abhishreshthaa
Abhijeet S
Pest Analysis On Convergys Corporation : Convergys Corporation (NYSE: CVG) is a corporation based in Cincinnati, Ohio that provides customer relationship management services, consulting and professional services, billing services, and self-care technology. Most of its clients are companies in the telecommunications, financial services, technology, government, and employee care markets.
The business has nearly 75,000 employees and clients in more than 70 countries, speaking more than 35 languages, from 85 sites across North America, Europe, the Middle East, India and Asia (most notably in the India and the Philippines), the Pacific, and Latin America.
Convergys provides support to companies like General Motors and Comcast.
The company grew from Cincinnati Bell Information Systems and MATRIXX, both subsidiaries of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998; an IPO in 1998 made it a fully independent company. Since then, Convergys' headquarters in Cincinnati, Ohio, has acquired numerous companies.
Convergys sold its Human Resources Management line of business to NorthgateArinso in 2010.
Management: Effective management is required for the training and development of employees for the continue innovation of ReignCom’s IPod and for retraining sufficient funds during competitor introducing new product. Capital Availability: Competition may cause mishap in the cash flow. Sufficient funds must be available when competitors unpredictably put forward their product in the market. Technological Adoption: Technology must be adopted to improve overall efficiency. It must be integrated directly into operations to increase productivity, as well stay on date with the amounts of Ipod’s ordered, made and delivered. Competitors: Competitors will regulate what, when, how and why strategies will be adopted. The breaking down of barriers between countries can increase the sales of the ReignCom MP3’s and Ipod’s, as more people are made aware of the product. Males and females from the age of 12 years and over will be in favour of the products because of its new innovation to be able to not only play music but also books and other literature which would in fact appeal to them. ReignCom on its products and services is currently in the growth stage, where more and more people are aware and purchasing the product, increasing product demand. Sales are growing rapidly and profits are rising quickly, however competition is increasing as competitors are more cognizant of the tactics like, using new features to market their product. During this stage there are also opportunities for wider distribution, which will result in higher sales.
Ø There are enough financial resources that are allocated for the operation of this product
Ø Appealing to both males and females
Ø Good competitive skills
Ø Past products have had a good reputation
Ø Advanced key technology
Ø Product innovation skills
Ø The product has a narrow product line therefore unable to expand into other markets
Ø High prices may push potential customers to competitors with affordable prices
Ø Introducing a new product, when the niche market is already controlled by other competitor’s
Ø Poor uses of promotional strategy, as consumers were not properly introduced on the products significant use.
Ø Opportunity to capitalize financially
Ø Develop an admirable/exceptional goodwill that can have monetary value in future
Ø Opportunity for fast market growth
Ø Growing market trend
Ø New competitors continually enter the market
Ø The threat of not appealing to target market at all therefore generating a loss as opposed to profit
Ø Entry of imitators
Ø Vulnerable to the business cycle
Ø Tough laws being placed on internet MP3 downloads
The business has nearly 75,000 employees and clients in more than 70 countries, speaking more than 35 languages, from 85 sites across North America, Europe, the Middle East, India and Asia (most notably in the India and the Philippines), the Pacific, and Latin America.
Convergys provides support to companies like General Motors and Comcast.
The company grew from Cincinnati Bell Information Systems and MATRIXX, both subsidiaries of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998; an IPO in 1998 made it a fully independent company. Since then, Convergys' headquarters in Cincinnati, Ohio, has acquired numerous companies.
Convergys sold its Human Resources Management line of business to NorthgateArinso in 2010.
Management: Effective management is required for the training and development of employees for the continue innovation of ReignCom’s IPod and for retraining sufficient funds during competitor introducing new product. Capital Availability: Competition may cause mishap in the cash flow. Sufficient funds must be available when competitors unpredictably put forward their product in the market. Technological Adoption: Technology must be adopted to improve overall efficiency. It must be integrated directly into operations to increase productivity, as well stay on date with the amounts of Ipod’s ordered, made and delivered. Competitors: Competitors will regulate what, when, how and why strategies will be adopted. The breaking down of barriers between countries can increase the sales of the ReignCom MP3’s and Ipod’s, as more people are made aware of the product. Males and females from the age of 12 years and over will be in favour of the products because of its new innovation to be able to not only play music but also books and other literature which would in fact appeal to them. ReignCom on its products and services is currently in the growth stage, where more and more people are aware and purchasing the product, increasing product demand. Sales are growing rapidly and profits are rising quickly, however competition is increasing as competitors are more cognizant of the tactics like, using new features to market their product. During this stage there are also opportunities for wider distribution, which will result in higher sales.
Ø There are enough financial resources that are allocated for the operation of this product
Ø Appealing to both males and females
Ø Good competitive skills
Ø Past products have had a good reputation
Ø Advanced key technology
Ø Product innovation skills
Ø The product has a narrow product line therefore unable to expand into other markets
Ø High prices may push potential customers to competitors with affordable prices
Ø Introducing a new product, when the niche market is already controlled by other competitor’s
Ø Poor uses of promotional strategy, as consumers were not properly introduced on the products significant use.
Ø Opportunity to capitalize financially
Ø Develop an admirable/exceptional goodwill that can have monetary value in future
Ø Opportunity for fast market growth
Ø Growing market trend
Ø New competitors continually enter the market
Ø The threat of not appealing to target market at all therefore generating a loss as opposed to profit
Ø Entry of imitators
Ø Vulnerable to the business cycle
Ø Tough laws being placed on internet MP3 downloads
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