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Competitor Analysis

In: Business and Management

Submitted By jamiefox07
Words 1455
Pages 6
Competitor Analysis and Description of Management Team for Wired Inc.
Prepared by: Jamie Fox
Saint Leo University

Abstract
In the following paper it will be discussed the competitor analysis and a description of the management team. In dealing with the competitor analysis we will look at other companies that are similar and what services they actually offer to the customers. We will break down their strengths and weaknesses and compare them to our own strength and weaknesses. Not only will we look into existing companies but ones that might enter this market. This is an area that Wired Inc. can see happening. This is due to the simple fact that it is almost a part of the market that has been uncharted. Once people take notice of the development of Wired Inc., we expect to see new competitors come in.
The management team is essential to any business and without a well-structured one the company is sure to fail. They will be the backbone of this company. In this paper it will be discussed the key managers and employees that Wired Inc. would employee along with what future additions to the management team we expect to have and what board of directors or advisors to have in place.

Competitor Analysis
Existing Competitors
Since Wired Inc. has basically entered a branch of the market that none have ventured before, we will take a look at competitors that provide the same services just not with the 24hr availability.
FedEx/UPS
FedEx and UPS are the two main competitors that Wired Inc. will be up against when trying to increase our cliental. One of the major strengths that these two companies have is the long standing they have had in the marketplace. UPS was founded in 1907 and FedEx was founded in 1971. Both companies have survived the changes in the economy and have thrived. They have established their name and brand with the public to where when a customer needs to ship something automatically they look up the nearest location to them. Therefore there are many customers whom of which will use no other service due to the fact that they have always had a good experience with FedEx or UPS.
How this affects Wired Inc., even though we are not a shipping business, is how FedEx and UPS have ventured out of their comfort zone and have now started offering additional services such as printing, faxing, computers for the public to use, and etc. However, they supply these services at what some may say an expensive cost due to the simple fact this is not their bread and butter of the company. It is more along the lines of icing on the cake. This is just supplemental income to them.
Another strength is due to the long history of the company, is their multiple locations whereas Wired Inc. is just starting off. We understand that due to this simple fact people may not want to make the trip to the business when they have the use of FedEx or UPS facilities right around the corner. This is where we have to be smart about our pricing and lure customers in.
The weakness of these companies is that most of the time the employees employed there are not technologically savvy. They know how to do the basics but there have been many of times for most of us that we were unable to accomplish what we set out to do because the employees didn’t understand or know how to do it. This is where Wired Inc. will separate itself from the rest by having knowledgeable staff that will be able to perform any task required of them.
Another weakness that these two companies have is their hours of operation. As stated before Wired Inc. is the first of its kind to be open 24hrs whereas FedEx and UPS have set hours of operation.

Public Libraries/School Facilities
This is also true with the computer labs that are located at either school facilities/ public libraries. They have limited operational hours to which are extended to the public for use. This is especially true during the weekend to where the local libraries close in the early afternoon. The weekend time is when majority of the public needs access to such technology.
However even though they have limited hours of operation like that of FedEx and UPS, their major strength is due to the fact that these facilities usually provide their service free or has small charges. This could be an issue for Wired Inc., but we believe that majority of the public do not want to be cramped in a small area in the library but to be able to feel relaxed.
Potential Competitors
When a new branch of the market has been found, it isn’t long before businesses starting venturing into it. Being that this is exactly the situation, Wired Inc. expects to see new companies becoming established in this market making the competition that much more intense. We can foresee this happening possibly within the next five years. Even though this could cut into some of our profit, we believe that by that time we will have established a good cliental. What this means is that over time we have loyal customers to whom of which seek out our facility instead of us seeking them. Also Wired Inc. will have established itself and the new locations will help to spread our reputation even more than it is now.
Description of Management Team
Due to the simple fact that this is a starter company, the type of ownership is a sole proprietorship. The reason for this type of ownership is because the founder, Jamie Fox, wants to make sure that the company succeeds and wants to be sure to be the executor of every decision until Wired Inc. has established itself.
Key Manager and Employees
The types of employees Wired Inc. want to hire are technology savvy and have high customer service skills. Being able to understand the technology that is available for the public to utilize is essential. How can we assist our customers if we ourselves do not understand how to do it? The answer is we can’t. Preferably the education level that we will be seeking would be that of college level to whom of which understand the basics of the equipment that will be used. Now then they do not have to be experts, but they at least need to understand how to step through the process.
The mangers would have to have at least three years of experience in this type of field, but entry level management would be considered. Also another feature that Wired Inc. would be on the lookout for is bilingual. Reason being for this is due to the simple fact that we will be able to extend our reach to those who are not able to articulate very well in English what they need help with.
Resume Standouts
The Resumes have to depict someone (both for managerial position and regular positions) who takes an interest in the field. Wired Inc. is looking for someone with a passion for technology and have excellent customer service skills. This is essential since this is what our business is all about. Also it would have to portray a certain level of experience dealing with such equipment or possibly having certifications that one could receive. Having these traits will separate potential candidates from the rest.
Additional Management
As the company expands, Wired Inc. is planning to always try to promote in house personnel. Reason being is that the employee has already shown loyalty to the company and an eagerness for additional responsibility. Plus we believe it is easier to mold they type of mangers needed to run the business rather than try to find a fit for the position outside of the company. However, for the time being there will be a hierarchy in place of the following:
The day will be run in three eight hour shift. Each shift will contain a manager for every eight workers. The shift managers will report to the store manager to whom of which is currently the founder. Employees will report directly to their shift manager and will not jump overheads.
Future Board of Directors or Advisors
Eventually, as Wired Inc. grows there will be a board developed to make the decisions that will trickle down to the branches of the company. These directors, as with future managers, will be sought out through promotions and investors in the company. However, the final decision will be given by its founder, Ms. Fox, due to the simple fact she will remain the majority shareholder of the company.

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