| Strength | Weakness |
Strong brand name Focus on R& D and innovation Social and technological initiatives Recognition by various authorities | Drug testing debacles Negative publicity from competitors Alleged illegal marketing Insignificant presence in developed countries |
| Opportunity | Threat |
Potential partnership with governments Collaborative R&D with major pharmaceutical companies Growth in emerging markets Strategic expansion | Strict regulation environment Tough market completion Exchange rate fluctuations Drug testing control methods by the government |
Ten4Labs SWOT Analysis
Strengths
The major strength enjoyed by Ten4Labs is its strong brand name. Despite its limited historical presence in the market, the company has aligned itself accordingly to provide drug-testing services in the trucking industry (Kapoor, Tan-Koi, &Teo, 2016) . Besides this, it has been collaborating with major pharmaceutical companies through research and development to improve its drug testing services. In this regard, the company’s social and technological initiatives have also played a big role. For instance, the company is in the process of creating proprietary software for its seamless operations.
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Weaknesses
Ten4Labs has been faced with the existing strict regulation frameworks. Besides, there have also been instances of negative publicity by competitors. As a new company, Ten4Labs also has an insignificant presence in developed countries, thus disadvantaging it unlike the case with its competitors. The company has also been alleged of engaging in illegal marketing, thus depicting its brand image negatively.
Opportunities
Ten4Labs can partner with governments to provide its drug-testing services in the trucking industry. Besides this, it can also expand through strategic expansion and venturing into unexploited markets (Brooks, Heffner & Henderson, 2014) . Ten4Labs can also partners with other pharmaceutical companies to advance its research and development efforts.
Weaknesses
Ten4Labs faces stiff competition from New Era Drug Testing, Express Labs, US Mobile Drug Testing and Consortium. The existing drug testing controls by the government has greatly impacted on its business model. An exchange rate fluctuation is another weakness that could be faced by the company when it ventures into international markets.
References
Brooks, G., Heffner, A., & Henderson, D. (2014). A SWOT analysis of competitive knowledge from social media for a small start-up business. The Review of Business Information Systems (Online) , 18 (1), 23.
Kapoor, R., Tan-Koi, W. C., &Teo, Y. Y. (2016). Role of pharmacogenetics in public health and clinical health care: a SWOT analysis. European Journal of Human Genetics , 24 (12), 1651.
