There is a lot of talk in the news and in society as a whole about the ability o
ID: 1157918 • Letter: T
Question
There is a lot of talk in the news and in society as a whole about the ability of American businesses to compete with the rest of the world. Some say our labor costs are too high and that the Chinese manufacturing has beaten the Americans. Some claim our regulations or taxes make it difficult for American companies to compete.
Do a quick SWOT (Strength/Weakness/Opportunity/Threat) on how you see American businesses.
Discussion: Do you think American businesses will lose out or beat the rest of the world?
1. Tell us why you have drawn that conclusion.
Explanation / Answer
America is the most powerful country with the largest economy in the world. American products and companies have their own brand value with a loyal customer base. American products are sold all over the world. The only problem is that American products are expensive which is the weakness of that country. The main reason for its high cost of products is the exchange rate value, taxes, labour costs and these are making the product expensive. Chinese products are cheap and of low quality but they are affordable. Thus Chinese products are sold in large number than American products.
According to SWOT analysis
Quality and brand image is Strength of American products
Weakness is its high cost that they keep for products . Thus they are not affordable to maximum people around the world.
Opportunity is going for second choice which is affordable
Threat: Chinese products
American business will never loose out due to its brand image for their products and in the same way it cant beat the world due to its high cost for products.
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