Analysis of the organisational profile of Lane Automotive and SWOT Analysis
Abstract
This paper uses the company websites, newspaper publications etc. to research on the organisational profile and the current company’s position of Lane Automotive. Lane Automotive has secured a brand name in the Automotive Industry. The organisational analysis enables us to know the strength and the opportunities it has to help it maximise its profits also the threat that needs to be kept under check and the weaknesses that needs it to overcome. The research suggests that Lane has its strong brand name and popularity as well as sponsorships of big racing events as its strength, the market and the economic conditions can pose threats, high bargaining power of customers can become a weakness and there are opportunities for expansion for the firm with the heavy state grant it received recently.
Analysis of the organisational profile of Lane Automotive and SWOT Analysis
Lane Automotive is an organisation that provides automotive components of superior quality as well as performance. It has four divisions. Lane Automotive is involved in serving the requirements of automobile racers, hobbyists and rodders
Company Background
History. George Lane founded the company he was a builder of drag race cars in a garage in his home (Jennings, 2015). The company was set up in the year 1964. The company is widely recognised for its better pricing and customer service of high quality (Lane Automotive, 2016). The company has trained workforce and is equipped with a showroom of over 10,000 square feet housing various automobile parts and accessories as well as racing cars and modified trucks. The Lane Automotive showroom is often known as the “Ultimate Candy Store” amongst the automotive enthusiast community.
Motor State- a wholesaler of speed automotive equipment’s, Allstar – hot rod hardware production line and Lane Collectibles are the related companies of Lane Automotive.
Mission/vision statement, goal and objectives. The company has the mission to provide the best parts and services at prices that are competitive.
The vision of Lane Automotive is to be ready to cater to the modern needs of the 21st century automobile industry in delivering futuristic and technologically advanced services and products.
Lane Automotive aims to be able to meet the ever changing needs and demands of the automotive world with perfection and serve the traditional speed market with new advanced products, parts and accessories.
Company’s current position and prospects - SWOT Analysis
Strength
It is the most famous brand in all racing events and a world known supplier of parts and accessories target to the racers, off-roaders and hot- rodders (Merritt Speedway, 2016).
Lane Automotive has a strong market presence and brand value in the automotive enthusiast community
The company is the proud lead sponsor of the Kalamazoo Speedway for the past 30 consecutive years and the sponsor of Michigan Dirt Cup Modified Races (Merritt Speedway, 2016). This is a strong brand and value proposition of the Lane Automotive (Kalamazoo Speedway, 2016).
It has a competitive pricing strategy and strong brand presence and its Motor State Division is the top warehouse suppliers of equipment’s (Jennings, 2015).
Weaknesses
In the automotive industry the bargaining power of the customers is high. With the availability of many options and motor parts variant there is fierce competition in the industry and the customers have alternatives to choose products from the company they wish to.
Lane Automotive although supplies to international markets, but it does not have international operation centers limiting its competition in the international markets (Jennings, 2015)
Opportunities
The Watervilet Township Board has granted $30 million to Lane Automotive for its expansion. This can serve as a potential opportunity for the organisation to undergo massive expansion and create about 138 new jobs (Moody Market, 2015). With the grant the company has vast expansion opportunities such as building a proposed 240,000 square foot warehouse (Lesrsten, 2015).
The organisation has a great opportunity to expand into international markets
Threats
The increase in the prices of raw materials, heavy competition and changes in the exchange rates can pose a threat to the organisation (Jurevicius, 2013)
The uncertainty in the macro-economy is a threat to Lane Automotive as the organisation is highly dependent on economic parameters such as the recession and unemployment (Bhasin, 2015).
References
Bhasin, H. (2015). SWOT analysis of Automobile industry. Retrieved from Marketing 91: http://www.marketing91.com/swot-analysis-of-automobile-industry/
Jennings, K. (2015, January 08). Lane Automotive expansion to create 138 new jobs. Retrieved from Second Wave: http://www.secondwavemedia.com/southwest-michigan/devnews/Lane-Automotive-expansion-to-create-138-new-jobs-0198.aspx
Jurevicius, O. (2013, February 15). SWOT Analysis of General Motors. Retrieved from Strategic Management Insight: https://www.strategicmanagementinsight.com/swot-analyses/general-motors-swot-analysis.html
Kalamazoo Speedway. (2016). LANE AUTOMOTIVE CELEBRATES 30 CONSECUTIVE YEARS AT THE ZOO IN 2016! Retrieved from Kalamazoo Speedway: http://www.kalamazoospeedway.com/2016/03/16/lane-automotive-celebrates-30-consecutive-years-at-the-zoo-in-2016/
Lane Automotive. (2016). Welcome to Lane Automotive. Retrieved April 08, 2016
Lesrsten, A. (2015, March 31). Lane Automotive expansion awarded a height variance. The Herald Palladium.
Merritt Speedway. (2016, March 18). Lane Automotive Rejoins Merritt for 2016 Season; Presenting sponsor of Michigan Dirt Cup Modified Races. Retrieved from Merritt Speedway: https://merrittspeedwaymi.com/lane2016/
Moody Market. (2015, April 22). Lane Automotive $30 Million Expansion OK'D. Retrieved from Moody Market: http://www.moodyonthemarket.com/pages/21401563.php?
