Previously, we did extensive research on the SWOT analysis of Deloitte, a global professional service network. Now today we will have a look at the SWOT analysis of PwC.
PwC stands for PricewaterhouseCoopers International Limited, it is an international global services firm known for its expertise in accounting and auditing in the global context. PwC by revenue is the world’s largest professional services firm, in addition to being a member of the Big-4 accounting companies.
PwC’s target groups are all industries and big organizations. To reach their target they have digital services provided with a new kind of consulting to help them reimagine their businesses in this digital era. To know more about the changing scenario of marketing, join our Free MasterClass on Digital Marketing 101 by the CEO and founder of IIDE, Karan Shah.
Do you want to know how PwC became successful? In this blog, we will get to learn about the SWOT analysis of PwC. Before proceeding further let us just know more about the PwC as a company.
PwC, or PricewaterhouseCoopers is a multinational professional services organization headquartered in London, United Kingdom. PwC has 175,000 workers and offices in 757 locations in 154 countries. Coopers & Lybrand and Price Waterhouse merged in 1998 to form Price Waterhouse Coopers & Lybrand. As part of a major rebranding effort, the trading name was abbreviated to PwC in September 2010.
PriceWaterhouseCoopers is recognized for its excellent corporate finance accounting services, including audit, tax analysis, company compliances, corporate finance, risk management, security, and other services that are up to date in the financial sector. PriceWaterhouseCoopers adheres to a code of conduct in all of its global offices, ensuring that all of the firm’s rules and laws are followed.
PwC to be included in the LinkedIn Top Companies list for 2021, In the Chief Learning Officer 2021 Learning Elite Awards Program, PwC was ranked 15th and was also named one of the top places to work in advertising and media in 2020 by Advertising Age.
|Coopers & Lybrand
|No. of Employees
|$21 Trillion (2021)
|$45.1 Brillion (2021)
|Net Income/ Profit
Services by PwC
Some of the services provided by the PwC are:
- Tax management
- Accounting services
- Business recovery
- Corporate finance
- Human resources
What’s new with PwC
Check out some current news about PwC:
- PwC Australia chief faces Senate fury over tax leak scandal.
- PwC CEO apologizes to Australia as Senate inquiry chair calls business practices ‘crap’
- Deloitte expands as PwC Maldives, Sri Lanka network firms exit.
- Ensure financial compliance and transparency.
- Optimize tax strategies.
- Leverage data for informed decisions.
- Stay updated on regulations.
- Minimize financial and legal risks.
Interest & Hobbies
- Playing Golf
- Business Tours
- Complex tax regulations.
- Global compliance challenges.
- Cybersecurity and data privacy risks.
- Industry disruptions.
- Streamlining processes for efficiency.
Social Media Presence
So as we got to know about the business of PwC, now we will discuss the SWOT analysis of PwC.
SWOT Analysis of PwC
SWOT analysis examines the strengths, weaknesses, opportunities, and threats that a firm faces. SWOT Analysis is a tried-and-true tool that enables a company like BCE (PwC Canada Enterprises) to compare its business and performance to that of its competitors.
It will give us a strategic analysis of its internal and external environment, which is crucial for understanding the SWOT Analysis of PwC.
To better understand the SWOT analysis of PwC, refer to the infographics below:
Below is an explicit guide to the SWOT analysis of PwC.
Strengths of PwC
PwC has numerous strengths that help it to thrive in the marketplace. Some of the strengths of PwC are
- Renowned Reputation: PwC is one of the worlds biggest firms and have had high revenue due to its focus on consultancy, operational services, management, digital, technology, and high standards and morals which leads to its high performances
- Strong Clientele Connection: PwC has a large client base in a variety of sectors throughout the world. PwC has partners in approximately 800 offices across 157 countries with 200,000 employees
- Client-Friendly Environment: PwC has a client-friendly environment that prioritizes clients’ requirements and needs which has led to strong and trusted relationships with clients
- Diverse Capabilities: Due to its work in different sectors such as communications, technology, financial and public services, and product resources it has created diverse capabilities within its team. Dedicated and trained manpower for each sector is the reason why PwC is different from the rest.
