Last time we discussed the SWOT analysis of Apar Industries which is one of the largest and most renowned manufacturers of conductors, cables, oil and lubricants. This time let’s study the in-depth SWOT analysis of TAKE Solutions.
TAKE Solutions ia a full-service CRO supporting pharma, biotech and devices companies across the globe. It has end-to-end capabilites across clinical, regulatory & pharmacovigilance.
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Before we begin with SWOT analysis, let’s know more about the company, the products and services they offer, their financial status and its competitors.
About TAKE Solutions,
TAKE Solution is a full-service CRO supporting pharma, biotech and gadgets companies over the globe. In the fast-growing Life Sciences space, TAKE offers clients an interesting combination of full-service Clinical Inquire, Generics Advancement, Information Sciences, Administrative Undertakings, and Pharmacovigilance/Safety administrations supported by special innovation mastery.
TAKE Solution’s run of administrations spans from clinical trials to administrative entries to post-marketing security, all supported by bits of knowledge determined through restrictive industry systems gatherings. With a group of driving Life Sciences specialists, best-in-class frameworks and forms, and bespoke, industry-specific innovation and analytics, TAKE conveys effective results for clients.
TAKE Solutions’ worldwide list of clients incorporates huge and little trailblazer biopharmaceutical and gadgets companies as well as generics manufacturers. With operations spread over the globe, It is an Open Company, recorded in India on the Bombay Stock Trade and the National Stock Exchange and the National Stock Exchange. Led by a team of industry stalwarts and domain experts, it has been growing steadily with FY21 revenues touching INR 7,860 Mn (USD 106 Mn).
|No. of Employees||5000+|
|Market Cap||Rs 454.90 Crore (2022)|
|Annual Revenue||Rs 207.4 Crore (2021)|
|Net Income/ Profit||Rs 41.82 Crore (2021)|
Services by TAKE Solutions
TAKE Solutions had been in business for over four decades and primarily deals in:
- Clinical Research
- Generics Development
- Data Sciences
- Regulatory Affairs
Competitors of TAKE Solutions
Several corporations are attempting to compete with this massive enterprise, Some of the competitors include
- One Six Solutions
- Ingram Micro
- Encore Business Solutions
Now that we understand the company’s core business, let’s delve into the SWOT Analysis of TAKE Solutions.
SWOT Analysis of TAKE Solutions
A SWOT analysis evaluates the strengths, weaknesses, opportunities, and threats that a firm faces. TAKE Solutions may evaluate its business and performance against rivals and the industry as a whole using this tried-and-true management model.
It’s a great tool for figuring out where the firm shines, where it falters, devising countermeasures, and figuring out how to expand.
To better understand the SWOT analysis of TAKE Solutions, refer to the infographic below:
So let us start by expanding on the strengths of TAKE Solutions:
Strengths of TAKE Solutions
The distinctive qualities that provide a company with an edge in acquiring greater market share, attracting a larger audience, and maximising profitability are essentially its strengths. The following are TAKE Solutions’ strengths:
- Strong Free Cash Flow: There is a strong free cash flow that puts resources into the hands of the company to expand into new projects.
- Good ROI: It is relatively successful in new projects and provides a high return on capital expenditures through the creation of new revenue streams.
- Strong Brand Portfolio: Over the years TAKE Solutions has invested in building a strong brand portfolio. This brand portfolio can be very useful if an organization wants to expand into new product categories.
- Outstanding Performance in New Markets: TAKE Solutions has accumulated experience to enter new markets and achieve success. The expansion has helped organizations create new revenue streams and diversify business cycle risks in the markets in which they operate.
- Highly Skilled Labor: Highly skilled workforce through successful education and training programs. By investing enormous resources in the training and development of TAKE Solutions employees, they not only create highly qualified employees but also motivate them to achieve more.
- Mergers and Acquisitions: A track record of successfully integrating additional companies through mergers and acquisitions. Over the past few years, he has successfully integrated several technology companies to optimize operations and establish a stable supply chain.
