Business Overview of Amway Essay Example | Topics and Well Written Essays - 1250 words

Business Overview of Amway - Essay Example This has been a prudent approach in business as it has enhanced its performance all over the world (Jones 23). Apparently, the company has been recording a positive growth over the last seven years. In the recent reported sales, it was declared that the company made sales amounting to over 11 billion USD. This shows that it is a company that is on the helm of attaining greater performance. According to Forbes, the company was ranked as one of the largest private companies in the United States clinching number 25 in 2012. Similarly, Deloitte ranked it number 114 among the largest global retailers in the year 2006. Market Advantages. Amway is a company that has been appreciating a larger market share with each passing year. This poses an advantage to the company as it accrues greater sales. This is a market advantage for the company as it increases its sales (Deangelo 12). Due to globalization, the company has spread its company affiliations in many other countries. This is an added ad vantage as it gets greater demand for its products. For instance, the company has spread its market share in over 100 countries and territories in the world. This creates a substantial demand for its products since there are many people that will create a demand for the products in all these countries. Similarly, the approach of using other companies to sell its products has been to the advantage, since it has many retailers and outlets (LLC Books 13). This creates a large supply chain of the products all over the market. As such, the company continues to make greater sales, which is an advantage over other retailers in the market. Amway is a company that has substantial amounts of capital for investments, mergers and takeovers. As such, it has the resources that are needed to extend its market share. This has made it possible for the company to make international expansion. This poses an advantage to the company as it increases the demand market for its products. When there is suff icient capital, the business makes initiatives of investing in providing other products that enhance its performance. Similarly, the company has a vital resource which is labor (Jones 32). It has more than 20, 000 employees who are vital in fostering development. With such a large number of employees, the company is likely to make a positive accrual in its business. This is due to the efficient and sufficient labor that is available. This states the reason why the business has been marking an improving in a seven year streak. Amway is headed by a competent management team. The performance of a company is dependent on the management team. Therefore, a company that has a competent management team is likely to make greater performance in the market. This is one of the strategies that are used by Amway (LLC Books 11). Through the leadership of Andel and Devos, the company has been able to incorporate a perfect management team that deals with its operations. As such, the company has been making positive performance and an improvement over time. Similarly, it has its headquarters in Michigan, which is a strategic place. This makes operations easier as the company focuses more on making an improvement. Branding. A business is determined by the performance of its brands in the market. Strong brands in the market reflect a positive accrual to a business as they attract a larger market niche. To begin with, Amway has a number of well performing brands in the m