Within this paper, I will elaborate on the strengths of the aquaponic greenhouse business to make the business a success, by addressing the actions the business will take to recover from the weaknesses that the business will encounter. By describing the ways that the business can take with the current opportunities and create more opportunities for the business to grow, and identify threats and the plan for monitoring these threats within the business. Furthermore, I will discuss the way flexibility plays a role in business.
The outlining strategies that will be essential to gain and sustain a competitive advantage in the aquaponic greenhouse would include value where I would evaluate the resources and capabilities of the business. The value of Ponder Hill Aquaponic Greenhouse business will provide value to the changing trends concerning customers. In describing rarity within the aquaponic greenhouse is to have a different variety of products which are not the same as the leading competitor’s within the area. However, in discussing imitability that consists of imitating another business that has the same products or strategies in place to see if they will be compatible with the strategic plans that the business has put in place for the business.
In discussing the strengths of the aquaponic systems by building in a location that would be beneficial to the business so that customers would be able to access the products of the business. Picking the right location for the business is something that will determine the strength of the business. If a customer does not have access to your business they are not going to spend money within your establishment. Being accessible and easy to find is one strength that this business will have because the business will not be that hard to find. If you are not in the right location the customers are not going to find the business.
Some of the actions that will be taken to address the weaknesses of the aquaponic greenhouse business is to understand how the system works within the community by learning what I can about the business before diving right into it. For example, a friend who I know has already started working on his investment of building an aquaponic greenhouse, and it is not going so well at this point in the project. Learning about the different types of strategies and competitive advantages that the business would have can provide some interesting facts about the business and whether or not it will be a success. Another weakness that will have to overcome would be the financial end of the business. Acquiring the finances to put into the business takes time to collect and starting out without the help of investor’s, or loans. Working by overcoming the obstacles and having a plan in place will allow the business to be a success.
In describing ways to take advantage of the current opportunities is to provide consumer’s the choice of buying organic produce, and is environmentally safe for consumption. Opportunities may arise when the products and services can be offered in different locations or at different times. Some of the opportunities may arise unexpectedly, and some may be anticipated. In finding opportunities that will provide the business with a chance to improve the performance and the competitive advantage
Furthermore, Some of the threats that would be harmful to the business is an electrical failure, or pipe blockage that could result in a complete loss of all fish within the business. This would also result in spending more money on replenishing the fish that was lost. The aquaponic greenhouse can have multiple single points of failure that would result in the business being unsuccessful so addressing these risks or threats upon surfacing would be beneficial to the business and their success. One way to avoid this is to have a backup generator just in case there was an electrical failure, and to ensure that the pipes are flowing smoothly throughout the greenhouse.
In conclusion, by evaluating the strengths, weaknesses, opportunities, and threats will help understand how the aquaponic greenhouse can sustain a competitive advantage over the competitor’s in the surrounding area. By offering fresh organic produce to the consumer’s, with easy access to the products and services that Ponder Hill Enterprises offers to the customer. Furthermore, this paper elaborated on the strengths, weaknesses, opportunities, threats, and flexibility of the business. Identified a potential risk and the role that it plays within the strategy that is in place.
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Pearce, J. & Robinson, R. (2004). Strategic management: Formulation, implementation, and control. (9 ed.). McGraw Hill.