Bus 680 week 2 assignment
Strengths: Fabrics Inc. has been successful in leveraging technology to improve its production processes and expand into new markets, which has allowed the company to remain competitive while still providing good quality products at an affordable price. Additionally, their focus on customer service and responsiveness has helped them develop strong relationships with customers and build brand loyalty.
Weaknesses: The company’s reliance on technology can be seen as a double-edged sword, as it can increase their vulnerability to changes in the market or disruptions due to cyber threats or data breaches. Additionally, the company may be overlooking other areas of potential growth such as social media marketing or e-commerce platforms that could provide additional opportunities for expanding their customer base.
What might be done differently: Fabrics Inc. should consider adding e-commerce capabilities to their website to allow customers to purchase products online directly from the manufacturer. They should also explore how they can leverage social media networks such as Instagram or Facebook for marketing purposes and potentially attract new customers from these channels. Finally, they should examine ways in which they can improve their cybersecurity measures and reduce any vulnerabilities associated with using technology in production processes and collecting customer data through online sales channels.