Recommendations for Louis Vuitton Company Limited

2021-06-17 20:13:53
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Wesleyan University
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Having carried a swot analysis for Louis Vuitton Company limited, I managed to identify the various strength of this company, its weaknesses, and opportunities that the enterprise has and can easily venture into (Lerouge, Tulu, et, al.2010, 100). The threats that the firm is exposed to were also identified. After carrying out this swot analysis, I came up with various recommendations that the company can view and use appropriately to ensure that the firm runs correctly and makes a good profit. A swot analysis is paramount to a company provided that the firm takes recommendations of it very seriously. It is very necessary to business.

During the initial stages of swot analysis, the strengths of the company were first sorted out. The first strength to be identified was advertisements. The company is said to have very strategic advertising procedures. The company has invested much in the modern methods of publication. These methods reach more customers. This shows that the company gets a lot of clients thus the profit enjoyed is much high (Esteban, Canado, et, al.2004, 124). My recommendations to this the company on the advertisement techniques. I advise the company to opt the modern methods of advertisement for example uses of televisions, posters, radios, social networks and use of sale persons.

The collaboration of a company with other businesses is a great milestone. The partnership between the companies influences positively and negatively on both companies. The company as observed, it has cooperated with various other companies and partners in its operation. The company has collaborated with distributors of their products, suppliers of raw materials and also other people like banks. The collaboration of these corporations and other businesses agreeing to do work together has a great impact on the companies involved. The companies live symbiotically in such that every business benefits from the other. Every business enjoys the benefit of participation in this collaboration. Louis Vuitton Company should ensure that it makes sure it collaborates with other business persons, enterprises and organizations for the welfare of the company (Esteban, Canado, et, al.2004, 130). By having many collaborations, the company is exposed to many customers thus increase in sales. Also, the company operations are eased for example the company does not need to distribute its goods it only needs to collaborate with companies involved in the distribution of assets. In another example, a company does not need to advertise for itself, it just needs to work with advertising companies, and this will reduce the companys expenses and save the companies time too.

Another strength of the business that was identified was working close with retailers. Once a company collaborates with retailers, the company is sure not to suffer the expenses of transportation of goods. The company has enjoyed many years of good working conditions with retailers. The Company has many retailers who acquire products from the enterprise. The retailers also reduce the cost of storing goods because once they purchase products; they save in their stores thus relieving the company the storage problem (Leigh, Pershing, ET, al.2012, 1108). The company should ensure that good relationship with retailers is withheld. The retailers should get goods at much-discounted prices so as to promote them to buy products from the enterprise.

Various weaknesses were found about the company after carrying out the swot analysis. These shortcomings include an increase of counterfeit in the market. This has been as a result of companys failure to keep operations secret and safe (Passow, Glarhow, et, al.2010, 306). For example revealing the raw materials, they use in the production of those goods. Availability of these fake products in the market renders the company to be customer less. This is because the people doing counterfeit will prepare poor quality goods as they try to be economical and this will lead to customers hating the products. The company should ensure that anybody accused of counterfeiting must face the exact color of law. Also, the company should also be less lenient in showing their various ways of manufacturing their goods as this exposes people to the idea of manufacturing.

The company has many opportunities that it can invest into (Zaman, 2010, 1-2).These opportunities include continuous innovation and supports. The company can urge its employees to be thinking critically, and this will help in improving the business operations. By having innovations, the works done in the enterprise reduces and also there is the reduction of manpower, and this is so economical to the company. In other cases, the company can come with other ways of advertising their goods like holding web conferences on Facebook and other social media. The company can identify problems affecting the business potential in its operation. Through innovation, the company thinks and defines the latest methods to solve problems. The company also has also gained a lot of support from the community as a whole. The company is backed by all means as observed by its large number of customers (Passow, Glarhow, et, al.2010, 308-310). The company should identify the various methods that it can use to promote business. The company should use modern methods of customer service like engaging customer in an online platform. This shows that the firm can get international clients. Another opportunity is the presence of celebrities in Asian countries. This demonstrates that the market of these goods safe could increase because of the limited supply of goods. I would urge the company to make sure that it get access to these celebrities and sell them their products. This will eventually increase the number of customers.

Threats to the company were identified. These threats include competitors, burning of items rather than selling them (Passow, Glarhow, ET, al.2010, 310-312). Also counterfeits of goods were recognized as threat to the business.it was observed there was rise in the number of companies venturing into this business of fashion and clothes .this high level of competition leads to reduce number of customers .also the competitors seems to reduce their price of goods with the aim of kicking Louis Vuitton Company limited out of the business. The company should think of favorable other methods of completion; they should look at the competitors' techniques and use them in establishing themselves. By doing this, if they do this, they are sure that the level of achievement will go down.

Another threat is the companys behavior of burning goods which failed to meet the production; this makes a company suffer from financial constraints. The company makes minimal profits, and this is much a threat to this business. (Esteban, Canado, et, al.2004, 136)Putting all matters into consideration, goods that seem to be of low quality should be so cheaply rather than burning them. Law is another threat in which it is very alert to view the misuse of the law by the company. The company should ensure it works in a legally allowed platform and failure to do so may make the business suffer from heavy fines, closure or both.

References

Agarwal, R., Grassl, W. and Pahl, J., 2012. Meta-SWOT: introducing a new strategic planning tool. Journal of Business Strategy, 33(2), pp.12-21.

Chermack, T.J. and Kasshanna, B.K., 2007. The use and misuse of SWOT analysis and implications for HRD professionals. Human Resource Development International, 10(4), pp.383-399.

Esteban, A.A. and Canado, M.L.P., 2004. Making the case method work in teaching Business English: a case study. English for Specific Purposes, 23(2), pp.137-161.

Leigh, D. and Pershing, A.J., 2006. SWOT analysis. The handbook of human performance technology, pp.1089-1108.

LeRouge, C., Tulu, B. and Forducey, P., 2010. The business of telemedicine: strategy primer. Telemedicine and e-Health, 16(8), pp.898-909.

Passow, T., Fehlmann, R. and Grahlow, H., 2005. Country reputationfrom measurement to management: The case of Liechtenstein. Corporate Reputation Review, 7(4), pp.309-326.

Zaman, K., 2011. Review of Pakistan pharmaceutical industry: SWOT analysis. International Journal of Business and Information Technology, 1(2).

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