Assignment 4. Internal Factor Analysis for Cochlear Company

You need to have 10 max factors ,5 max strengths, 5 max weakness
Internal Factor Analysis for Cochlear Company
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Internal Factor evaluation for Cochlear Company
Introduction
Cochlear Company deals with hearing gadgets that are implanted in persons who have hearing disabilities. The company has been successful following its proper analysis of all the factors that affects its operations. For the success of the company to be achieved, various factors, both external and internal, need to be analyzed in order to identify the strengths and the weaknesses of the company. In the previous assignment, external factors affecting Cochlear Company were discussed in details. However, for this assignment, we are going to carry out an internal factor evaluation of the company to identify various strengths and weaknesses affecting the operations of this company. The company has been constantly improving in terms of its services including technological advancements. In most cases, the success of a company is directed towards strategies that have been laid by the particular business organization towards meeting its objectives. However, there are several challenges that might influence the operations of a company either directly or indirectly. Factors influencing the operations of the business organization indirectly are the external while those that influence the organization directly are termed as internal factors. For Cochlear Company, various internal factors that have been found to be influencing the business operations in the company include financial factors, human resources, and technology.
Cochlear Company Internal Factor Analysis Matrix



Internal Factors

STRENGTHS (S)

WEAKNESS (W)

Advanced Technology

High capital invested

Financial Factors

Lack of financial support

Availability of human resources

Understaffing at many levels

Good Management

Underfunding various projects

Early Establishment

High wages and salaries

 
 

Strengths
Technology
Over the years, the company has been experiencing several technological improvements that have facilitated its operations as far as hearing gadgets are concerned. A comparison between the initial hearing implants that were used by the company to solve hearing problems in the past years has greatly been modified to increase on their efficiency and effectiveness. On the same note, the company has been working towards improving their general services to the customers by making relevant technology advancements geared towards bettering the services(Colburn, 2018). Apparently, the technological advancement in the company is its strength, since the activities carried out in the company have been improved to meet the expectations of the patients. Some of the technological advancements that have been achieved by the company include the adoption of information keeping methods that utilize the electronic information dissemination procedures, modification of hearing gadgets to improve on their efficiency, and the introduction of new gadgets that are implanted in human ear to solve the hearing problems for the individuals. Due to the improvement in technology, the company has been able to make many profits by attracting more patients who have been convinced by the quality of the services offered by the company.
Financial Factors
The success of any company is dependent on the amount of finance that is required for it to carry out its intended operations, and the amount of capital that is readily available in the company. Financial matters are very essential factors that need to be evaluated for any business to determine the level of success in the company. Cochlear implant, being a very big company, requires large amount finance in order to effectively carry out its activities (Brown, 2014). As a result, proper financial sources of the company should to be identified to ensure a continuous inflow of the monetary income. According to various researches that have been carried out in the company, its main source of capital is received from the shareholders. Besides, the company makes large amounts of profits that are ploughed back into the business operations. However, the fact that the company needs large amount of funds to complete its activities proves a challenge. Most of the funds are spent in carrying out r...