Weaknesses of TAKE Solutions
Strategy is all about choices and weaknesses are areas where companies can improve through SWOT analysis and leverage their competitive advantage and strategic positioning.
- More Investment is Needed in New Technologies: Given the scale of the expansion and the multiple geographic regions in which the company will expand, TAKE Solutions’ overall integrating processes requires more money to be invested in technology. Current investments in technology are not aligned with the company’s vision.
- Financial Planning is Not Being Performed Properly and Efficiently: The liquid asset ratio and liquidity ratio indicate that a company can use its cash more efficiently than it currently is.
- High Labour Outflow: With higher dropout rates compared to other organizations in the industry, TAKE Solutions, and have to spend significantly more on employee training and development than its competitors.
- Not Very Successful in Integrating Companies with Different Work Cultures: As mentioned earlier, TAKE Solutions is successful at integrating small companies. It has its share of failures to merge firms that have different work cultures.
- High Competition: The daily stock is high compared to its competitors, so the company has to raise more capital to invest in the channel. This could affect the long-term growth of TAKE Solutions.
- Product Marketing: Although the product is successful in terms of sales, its positioning and unique selling proposition are not clearly defined, making it vulnerable to attack from competitors in this sector.
Opportunities for TAKE Solutions
Opportunities are potential areas for companies to focus on to improve results, increase sales, and ultimately profit.
- New Environmental Policy: New opportunities will create a level playing field for everyone in the industry. This is a great opportunity for TAKE Solutions, Inc. to realize the benefits of new technologies and gain market share in new product categories.
- New Taxation Policy: New tax policies can have a significant impact on the way TAKE Solutions does business and open up new opportunities for them to increase its profitability.
- Open New Markets Through Government Agreements: New technology standards and government free trade agreements provided to TAKE Solutions open up opportunities for TAKE Solutions to enter newly developed markets.
- New Customers Through Online Channels: The company has invested huge amounts of money in its online platform over the past few years. This investment opened up a new sales channel for TAKE Solutions. Over the next few years, companies will be able to seize this opportunity by better understanding their customers and meeting their needs through big data analytics.
- Economic Recovery: Economic recovery and rising consumer spending after years of recession and slow industrial growth are opportunities for TAKE Solutions to attract new customers and increase market share.
Threats to TAKE Solutions
Threats are environmental factors that can harm a company’s development. Here are some of TAKE Solutions’s threats:
- Legal Actions: The Company may face legal action in other markets given the continuing fluctuations in different laws and product standards in those markets.
- Fierce Competition: Strong profitability has increased the number of players in the industry over the past two years, putting downward pressure on overall revenue as well as profitability.
- Liability Laws: Vary from country to country TAKE Solutions may face a variety of liability claims as a result of these market policy changes.
- Quantitative Increases in Commodities: This could jeopardize TAKE Solutions’s profitability. A shortage of skilled labour in certain global markets threatens TAKE Solutions’s continued earnings growth in the market.
- Operates Globally: Because the company operates in many countries, it is exposed to currency fluctuations, especially given the unstable political environment in many markets around the world. This may face some challenges in the market and may result in some losses as well.
This ends our elaborative SWOT analysis of TAKE Solutions. Let us conclude our learning below.
TAKE Solutions is a well-known CRO company with significant global positions. During the SWOT analysis of TAKE Solutions, we found that the company is highly dependent and enjoys strong brand awareness and trust from its customers. It has a solid logistic base and covers all markets it serves, but suffers from more active research and development from an increasing number of manufacturers and competitors in the same space.
But being such a huge brand across multiple countries, TAKE Solutions should continue to innovate and develop more products and launch them in the market with the best possible marketing strategies.
Especially digital marketing which is vital in today’s growing and expanding world, to get better results and to remain competitive in the market. If you don’t have any idea of what digital marketing is or want to learn more about it and upgrade yourself, here is IIDE’s 3 Month Advanced Online Digital Marketing Course to know more.
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