Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Suncor Energy analyses the brand by its strengths, weaknesses, opportunities & threats. In Suncor Energy SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Suncor Energy to benchmark its business & performance as compared to the competitors. Suncor Energy is one of the leading brands in the energy & power sector.
The article below lists the Suncor Energy SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Suncor Energy SWOT Analysis:
For Suncor Energy, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Suncor Energy Strengths
The strengths of Suncor Energy looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Suncor Energy :
1.Integrated energy operations in which crude production, upgrading, refining, and marketing operations are all connected to a single strategy
2.Ranks in the Forbes Global 2000 list
3.Collaboration with strong brands like PetroCanada to strengthen its operations
4.Strong transportation network
5.Working collaboratively with vendors on technological innovations and to improve equipment performance
6.Efficient Oil sand production
7.Globally competitive integrated energy company with a balanced portfolio of high.quality assets, a strong balance sheet and significant growth prospects
Suncor Energy Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Suncor Energy SWOT Analysis:
1.High dependence on the Canadian market is a concern
2.Nature of operations invite environmental compliance
Suncor Energy Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Suncor Energy SWOT Analysis:
1.Ten year growth strategy plan which include continued development of stages four through six of the company's Firebag in.situ project, development of a second stage of the MacKay River in.situ project, and investments and ongoing production in international and offshore operations
2.Development of alternate energy sources
3.Develoment of Firebag oil sands project to increase bitumen supply while reducing costs and an impact on the environment.
Suncor Energy Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Suncor Energy are as mentioned:
1.Environmental, health, and safety (EHS) regulatory non.compliance
2.Commodity price volatility
3.Change in government regulations has a direct impact on Suncor's business, financial condition, results of operations, and cash flow
Suncor Energy Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Suncor Energy:
Pioneered commercial development of Canada's oil sands — one of the largest petroleum resource basins in the world
Suncor Energy STP
Corporates and individuals in North America, Libya and Syria looking to fulfill energy needs
Enterprises looking to produce energy , people who depend on petrol, diesel for vehicles in North America, Libya and Syria
Full filing the energy needs of Corporates and individuals
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