SWOT Analysis of a company reflects the effectiveness of the functions of the company in each and every department. Brainstorming technique was adopted to find the SWOT. It is a group creativity technique designed to generate a large number of ideas from a group of employees. Suggestions are evaluated and the analysis is made.
STRENGTH:
Quality of Products: The products of UEI possess high quality. It is an ISO 9001:2000 certified company. The company offers 15 years warranty for its products. Before getting approval. The company products pass through different types of tests.
Customer Focus: The Apex Management Team of UEI shall determine, understand and try to satisfy the needs and expectations of customer with the aim of enhancing customer satisfaction. The Marketing Department has the primary responsibility and Quality control has the secondary responsibility and all other departments have the responsibility for commitments for ensuring customer satisfaction.
Involvement of workers is high: UEI believes that involvement of all employees is essential for the better functioning of the organization. This is achieved by planned training as given in the guidelines for training. Top management of UEI establishes and provides leadership and unity of purpose and direction through Management Review Meetings, Monthly Performance Review Meetings and provision of resources.
Process Approach: The departmental guidelines of major functions follow a process approach and include (PDCA- Plan, Do, Check, Act) cycle, which provides proper direction in taking planned corrective actions.
Continual Improvement: Continual Improvement of Quality Management Systems is achieved through measurement of quality objectives achieved, measurement of customer satisfaction, resolution of departmental non-conformances, implementation of corrective and preventive actions and internal audits. These are reviewed in the management review meetings.
Mutually beneficial supplier relationship: UEI tries to maintain beneficial relationship with suppliers and thereby enhance ability of both to create value. The organization continually measures the performance of supplier sand gives them feedback and possible help to improve performance. It also gives them chance to assess the organization on the above chance.
Skillful workforce: UEI shall determine the competency of the personnel performing the work affecting the Quality Management Systems on the basis of assessment done by immediate superior. The identified needs shall be consolidated for preparation of the training plan for satisfying the training needs. A yearly Competence Improvement Plan covering training, exposure visits, self-learning etc. shall be prepared. As a result the workforce has expertise in the respective areas.
Good Industrial Relations: The relation with the top management and workers are cordial.
Not a single working day was missed due to labor unrest in the past 30 years.
WEAKNESS:
High employee turnover: With the introduction of VRS, the person shaving experience left the company. This resulted in the reduction of experience hand in the company.
Inadequate Performance Appraisal: The prevailing system of performance appraisal is inadequate in the present scenario.
Lack of Motivational Techniques: The Company provides mandatory welfare measures to its employees. But motivational technique like promotion takes too much time.
Time consuming policy decisions: UEI is a government company. So the decisions related to policy takes comparatively longer period.
Poor financial stability: For years, the company depended on only one customer and the customer gained high bargaining power. The government policies also affected the performance of the company. This lead to financial instability.
Inadequate R&D: Due to poor financial stability, company could not set aside much fund for R&D purposes. This prevented the company from introducing new products. Because of this, the competitors which were established after UEI overtook the company in many areas.
OPPORTUNITIES:
New Product Line: The Company will start the repairing of transformers within two months.
The procedures foe availing the order from KSEB has been completed. Within one year The Company will start production of transformers.
Raising Demand: Production of electricity has become more expensive which demands careful utilization and accurate measurement. With escalating power demand in Southeast Asia: most countries in the region are demanding novel electricity meters. Moreover, as increasingly more electric utilities install meters at their customers (both small power and large power consumers) site, sales for both single phase and three phase meters are increasing. Hence, the electricity meters market is witnessing stable growth. This is likely to further accelerate with the transition of electromechanical maters to electronic/digital meters in the future.
New Markets: The Company has orders from Andhra Pradesh. Talks are going on with West Bengal Government for the supply order of Meters. Efforts are progressing to explore foreign markets for company’s products. The company got enquiries from countries like Nigeria and Srilanka. And talks with Cuban and Venezuelan Ambassadors had been made with a view of getting orders from those countries. Between these, the company has great expectations in Venezuela
Threats:
Competitions: the company is facing tough competitions from the private and public sector undertakings
Emerging of modern technology: Due to globalization modern technology were available in the market. The competitor make s of that.