This is a speech on Opening a “Dunkin Donuts” in the country of Curacao.
Opening a “Dunkin Donuts” in the Country of Curacao
In analyzing external and internal environments of any business, experts employ SWOT analysis. We are mainly concerned with the internal environment in this case. Dyson (3-4) noted that the major reason why majority of the organizations employ SWOT analysis is keen identification of weaknesses, strengths, threats and opportunities of any organization. Each organization employs its strength in capturing the available opportunities as well as to avoid threats (Wang Kuang-cheng 3-4).
Therefore, the strength of any organization is vital for its overall well-being and a sufficient source of competitive advantage. In every company, strength forms a part of internal environment. Therefore, managers should evaluate their firm’s strength critically to get competitive advantage.
Strength in SWOT Analysis
Production capability, available finance resources, market knowledge, personal or management resources that are at the disposable of any organization might be the basis of its strengths. Agarwal et al. (2-3) notes that the efforts of majority of the successful companies are focused by their internal capabilities, competencies and available resources.
Strengths that are based on production are due to the unlimited access to good and low cost raw materials’ sources, low cost facilities of production and sub-assemblies. Good market reputation and brand name as well as different brands get a firm its strength in market’s perspective. Positive balance sheet and cash flows are sources of a financial strength. Management’s competence and the ability of making quick decisions get a firm a vital advantage.
Possible strengths of Opening a “Dunkin Donuts” in the country of Curacao
Before a Dunkin’ Donut is opened in Curacao, assessing the company in terms of competencies, current policies and resources would of great essence. Agarwal et al. (4) notes that, before any investment, a firm needs to perform an assessment of these areas; value that the company will add in its existing resources from a specific project, assessment of if it is capable of controlling and guiding the available resources fully in order to achieve the set goals, whether its procedures and policies are aligned with the activities that will enhance the achievement of the set goals.
Dunkin’ Donut refers to a global restaurant industry’s firm that offers quick service with specialties in different classes and types of beverages and foods. Dunkin’ Donut has branches across the world which has made it popular as a leading provider of the service. As any other firm in the world this company has competitors as well. Curacao can be a great place for the company to start a Dunkin’ Donut because the country possesses great potentials and strengths.
Despite having a Dutch legal system, this country is a multi-lingual and multi-cultural state. Currently, it is also part of the large European Union. It also has great seaports and airports which are some of the best seaports and airports in terms of technology advancement and efficiency. The seaports and airports are currently advancing and attracting more foreign investors through the provision of essential incentives.
Dunkin’ Donuts has a vast network that supports a wide range of experienced workforce as well as quality products and competent management. These are likely to be beneficial to this company in Curacao. Over the recent past, Curacao has improved its efforts in resolving the unreliable infrastructure issues. Its adequate rails, roads, seaports and airports have opened it for more investors including Dunkin’ Donuts. There has also been a boost in the financial service industry with the development of the international banking firms. This has addressed and resolved the issues of the activities of poor banking.
Tax policies have also been established in Curacao. These are favorable to new investors and they can be beneficial to Dunkin’ Donuts because this is a field where it can commit its resources which will give it a better competitive advantage. There are also legal practitioners in the country who can advise investors.
With a diversified and wide network, this company can exploit the unexploited markets and Curacao is one of such markets that are not hard to exploit. Actually, this market is an opportunity for the company to introduce high quality products. The company has been in the quick service industry for quite a while. This has given it adequate franchising experience which will be important in Curacao market which lacks product development’s experience.
Dunkin’ Donut possesses unlimited resources which make developing products in this market easier. Venturing in the Curacao market will serve as an investment that will give the company raw materials which will further supplement the need for sufficient raw materials. Eventually, this will boost the competitive advantage of the company over competitors and impact on its returns positively because it will lower its production cost automatically.
Dunkin’ Donut offers excellent services. Customers are able to access its products with ease even placing orders through the internet and customers receive their orders within a short time. This will act as a major advantage of this firm in this market since it is currently growing. This will enable the company to establish itself early and create a good customer base.
The experience and commitment of its employees give it the ability to exploit relevant and available resources in this country. In any business, resources serve as strength’s source. Among the vital aspects of the resources of an organization is the human resource. This company will therefore earn a competitive advantage by training its human resources effectively.
As an international company, Dunkin’ Donut is a popular firm globally. Opening its part in this country will be an extension to a strange land that it has not explored before. It will also open an avenue for Dunkin Donut to get more resources, income and market for the final and ready products. It has well-established brands that are well-priced and designed for a growing market. These will have a great placement in this market. Certainly, this will act as a source of great strength for this company. The brand name of this company is also famous. This will also be easy to establish in the new market.
Wang, Kuang-cheng. A process view of SWOT analysis., N.d,
Agarwal, Ravikant, Grassl, Wolfgang, and Pahl, Joy. “Meta-SWOT: introducing a new strategic
planning tool”. Journal of business strategy.33, 1-13, 2012.
Dyson, Robert. “Strategic development and SWOT analysis at the University of Warwick”.
European Journal of Operational Research.152, 631–640, 2004.
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