It was developed in china and began as a project of Tencent Guangzhou research and a project centre in October year 2010. Its original name was Weixin. The project picked at a high pace whereby it had 4-5 million users by May of year 2011. By the end of 2011, it had managed to attract 50 million users. In March 2012, the number of the users was extremely high having over 100 million subscribers using the Wechat social media.
Nowadays, it is the first mobile phone text and the voice messages communication application in the world. It is leading also on the downloads of the applications and currently its free to download and to use. According to the global web index, it is the fifth most used Smartphone application worldwide. Its growth is tremendous in that by the October 2013 it had over 300 million users of whom majority are from china. It has roots and becoming popular now even outside china. Example of the application on the Wechat is during the recent clash of MH370 where the communication is being trapped.
Users of Chinese language from outside china were blocked where keyword filter was used. This occurred both in China and also in the foreign countries (Korpela 206). The day that followed; Ten cent released a statement addressing the issue. He apologized for that and the inconveniences that resulted to that failure. He promised to build the two platforms to avoid the reoccurrence of the same in future. This was by setting one mainlander for china and another one to serve the rest of the world.
This is the technique for undertaking the analysis on the capability of business entity. It has an extension to identification of opportunities which are open to an individual and also the business (Zorc 89) through the use of the WeChat. They also consider the threats that are likely to be faced and how they can be solved.
Steps in conducting SWOT analysis with the help of WeChat
Step 1: Deciding on the objective
In the SWOT analysis, objective of the business is well identified in a way of explains the purpose of the business. The objectives are projected to introducing new produce, services and change in the processes in the business (States 97).
Step 2: Research
Research on the business, industry and the market are essential in the analysis. It is done before starting the SWOT analysis. Research helps in understanding the business and its environment. The WeChat is used to contact other business individual in the industry to determine the environmental factors that influence the business in different markets.
Step 3: Strength listing
The strengths of the business are listed. These are the advantages that the business has over other in the industry. It covers area such as strength relating to the employees, financial, the resources availability and the location of the business. The business management gets the list of the strength of the employees on their contribution in the business. By financing the project, business should be in a position to generate the profit in the long run (States 97). If it is not possible, then the project financing should be reviewed and the cause of loss identified.
The strength of the business allocation comes from a strategic position in the market where the access of the customers is much easier. Resource availability is the most important in the producing industry (Korpela 206). The strength arises if the cost of acquiring the raw material is low. This makes the business to produce at low cost hence higher revenue in return.
Step 4: Weakness listing
Listing of the business weakness covers the disadvantages that the business is facing in the market. These include the absence of the new client and the product, lack of intellectual property right, staff absenteeism and the decline in the market share. They are elements that cause low performance of the business resulting to low productivity. In most cases, it causes losses in the business (Korpela 206).
Management should take proper measure that enhances the staff absenteeism is minimized. This weakness causes lack of accountability in the place of work leading to the low performance. High completion causes the business return to be low (Zorc 89). This makes share of the business in the industry leading to low productivity and low performance. These are the characteristics of a falling business that should be addressed in time.
Step 5: Potential opportunities
These are different from the internal strength because they cover external opportunities of the business. They are technology, change in government structure, training programs diversification of the market and the partnerships (Korpela 206). These factors contribute to the performance of the business hence the wellbeing of the customers.
The technological improvement incorporates the use of the WeChart in the business operation to get in touch with the customers (States 97). This enhances the communication with the employees and the stakeholders in the business. Change in the government structures comes with the new ideas from the newly elected leaders. As they enact in accomplishing the promises, the opportunities arise of which the business personnel capitalizes. This opens and adds ideas that investors can capitalize on to make good revenue in return.
Training programs that are offered in tertiary level are much essential in the opportunity identification. The seminars and other inductions activities in the business oriented programs provide rooms for the new business opportunities (Zorc 89).
Step 6: List of potential threat
These are factors facing the business and lead to problem causing threat to the business operation. They are competition increasing, high interest rate, unemployment and uncertainty on the market. They affect business directly and indirect leading to low performance. The treats depend with the type of the business and industry. Competition is the game of the business, but it requires strategic measures to be effective. Lack of the appropriate competitive measures can cause the low performance of the business to the point of closure (Korpela 206).
High interest rate and unemployment are macroeconomic factors that affect the business negatively. The high causes the price to be higher leading to the unemployment of the resources. This is a threat to the business in that the unemployment of the resources leads to inefficient production causing business to operate at a loss.
Step 7: Priority establishment
These are points that are to be given more consideration the business operation. They are selected from the weakness and the strength established in the business. They cover internal and external environment of the business (States 97). They are given priority as they are core to the business operation and cover other minor effects to the business. They are advantages as well as disadvantages facing business operation. This establishes the area to be given priority for the future wellbeing of the business. They are the potential in giving positive returns making the business operate at a profit.
Strategies to address
This is development of the issues that are to be addressed in the SWOT analysis. These reveal four priorities to be considered. They are strength to take advantage of the opportunity identified, how to use strength to overcome the identified weakness. Then, overcome the identified weakness by taking advantage of opportunities in the market (Zorc 89). Finally, is on how to minimize the weakness and overcoming the identified threat.
In business, SWOT has a major role in carving a suitable niche in the market (Korpela 206). This is in help of WeChart to alert the business owner of the impending resultant that may affect the performance in time or the future. It makes the business owner be prepared to face the expected issue being positive or negative. At a personal level, it has an impact of developing career in a manner of taking advantage of the talents ability and responsibility. This adds attribute to the life of the individual in the performance of the duties.
How SWOT analysis is used
It was originated in 1960s, and even today is much useful as it was in those days. It is used in two ways. The first one is as the icebreaker helping people get together in the strategy formulations (States 97). This does not require much technicality, with the WeChart it is easy to apply. The second way of the use of SWOT is in the application of the serious strategy tools. This is set to follow a certain procedure that for instance considering a business perspective.
The strength from both an internal perspective and customer's view and individuals in the market is considered. Similarly, it gives an option of identifying strength when having difficulties in its application, by writing down the list of the potential organizational characteristics. WeChart helps in connection of the different ideas that give opportunities to the involved parties in the business identified in any part of the world (Zorc 89).
Strengths of the SWOT analysis
It helps in enabling a quick response to the situation that arises in the business. With the help of the SWOT as a tool of response and WeChart as a communication mode, less time is required in enhancing the improvement in the functioning of the business. The results of the response are more likely viable and certainly yield to proper response as anticipated in the situation. The second strength is giving good customer care (Korpela 206). The customer needs care attendance so as to maintain them. The customers' feedback is efficiently and conveniently communicated with the use of WeChart.
Thirdly is that it helps in changing the direction quickly in the preparation of the situation impending. This makes the person in charge to ready to respond to the situation appropriately. In the business, many effects occur each day in handling of different customers on a variety of issues (States 97). This gives to rise to several situations, and with the help of SWOT and WeChart, the solution is fast and straight forward.
Korpela, Mikko. Organizational information systems in the context of globalization. Boston: Kluwer Acad. Pub, 2003.
States, United. SWOT analysis : A tool for making better business decisions. Washington: Dept. of Agriculture, Risk Management Agency, 2008.
Zorc, Samo. Digital content SWOT analysis. Chicago: FORSEE Partnership, 2012.