Next, the three owners of the business stated that they would like to increase their personal salaries, yet they haven't assessed how they are going to do it. They have not set up any short-term, intermediate, or long-term goals to be - again no plan achieved compromising future direction of the company.
Lastly, if the company plans on future growth and requires funding, where will they acquire this funding from since banks seem hesitant to lend out funds?.
Objective.
To determine the future direction of the company and to increase profits.
SWOT Analysis.
Strengths.
Amongst all the issues that appear to plague the further success of DigiTech, we feel that is necessary to mention the strengths of DigiTech. These are areas that DigiTech should focus there efforts on to improve their stature in the industry.
The most significant strength of DigiTech is their ULC certification. They have a significant advantage over the competition because they are the only ULC certified security installation company in Nanaimo. This strength has two major advantages over the competition; firstly, they offer a top quality system certified to reduce the risk of fire or theft, and second, there systems would lower the insurance costs of the consumer. This certification is what is separating DigiTech from the other competition in the industry; however DigiTech must make use of this advantage before it is too late.
The second area of strength for DigiTech revolves around their public relations. With polite and courteous road manners of the installation staff resulting in positive word of mouth combined with their goodwill' functions such sponsorship and committee roles, DigiTech has created a very strong PR network amongst the community. This is very important to the success of DigiTech because they believe that their success and growth are factors of word of mouth. The word of mouth is what has built DigiTech's reputation in the industry; a change in their public appearance could be disastrous to their future success.