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Written assignment (week 5)
Athlete house
The case study talks about two people named Colin & Ed Power who
have been into sports and have worked with many companies. They
have decided to start their own business by putting their passion and
experience into the business line to make more money.
Additionally, they were able to start their business but one of them could
not work all day because he was still working and could not prevent
work but rather support for like 20 hours a day. And same as other
businesses they also had a lot of rivals that were already in the business
before they came in; now like every other successful business they also
have to survey the market to know more about the product and prices to
compete with the competitors. Furthermore, after surveying the market,
they got to know that competitors are selling with a 50% margin so they
were not ready to decrease the price to sell low-quality brands instead
they chose to sell a better quality product because people always look
for quality first.
Now let's see the SWOT (Strengths, Weaknesses, Opportunities, and
Threats) of Athlete’s Warehouse.
Strengths: Athlete warehouse was passionate about their work and also
had experience with the products. Besides, Colin and Ed Powel are
seasoned athletes. Colin worked as a physical education teacher and
earned a Ph.D. in the field; on the other hand, Powel was also a
successful track runner, winner, and organizer of events in the past.
They've also provided coats, uniforms, running shoes, and skis to several
local schools.
Weaknesses: There was a lack of management that resulted in a
situation in which the company's strategy did not adjust to its vision and
purpose.
Secondly, the fitness factory location was in the basement, therefore
they could generate more sales because they were out of traffic.
The other weakness is the competition that their company had to
compete with famous brands that had been on the market for years, but
they had only been there for a few months.
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Opportunities: They had vital competitors since they offered unique
and high-quality products that were not available in any other stores, and
also their background in sports identifies them as professionals in the
sports industry because they are experienced. Plus, they could also offer
a wide range of products like; the Kardashian sisters to increase
demographic areas to more diverse groups which previously were not in
their target range because it was the best way to get famous and generate
more traffic.
Threats: The major threats to the athlete warehouse were the other
stores in their surroundings. Because they could also start selling the
same items at the same or lower prices. And this would affect their
prospects as well as their labor costs which are not the same in
demographic areas. They would need at least two employees in the store
all the time. If Colin does not work on management issues so it may
occur by pretending a threat to the company's overall performance.
Overall evaluation: My overall evaluation of the Athlete's Warehouse
is that both brothers are experienced and have huge ideas about the
sports industry so they must work on their management skills and find
out what their weaknesses, strengths, opportunities, and threats are;
otherwise, their business will not last for so long. Every day people will
come up with new perspectives in the market so they must be up to date
and give proper time to their business and management.
References,
Howse, B. (1992). Athlete's warehouse (A). Atlantic Entrepreneurial
Institute.
Carpenter, M., Bauer, T., and Erdogan, B. (2010). Management
Principles, v. 1.1. Retrieved
fromhttps://2012books.lardbucket.org/books/management-
principles-v1.1/
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Written assignment (week 5) Athlete house The case study talks about two people named Colin & Ed Power who have been into sports and have worked with many companies. They have decided to start their own business by putting their passion and experience into the business line to make more money. Additionally, they were able to start their business but one of them could not work all day because he was still working and could not prevent work but rather support for like 20 hours a day. And same as other businesses they also had a lot of rivals that were already in the business before they came in; now like every other successful business they also have to survey the market to know more about the product and prices to compete with the competitors. Furthermore, after surveying the market, they got to know that competitors are selling with a 50% margin so they were not ready to decrease the price to sell low-quality brands instead they chose to sell a better quality product because people always look for quality first. Now let's see the SWOT (Strengths, Weaknesses, Opportunities, and Threats) of Athlete’s Warehouse. Strengths: Athlete warehouse was passionate about their work and also had experience with the products. Besides, Colin and Ed Powel are seasoned athletes. Colin worked as a physical education teacher and earned a Ph.D. in the field; on the other hand, Powel was also a successful track runner, winner, and organizer of events in the past. They've also provided coats, uniforms, running shoes, and skis to several local schools. Weaknesses: There was a lack of management that resulted in a situation in which the company's strategy did not adjust to its vision and purpose. Secondly, the fitness factory location was in the basement, therefore they could generate more sales because they were out of traffic. The other weakness is the competition that their company had to compete with famous brands that had been on the market for years, but they had only been there for a few months. Opportunities: They had vital competitors since they offered unique and high-quality products that were not available in any other stores, and also their background in sports identifies them as professionals in the sports industry because they are experienced. Plus, they could also offer a wide range of products like; the Kardashian sisters to increase demographic areas to more diverse groups which previously were not in their target range because it was the best way to get famous and generate more traffic. Threats: The major threats to the athlete warehouse were the other stores in their surroundings. Because they could also start selling the same items at the same or lower prices. And this would affect their prospects as well as their labor costs which are not the same in demographic areas. They would need at least two employees in the store all the time. If Colin does not work on management issues so it may occur by pretending a threat to the company's overall performance. Overall evaluation: My overall evaluation of the Athlete's Warehouse is that both brothers are experienced and have huge ideas about the sports industry so they must work on their management skills and find out what their weaknesses, strengths, opportunities, and threats are; otherwise, their business will not last for so long. Every day people will come up with new perspectives in the market so they must be up to date and give proper time to their business and management. References, Howse, B. (1992). Athlete's warehouse (A). Atlantic Entrepreneurial Institute. Carpenter, M., Bauer, T., and Erdogan, B. (2010). Management Principles, v. 1.1. Retrieved fromhttps://2012books.lardbucket.org/books/managementprinciples-v1.1/ Word count: 606 Name: Description: ...
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