Reliance is one of the most profitable and reputed industries in the world. Dhirubhai ambani founded it in 1966. Mumbai is its headquarters. The company is involved in a wide range of products, including energy, petrochemicals and natural gas. It also deals with retail, entertainment, mass media, telecommunications, telecommunications networks, and telecommunications. Mukesh Ambani is the son of Dhirubhai Ambani. The company’s annual turnover is more than 90 billion dollars. The motto of the company is: “Growth Is Life”. This company has received many awards.
- India’s best employers among nation builders 2022
- Interbrand’s “Best Indian brands 2023” in which the company achieved 2nd place.
- India’s most sustainable companies” for 2022
- Best Indian Brands for 2023
In 2020, the company will be listed in Fortune 500 as one of the top 100 companies in world. This company is known to even the average Indian. It has a very strong network. This company has recently announced that it will enter the Green Energy Business by 2025.
What is SWOT analysis?
Swot Analysis is an analytical tool that helps companies identify their strengths, weaknesses, opportunities, and threats.
Swot Analysis of reliance Industries Limited
Strength
- Brand awareness- One of the biggest strengths of reliance is that even villages are aware of its products. This company has launched the Jio Mobile to attract the less-privileged section of the society.
- Market share – This company has a significant amount of market shares in various sectors such as telecom, petrol and retail.
- Reliance Company upgrades its technology periodically. Reliance also upgrades its products, such as mobile phones and brings in 4G speed.
- Reliance opened a number of shops in the areas of Consumer Electronics, Groceries, Jewelries, Jio-Mart, and Jewelries.
- Reliance Company creates value out of waste materials.
- Meeting Global Demand – The company strives to meet global demand on time.
- Take care of the employees’ welfare – Companies should take care of the employees and ensure that they have the best working environment.
- Brand reputation – This company enjoys a good reputation as a brand.
Weakness
- Reliance’s petrochemical, refining and petrochemical businesses are heavily dependent on global oil prices. Prices are constantly changing.
- Changes in the Economy- A company must change its taxation policies and the price of their product. The rise in raw material prices leads to a decrease in the demand for the product.
Opportunity
- Expanding on the global market – A company should expand internationally by working with local companies. They can expand their network.
- Digital Promotion – The company must aggressively promote on TV and social media platforms, resulting in a significant increase in sales.
- JIO Broadband – Jio Broad bands have issues, which is why customers are switching to other internet providers. The company should focus as soon as possible on improving its broadband connection.
- Reliance retail stores- Retail shops for reliance have seen a great increase in recent years. The company should try to concentrate on this and open more shops in rural areas, urban areas and abroad.
Threat
- Competition- the main threat to reliance is its competitors.
- Adani Company- This company offers a wide range of products, including logistics, infrastructure and agribusiness.
- Amazon India
- Vodafone
- Bharat petroleum Corporation Limited
- Tata Group
- New technology on the market- Today, new technology is being introduced to the market every day. If the company cannot upgrade, it will lose market share.
- Global Changes- The change in the foreign currency and economic policies leads to profits and the downfall of a company.
Swot analysis can be very useful and essential for any company. It assists the company in making marketing strategies and plans. It helps to eliminate the weaknesses of the company. Reliance is taking the necessary steps to counter its weaknesses and threats as outlined in a swot report, such as opening more retail stores. Despite the fact that the company has some weaknesses, it enjoys a strong reputation in the market. The company has a strong cash flow, and it uses this cash to expand its business. Forbes Magazine ranked Reliance Industry 17th in the international market for the year 2000. In the future, reliance companies are expected to be the leading company in telecoms and petroleum products around the globe.
