Blafax Insurance Group is a company that operates in Los Angeles and twenty other cities in the US and across the globe. The company’s headquarters is in Los Angeles while the biggest international outlets are found in Finland. Therefore, the customers of the company range from the US citizens to those across the globe, particularly in Europe and Asia. Blafax Insurance Company is dedicated to offering a broad range of insurance services to its customers. The firm has been in existence from 2003 when it began as Blafax Insurance in Los Angeles before rebranding to Blafax Insurance Group in 2010 after it had expanded its operations to cover newer markets. This paper focuses on outlining the SWOT analysis of the company in the context of its services.
SWOT Analysis of Blafax Insurance Group
What the SWOT Chart Reveals
The chart above reveals that the company has more strengths and opportunities than the disadvantageous threats and weaknesses. The main strength of the company is its large financial base. However, the company also enjoys working in a conducive political environment and a strong institutional culture. The biggest weakness to the company is slow adaptation to new markets does not have the best employee motivational aspects. The company has a chance of expanding its customer base. The main threat that the business faces is stiff competition from other firms in the industry.
Evaluation
SWOT analysis is a tool that indicates the advantages and weaknesses of any business. I have compared the strengths against the weaknesses of the company and realized that there are more advantages than disadvantages. Therefore, the business venture is viable enough to guarantee excellent performance, which means I will continue with it.
References
Angeles, Sara. (2014). 4 Free SWOT Templates for Small Businesses. [Online]. Web.
Fox, W., & Van, W. G. (2007). A guide to project management. Cape Town: Juta.