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Strengths
Weaknesses
Opportunities
Threats
|
Opportunities |
Threats |
|
|---|---|---|
|
Strengths |
SO Strategies | ST Strategies |
| – Utilize social media to gain website traffic | – Use social media to distribute products and combat new entrants | |
| – Take advantage of low-interest rates to source funds for expansion | – Invest in intellectual property to mitigate competition | |
| – Innovate eco-friendly products and sell at low prices | – Invest in cheaper fuel innovation with skilled workforce | |
|
Weaknesses |
WO Strategies | WT Strategies |
| – Increase marketing efforts to leverage e-commerce growth | – Improve working conditions to reduce employee turnover | |
| – Utilize low interest to provide incentives to employees and reduce turnover | – Invest more in Research and Development for a competitive edge | |
| – Utilize low interest to purchase property and reduce rent expenditure | – Improve working conditions to minimize intra-industrial competition |
Internal Strengths
Cigna possesses a highly skilled workforce, achieved through regular training on emerging patient needs. This workforce efficiency aids in service provision and product quality. Automation ensures uniform product quality and flexibility in production. The company’s favorable financial position enables future expansion. Social media presence on platforms like Facebook, Twitter, and Instagram enhances customer engagement (Guimaraes, 2020).
Strength and Opportunity Strategies
Cigna can leverage its strengths to explore new market segments and utilize its financial stability for expansion. Its strong media presence can drive online sales, and it can invest in eco-friendly products with its stable financial position (Guimaraes, 2020).
Internal Weaknesses
High employee turnover, costly rental properties, cash flow challenges, and low Research and Development spending are internal weaknesses. These weaknesses impact employee retention, operational costs, and innovation (Fern Fort University, 2016).
Weakness and Opportunity Strategies
Cigna can address weaknesses by capitalizing on opportunities. Utilizing e-commerce and government subsidies can reduce costs and improve employee welfare. Leveraging low-interest rates can facilitate property purchase, reducing rental expenses (Willis, Cave & Kunc, 2018).
External Opportunities
Digitization, growth in e-commerce, increased social media usage, low-interest rates, and government subsidies offer opportunities. These can enhance online sales, market presence, and product innovation in eco-friendly solutions (Baker, 2014).
Strengths and Threats Strategies
Cigna can employ its strengths to mitigate threats. Its social media presence can counter new entrants, investing in intellectual property can combat intra-industrial competition, and innovation with a skilled workforce can address high fuel prices (Fern Fort University, 2016).
External Threats
New entrants, high fuel prices, increased intra-industrial competition, and fluctuating exchange rates pose threats. These can lead to market share loss, increased production costs, and revenue reduction (Fern Fort University, 2016).
Weakness and Threats Strategies
Strategies to address weaknesses and threats include increased Research and Development investment for
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