Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Joy Global analyses the brand by its strengths, weaknesses, opportunities & threats. In Joy Global 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 Joy Global to benchmark its business & performance as compared to the competitors. Joy Global is one of the leading brands in the heavy equipment & engineering sector.
The article below lists the Joy Global SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Joy Global SWOT Analysis:
For Joy Global, 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.
Joy Global Strengths
The strengths of Joy Global 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 Joy Global :
1. Wide range of products for every mining equipment need 2. Geographic diversification, Presence in many developing countries 3. Has strong and employee HR policies
4. Industrialization in developing countries and a strong demand for commodities there
5. Strong financial position and market value
Joy Global 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 Joy Global SWOT Analysis:
1. Downturn in domestic market has led to fall in revenue
2. Nationalization of mining activities in many countries
Joy Global 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 Joy Global SWOT Analysis:
1. Growing infrastructure & energy sector in Asia 2.Rise in the mining activities in developing countries where it has a significant presence
3. Acquiring smaller companies to strengthen its position
Joy Global 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 Joy Global are as mentioned:
1. A further downfall in the economic condition in the U.S could lead to working capital issues 2. Chinese and German competitors are also expanding in developed markets
Joy Global Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Joy Global:
1. Caterpillar Inc. 2. Terex International 3. BUCY International
Hence this concludes the Joy Global SWOT analysis.
A process focused culture is driving productivity and driving customer satisfaction
Joy Global STP
People and businesses who want heavy machinery used in underground and surface mining
People or Business expecting continued development for mission critical mining equipment
Global leader in design, manufacturing and support of mining equipment
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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