Lelong. Swot Analysis

Vision points to the future, where the organization is headed to and what it can become. Vision statement clarifies the direction and strategic intent of a company. Richard Tan establishes Interbase Resources Sdn Bhd, which owns e-commerce Company Lelong.com, along with a vision that is the Internet is bound to revolutionize the way business is done. Therefore, the vision of Lelong.com is to provide an international online marketplace to connect the whole world. As he believed that technology, and especially the Internet, can change the way people interact with each other on the social front, in our transactional business relationship, with our suppliers, etc. There is an efficiency that can be created if we are able to apply the Internet on

Lelong.com with a mission statement of "Serving the community and bringing a high standard of quality into homes and businesses by providing an avenue for on-line trading at a low cost", the staff behind Malaysia’s premier auction site continually strive to improve and develop its functionality without levying high costs. This mission statement is proposed as the managers assess it to the nowadays situation.

3.2 Analysis of organization’s strategy (SWOT)

After identifying organization’s current mission, goals, and strategy, Lelong.com will present a SWOT analysis where internal and external analysis are conducted, so as to have a better understanding of opportunity, threats, strength and weakness of the own company. The internal analysis includes strength and weakness. The external analysis includes opportunity and weakness.

Strength

a. Business model

Lelong.com only acts as an intermediary between seller and buyer, who bid and sell items in Lelong’s marketplace. As the pioneer auction website in Malaysia, Lelong.com had no competition and currently has only a few strong direct competitors in Malaysia such as eBay, mudah.com, Amazon, and so

Competitors may offer similar products at a cheaper price

Lelong.com offers variety types of products as others competitors such as eBay, mudah.com and Amazon will also offer many choices of different brands of the same products to the customers at a cheaper price. This may invite customers in making decisions on which brand of products should buy by comparing the price of the products.

3.3 Formulating strategies

After understanding the strength, weakness, opportunity and threats of Lelong.com, managers will start to formulate the strategies by considering the external and internal environment. Strategies such as corporate strategies, competitive strategies, and functional strategies are applied so that the plan can perform well.

3.4 Implementing strategies

A successful strategy implementation will lead to the success of the business venture. Every strategy of Lelong.com have to be implemented properly if not all the strategies will become meaningless even though the plan is strong and powerful. Manager of Lelong.com should make sure all the related department worked with the organization goals by monitoring them in their works.

3.5 Evaluating and