SWOT Analysis and Recommendations for OzCo Boats

This article provides a SWOT analysis of OzCo Boats, a boat business in Coffs Harbour, New South Wales. It discusses the strengths, weaknesses, opportunities, and threats of the company, and provides recommendations for future strategies. The article suggests that OzCo Boats should pursue product development and market development strategies, upgrade their technologies, improve employee morale, and properly utilize their resources.

Running Head: OZCO BOATS 0
OZCO BOATS

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Contents
INTRODUCTION......................................................................................................................2
SWOT ANALYSIS OF OzCo BOATS.....................................................................................3
A. STRENGTH AND WEAKNESSES.................................................................................3
B. OPPRTUNITIES AND THREATS...................................................................................3
ANSOFF MATRIX................................................................................................................3
RECOMMENDATION AND CONCLUSION.........................................................................5
REFERENCES...........................................................................................................................6

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INTRODUCTION
OzCo Boats is boat business in Coffs Harbour, New South Wales conducting since 1961.
This boat was purchased by a family. They make boats with high quality luxury boats in
modest and these boats are hand made in traditional ways with the use of traditional
materials. Inspite of this they have no restrictions because government do not impose any
restriction on boat builders who are using traditional materials (as given in the case study). In
the entire discussion it will be discussed about SWOT analysis that is strength, weakness,
opportunity and threats of OzCo Boats, analysis of threats and opportunities which were
discussed in SWOT analysis, recommendations for OzCo Boats that they should pursue in
future.

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SWOT ANALYSIS OF OzCo BOATS
A. STRENGTH AND WEAKNESSES
STRENGTH
 They have high experience in building boats by which they can earn huge profits.
 They have very few restrictions on the use of traditional boats.
 Due to no restrictions, the product which they are using right now will be legal for
many years.
 It has made strong reserve fund which is a good strength for OzCo Boats.
WEAKNESSES
 Although they are ruling the market of Australia but they have no experience in
overseas market which is a great weakness to the OzCo Boats.
 The technologies of OzCo Boats are outdated which are not making any use in the
current scenario.
 They are not making any technological changes due to the reason that it is not well
enough to do changes till there current product become illegal in Australia.
B. OPPRTUNITIES AND THREATS
OPPORTUNITIES
 OzCo Boats has various opportunities in the overseas market due to its market
reputation.
 By using market development they can expand their business in new market.
 By making new product they can earn more in today’s scenario because their
traditional boats are still attracting the people as mentioned in case study.
THREATS
 New firms entering the market with new concepts so for OzCo Boats this can be hard
to sustain with old criteria in upcoming years.
 Taxes by government are increasing day by day so this will be a threat to boats
company (Davin, 2012).
 If government will starting imposing taxes on traditional boating industries also then
it will increase the cost for OzCo Boats.
ANSOFF MATRIX- In Ansoff matrix there are four model namely market development in
which a firm by using its existing product enter into new market, product development in
which new products are launched in the existing market, market penetration in which
companies grow through its existing products in existing market, diversification in which
companies enter into new market with new product (Hanlon, 2013). According to the given
case study OzCo Boats should go for product development in which new products are
launched in existing market. By using product development model OzCo Boats can meet the
customers demand which are fast changing, if they can satisfy the emerging growing demand
of customers it will result in satisfaction by customers which in turn result in more profit and
market share of OzCo Boats (Clark, 2017).

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RECOMMENDATION AND CONCLUSION-
Through the above analysis it can be recommended that-
 It should increase the morale of the employees so that they feel motivated to work in
workplace as well as their needs should be given due care. A positive working
environment should be maintained so that employees work in enthusiastic manner
because a happy environment motivate the employees to work more which in turn
increase the productivity as well as profit of the company (Heathfield, 2018).
 Upgradation in technologies should be done by OzCo Boats to sustain in the ever
challenging environment. Upgradation in technologies will help them in increasing
the efficiency as well as productivity. Technology upgradation will also satisfy the
employees by providing them knowledge of latest technologies which will help them
in enhancing their knowledge (commercial vehicle, 2015).
 Product differentiation strategy should be used so that customers can easily make the
difference between their product with another on a similar offerings. It can increase
their product value because customers can easily understand that this product will be
long lasting than others (Kelchner, 2018).
 Market development strategy should be used in which company do not go for new
market rather it work in existing market by searching new buyers for its product, the
only aim in market development is to increase sales by getting more and more
customers (Economic Times, 2018). Market development should be done by OzCo
Boats which means that they should use strategies by which new customers needs and
wants are fulfilled (Czarniewsk, 2014).
 Proper utilisation of resources should be done as to increase the productivity of their
resources. Through proper utilisation they can get more output by putting less input in
efficient manner. Resources should be utilised in such a way that the wastage is
minimum (Hermes, 2013). Not only natural resources is used in best possible manner
along with it human resources should also be properly utilised in order to work in
efficient and productive manner.
From the above discussion, it can be concluded that OzCo Boats business which is owned by
their family, do trading of boats to boat yards and also sale their boats to Australian people
who want to buy boat from them. In the ever changing environment the technologies are
upgrading and customers expect much more in a variety so OzCo Boats can go for
technology upgradation in order to sustain in competitive environment. It is also seen that
employees have low morale from OzCo Boats because it is seen in case study that boat
builders who are using high technologies will be going to buy OzCo Boats business because
they are small competitors.

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REFERENCES
Clark, E. (2017) 6 reasons why you need to listen to your customers. [online] Available from:
https://www.theresearchtoolkit.com/benefits-of-customer-satisfaction/ [Accessed from
30/05/08].
Commercial Vehicle. (2015) Technology plays an important role by ensuring productivity,
higher uptime and efficiency. It is contributing to lower TCO. [online] Available from:
http://commercialvehicle.in/technology-plays-an-important-role-by-ensuring-productivity-
higher-uptime-and-efficiency-it-is-contributing-to-lower-tco/ [Accessed from 30/05/18].
Czarniewski, S. (2014) Market Development and Relationships with Customers: A Model
and Conceptual Approach. International Journal of Academic Research in Accounting,
Finance and Management Sciences, 4(3), pp. 199-205. DOI: 10.6007/IJARAFMS/v4-i3/1183
Davin, M. (2012) SWOT Analysis: Today’s marina industry. [online] Available from
http://boatingindustry.com/top-stories/2012/02/01/swot-analysis-today%E2%80%99s-
marina-industry/ [Accessed 30/05/18].
Hanlon, A. (2013) What is the Ansoff Matrix?. [online] Available from:
https://www.smartinsights.com/marketing-planning/create-a-marketing-plan/ansoff-model/
[Accessed from 30/05/18].
Healthfield, S.M. (2018) Simple Ideas for Improving Employee Morale in Your Workplace.
[online] Available from: https://www.thebalancecareers.com/you-can-boost-employee-
morale-1918107 [Accessed from 30/05/08].
Kelchner, L. (2018) the Advantages of a Product Differentiation Strategy. [online] Available
from: http://smallbusiness.chron.com/advantages-product-differentiation-strategy-17691.html
[Accessed 30/05/18].
The Economic Times. (2018) Definition of 'Market Development'. [online] Available from:
http://hrmars.com/hrmars_papers/Article_22_Market_Development_and_Relationships.pdf
[Accessed from 30/05/18].