Sumitomo Swot

SWOT Analysis

There are many products produce within our great nation and many of them have realized the benefits of exporting their products or even building a new facility in another region of the world to be able to produce and sell to more of the world at a competitive price. One of the biggest problems when trying to enter a new market is reducing cost in order to gain the competitive advantage. There are several steps one should take if someone is thinking about entering into a market or offering a product to a new region, one of the steps one should take is a SWOT analysis. SWOT analysis simple means Strengths, Weaknesses, Opportunities and Threats.

I choose to do a SWOT analysis on a product I am already somewhat familiar with. That is a tire line that I have worked on for the last five years known as the Ultra Project. The Ultra Project uses a new technology to build the largest production tire in the world with a load capacity of one hundred tons per tire. When a full set is placed on an earthmover truck when three hundred and twenty nine tons that truck has the capacity to carry a load of two hundred and seventy one tons at a time. Of course they can always carry more but that is not recommended by Sumitomo.

This tire line is in service and showing a lot of promise during its testing in the United States. Data shows that the new tire line compared to smaller tire lines currently used around the world is capable of handling at least sixty nine percent higher forces than any other product. It would only make sense to offer this product around the world rather than just offering a few tires around the United States, Right?

Let’s start by talking about some of the strengths the company and this product line hold. Sumitomo is leading the tire industry with twenty two billion dollars of turnover each year. Sumitomo holds the number one spot for tire manufacturers in North America and Latin America as well as the number two spot in Europe only beat my...