Dance-a-Boogie Case Study Solution
Answer # 1
The most appropriate analysis techniques which could be used in analyzing the business and also providing the investors with the appropriate information and attracting them for investing are:-
- SWOT Analysis
- Porter 5 Forces
- Competitive Analysis
- Asset Turnover analysis
- Market Analysis
- Customer analysis
The SWOT Analysis would help Danny in conducting an internal evaluation determining the company’s strength, weakness, opportunity and threats. Through identifying its strength, Dance-a-Boogie would be able to use its strength for countering its threats and availing the opportunities. Analyzing the company’s weakness would help to identify the areas for improvement, limitation, fault and problems of the company. The weakness could negatively impact on the opportunities and also enhance its threats.
The porter 5 forces consist of the bargaining power of supplier, bargaining power of customer, the threat of substitute products, the threat of new entry and competitive rivalry. The porter 5 forces would help the company in analyzing its external environment and how it affects Dance-a-Boogie. The bargaining power of suppliers such as the leasing of the venues and materials for food have the control and the potential of raising prices. The bargaining power of the buyers which are usually organization, university, bands and others have power on the price. The threat of substitute services of Dance-a-Boogie would be the clubs, bars and others. The competitive rivalry in the market providing the same services as Dance-a-Boogie. The porter 5 forces would generally help in understanding the competitive forces and the industry structure for making effective strategic decisions.
The company’s intention is to expand its business further by providing its services to more locations then its existing sites. It is critical for the company to analyze the competition in that particular location in understanding which other firms are providing the same type of services to the people. It could identify the competitor’s strength and weakness for developing a strategical marketing plan for exploiting its competitor weakness.
The Asset turnover ratio would help Dance-a-Boogie determining the usage of its assets for generating revenues and sales. The higher the asset turnover ratio would mean that the company had been utilizing its assets efficiently and is performing effectively. The investors would want the asset turnover ratio analysis before deciding whether they should invest in the business.
Since the company’s desire is to expand its services to further areas, it is crucial for the company in conducting the market analysis of that area. Such as the demographics and segmentation of that place, its target market, the demand for the services, competition and the barriers to entry.
DANCE-A-BOOGIE Harvard Case Solution & Analysis
Answer # 2
The Swot Analysis would help the company in determining its strength, weakness, opportunity and threats. It is one of the most important tool which is widely used in almost all of the companies for analyzing its internal environment. Generally, SWOT analysis is used for exploring new opportunities, making decisions, identifying areas for change and improving the business plan. The SWOT analysis is one of the most crucial tool for improving the business performance and its operations.
The internal factors in the SWOT analysis are the strength and weakness which consist of the financial resources, physical resources, human resources, strategies and company position. Whereas the external forces consist of the opportunities and threats which influences and affects every organization. The external factors are out of the company’s control and such factors are the economic conditions, demographics, customer changes and changes in the political and environmental regulations. Through conducting SWOT analysis, the team of Dance-a-Boogie would be able to make effective decisions, bring changes and improve the business performance.................
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