Background and SWOT Analysis of Canadian TireAnmol Kumar Garg2018100530BUSI 1033 Introduction to Business 11/11(19W-C-BC-N01)Amr ShokryYorkville University24 February 2019Canadian Tire Corporation, Limited is a Canadian retail company which sells broad range of products. CITATION Can17 l 4105 (Canadian Tire: History of a revered Canadian icon, 2017).
In its 90 years of business, it has provided everything that has been demanded by its customers. The company was established in 1922 and humbly known as a Canadian company. CITATION Can17 l 4105 (Canadian Tire: History of a revered Canadian icon, 2017). It serves Canadians an extraordinary 250 million times in an annual period with the help of 68,000 employees. CITATION Can17 l 4105 (Canadian Tire: History of a revered Canadian icon, 2017). It is one of the most trusted and iconic brands due to its triangle rewards in loyalty and credit card program in the country.CITATION Can17 l 4105 (Canadian Tire: History of a revered Canadian icon, 2017). The headquarter of company is in Toronto.Background, Situation and its RelevanceIn 1922, two brothers John W.
and Alfred J. Billes buy the Hamilton Tire and Garage Ltd. in Toronto and then after closing it in 1923, they opened it in a new place in Toronto and named it Canadian Tire Corporation. CITATION Can l 4105 (Canadian Tire, n.d.). In 1934, the company started its first official store in Hamilton. Canadian Tire opens its first gas bar in 1958 that also provided them a discount coupon that can be redeemed on its stores. CITATION Can l 4105 (Canadian Tire, n.d.). Celebrating its 50th anniversary, company opens a new store in the province of Saskatchewan. CITATION Can l 4105 (Canadian Tire, n.d.). In 1973, it opens it first distribution Centre in Brampton. In 1981, company has 334 stores. Canadian Tire Financial services become the first institution to open a Mastercard that is known as Options Mastercard. CITATION Can l 4105 (Canadian Tire, n.d.). Canadian Tire Foundation for families launched in 1999 to help families. CITATION Can l 4105 (Canadian Tire, n.d.). While doing partnership with National Hockey League (NHL), Canadian Tire launched the Canadian Tire Hockey School. CITATION Can l 4105 (Canadian Tire, n.d.). It is one of the major parts in increase of Canadian economy. It has connection with many departments that are linked with each other. Todays it is considered as the top most brand in the Canada. CITATION htt l 4105 (htt)SWOT AnalysisStrength- The company operates varied store arrangements to distinguish its operations and enlarge its market space. CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). It has 1702 stores in Different places in Canada. It is one of the leading retailers in Canada and ahs a variety of products in fields like sports, automotive and living. CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). Almost every place where the stores are built up in Canada are owned by the company.CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). Canadian Tire stores are available at short distances for about 90% of Canadians. CITATION Can171 l 4105 ((Canadian Tire Corporation, Limited SWOT Analysis.), 2017). Due to the link of Canadian Tire in different aspects like transportation trough trucks, seaways and many other helps the supply of all products in a better way. It is the major supply chain the Canada. CITATION Can171 l 4105 ((Canadian Tire Corporation, Limited SWOT Analysis.), 2017)Weakness- The major weakness of Canadian Tire is the increase in trade receivables. Company has faced an increase in its receivables. CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). It is only limited in Canada that affects its popularity. There are two cases on company that can affect its reputation. To come out of this, company must solve legal disputes. CITATION Can171 l 4105 ((Canadian Tire Corporation, Limited SWOT Analysis.), 2017). The recalling of product again and again affects the company. For instance, in 2015, Canadian Tire recalled a product named Gunk radiator 10-minute flash due to some labeling problem. These kinds of things may cause a bad impact on consumers. CITATION Can171 l 4105 ((Canadian Tire Corporation, Limited SWOT Analysis.), 2017)Opportunities- Company is now trying to focus on inorganic growth to expand its business. CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.) Due to the recent increase in the retailer business, company can strengths itself by providing more online facilities. CITATION Can1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). Company are increasing the online facilities like mobile apps and online websites that can increase the sale. Home delivery is also considered as the better method to increase the interest of customers.Threats- Due to the increase in the competitors such as Walmart, The Bay and many more, there is a risk of decreasing in the sales. Many categories of Canadian Tire are competing in many different fields in which kitchen appliances, cleaning, storage and other products are included. CITATION Placeholder1 l 4105 (Canadian Tire Corporation, Limited SWOT Analysis.). Seasonality is also the major threaten in company’s business. The changing in the fashion trend also cause affect in the business. As different companies manufacture different kind of products that are more fashionable can cause crisis in company business.References BIBLIOGRAPHY (n.d.). Retrieved from (Canadian Tire Corporation, Limited SWOT Analysis.). Canadian Tire Corp. Ltd., Toronto (Ont.). Retrieved from Tire. (n.d.). Retrieved from Canadian Tire: Canadian Tire Corporation, Limited SWOT Analysis. Swot Analysis, Canadian Tire Corp. Ltd., MarketLine.(n.d.). Canadian Tire Corporation, Limited SWOT Analysis. Swot Analysis, Canadian Tire Corp. Ltd.Canadian Tire: History of a revered Canadian icon. (2017, June 8). Retrieved from The Hamilton Spectator (Online):