Losing the prospect of your child is one of the complex things that parents can take through. The new product presents parents with an incredible opportunity to track the whereabouts of the child. The timekeeper is the solution to all these problems. The Timekeeper is an essential preventive measure when managing children. The threats and opportunities are essentials since the company may face (Hamel, 2008). The opportunities provide room for improvement of the Timekeeper in competitive perspective and performance. The threats may affect the performance of the Timekeeper and to a larger extent adversely influence the achievement of goals. Timekeeper’s opportunities and threats include:-
There is room to exploit big and new markets in various countries
The ever rising child trafficking and disappearance of children create the demand for the product in the marketplace
The parents are dissatisfied with traditional way of managing children making the timekeeper the best product
New technology displaces the obsolete products but provides an opportunity for the new product to develop
Population increase and change of family lifestyles create an avenue for parents to use timekeeper
The timekeeper does not offer real-time physical security to the child and their car
Based on advancement of technology and ever improvement in the technology sector may render the timekeeper obsolete
New competitors put the product at risk. These means that the product should have the highest potential
The legal systems in the world may affect the use of the timekeeper in other countries
There should be an extra skill and resources required that enhance response time when the Timekeeper is in use
The responsible stakeholders have to ensure that the opportunities are explored in a maximum manner, and the threats are minimized. The managers to take into consideration identified opportunities and take advantage of the existing trends. Looking closely at the strengths and weaknesses creates an avenue for opportunities that can be exploited by the company to achieve competitive advantage. It is essential to critically analyses new technologies and ensure that the threats that arise are avoided.
Hamel, G. (2008). The Future of Management. Human Resource Management International Digest Vol 16(6), 23-34.