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Ernst & Young International (SWOT Analysis)

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“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

Ernst & Young International

Ernst & Young (E&Y) is a privately held provider of accounting and auditing, tax reporting and operations, tax advisory, and business consulting services. The company operates in around 140 countries in Americas, Europe, Asia and Africa. Ernst & Young is headquartered in New York City, New York and employs 135,730 people.

Strengths, Weaknesses, Opportunities and Threats (SWOT)

Location of Factor

TYPE OF FACTOR

Favorable

Unfavorable

Internal

Strengths

  • New organizational structure strengthening competitive edge
  • Extensive global reach and wide range of services sustaining momentum revenue
  • Good liaison with the US government helps in winning repeat business

Weaknesses

  • Higher dependence on Fortune 500 and other quasi government clients affecting audit fee income
  • Regulatory fines may tarnish image

External

Opportunities

  • Addition of Mitchell & Titus firm likely to generate higher business in the US
  • Ernst & Young likely to benefit from growth prospects in emerging markets
  • Early adoption of IFRS standards could spur demand for E&Y’s services
  • Increasing spending on infrastructure likely to spur demand for E&Y’s services

Threats

  • Easing regulatory restrictions could foster competition
  • Valuation of auction rate securities – could shift the demand away from Big Four
  • Global economic slow down could affect consulting business
  • Increasing incidence of accounting scandals likely to shift the demand away from Big Four
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