- Experts and Professionals: PwC has a large number of skilled workers and specialists behind it to get things done, with a customer base ranging from consulting to IT services. As a result, PwC has established itself as a “specialist” or “expert” in a variety of sectors, employing a large number of industry specialists.
Weaknesses of PwC
Weaknesses are aspects of a business or brand that can be worked upon. Here are some of the weaknesses of PwC:
- Innovation: PwC has been unable to compete in terms of innovation with the sector’s best businesses despite spending more on research and development than the industry average.
- Rate of Employee Attrition: There is a significant rate of employee attrition when compared to other companies in the business. PwC has a greater personnel turnover rate and must spend more on training and development.
- Lack of Coordination: Due to several sectors working simultaneously there can be a lack of communication and coordination in teams. PwC has been trying to serve several mid-size companies as well but faces stiff competition which can further lead to slower growth.
- Dependence on Consultancy: Consultancy is a major source of revenue in PwC, despite having different sector works which can be bad for companies long run.
- Investment in R&D: PwC has not been able to compete with the leading players in the industry in terms of innovation and R&D. It has come across as a mature firm looking forward to bringing out products based on tested features in the market.
Opportunities for PwC
Opportunities are potential areas of focus for a company to improve results, increase sales, and, ultimately, profit. Some of the opportunities for PwC are
- Expanding Customer Base: PwC can gain from the acquisition of smaller consulting and financial companies by expanding its customer base.
- Latest Tax Policy: The latest tax policy has the potential to have a big influence on company practices and to provide new opportunities for established companies like PwC to boost their profitability.
- New Green Laws: The new possibilities will level the playing field for all industrial participants. PwC will have a fantastic chance to demonstrate its leadership in new technologies and acquire market dominance in a new product category.
- Low Inflation: A cheaper inflation rate provides more market stability and allows PwC clients to obtain loans at a lower interest rate. After years of recession and a poor growth rate in the business, an economic rebound and increase in consumer spending provide a chance for PwC to gain new clients and market share.
- Experience in Financing & Auditing: PwC has technology in financial and auditing experience, which may be of benefit to global financial services.
- Mid-Market Businesses: PwC has numerous products and services that support many customers and that’s the reason it will reach mid-market businesses. This will provide the company with a lot of opportunities.
Threats to PwC
Threats are environmental factors that can be harmful to a company’s growth. The following are some of PwC’s threats:
- Government Policies: Government Policies are the major factors that affect the business of a company like PwC.
- Strong Competitors: There are lots of competitors in the market. When there is already competition from established players in the industry, then ultimately it will continue to diminish PwC’s market share.
- Currency Fluctuation: Where currency fluctuation happens, international projects appear to be hitting. Which is a serious challenge to the business.
- Knowledge Centers: This can have a counter effect on consulting firms’ business when firms constitute their in-house knowledge centers.
Competitors of PwC
Here are the top 5 competitors of PwC-
- McKinsey: McKinsey & Company is a global management consulting firm known for its strategic expertise, advising top executives on key decisions to drive organizational growth and effectiveness.
- Deloitte: Deloitte provides a wide range of professional services, including audit, tax, consulting, and advisory, helping clients solve complex business challenges and navigate regulatory landscapes.
- Ernst and Young (EY): EY is a multinational professional services firm offering services in assurance, advisory, tax, and transactions, with a focus on helping clients build a better working world.
- Accenture Consulting: Accenture is a global consulting and technology services firm that specializes in digital transformation, helping businesses adapt to new technologies and achieve operational excellence.
- KPMG: KPMG is a leading professional services firm offering audit, tax, and advisory services, assisting clients in managing risks, improving performance, and achieving compliance.
This ends our elaborative SWOT analysis of PwC. Let us conclude our learning below.
PwC is a well-reputed company that is a trusted one among business clients in the world. In the SWOT analysis of PwC, we learnt that it has reached the markets of its nation but is still facing the problem of marketing its products internationally due to fewer funds and inefficient financial planning.
With increasing competition in such markets, companies need to do better digital marketing efforts. In today’s world, people need to know more about the marketing aspects used to boost the company’s growth. If you are intrigued with the above piece of information in learning more and upskilling, check out the 3 Months Advanced Digital Marketing Course by IIDE to know more.
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