid integration of technology during Covid-19 in the Fish/Livestock industry. As one of the leading players in the industry, Fortune Ng Fung Food Hebei needs to keep up with the evolution of technology in the Fish/Livestock sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.

Backlash against dominant players

– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Fortune Ng Fung Food Hebei business can come under increasing regulations regarding data privacy, data security, etc.

New competition

– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Fortune Ng Fung Food Hebei in the Fish/Livestock sector and impact the bottomline of the organization.

Technology disruption because of hacks, piracy etc

– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.

High level of anxiety and lack of motivation

– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Fortune Ng Fung Food Hebei needs to understand the core reasons impacting the Fish/Livestock industry. This will help it in building a better workplace.

Capital market disruption

– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Fortune Ng Fung Food Hebei.

Easy access to finance

– Easy access to finance in Fish/Livestock industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Fortune Ng Fung Food Hebei can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

Stagnating economy with rate increase

– Fortune Ng Fung Food Hebei can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the Fish/Livestock industry.

High dependence on third party suppliers

– Fortune Ng Fung Food Hebei high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.

Shortening product life cycle

– it is one of the major threat that Fortune Ng Fung Food Hebei is facing in Fish/Livestock sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.

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Weighted SWOT Analysis of Fortune Ng Fung Food Hebei Template, Example

Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at Fortune Ng Fung Food Hebei needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants. We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –

First stage for doing weighted SWOT analysis of Fortune Ng Fung Food Hebei is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.

Second stage for conducting weighted SWOT analysis of Fortune Ng Fung Food Hebei is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.

Third stage of constructing weighted SWOT analysis of Fortune Ng Fung Food Hebei to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Fortune Ng Fung Food Hebei needs to make to build a sustainable competitive advantage.

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