ManagementDynamics,16(2),6271,2012

SWOT ANALYSIS OF LEATHER SHOES

MARKETS IN NEPAL

Sajeeb Kumar Shrestha

Teaching Assistant (MBS, M.Phil.)
Shanker Dev Campus, TU

Abstract: This study aims to analyze the SWOT analysis of leather shoes markets in Nepal. It
is used a convenient sample of 12 including proprietors, chairman, directors and other
officers of different Nepalese leather shoes companies who have participated on workshop
program organized by MOI (Ministry of Industry) and LFGMN (Leather Footwear and
Goods Manufacturer' Association of Nepal) on Nagarkot, Kavre. Reliability analysis,
descriptive statistics and ranking were used to check the reliability, summarize and rank the
data. It is found that leather shoes markets are affecting from threats, weakness, strength,
opportunities and are ranked first, second, third, and last respectively. It means there are
more threats in the leather shoes markets but there are also strengths and opportunities to
pursue the opportunities. Internal environmental factors are dominantly affects on
performance of leather shoes companies than external environmental factors. It is clearly
advised that competitive strategy should be formulated to capture the opportunities, increase
the strengths, and to reduce the weakness and lessen the threats.
Keywords: Leather shoes, SWOT analysis.
Paper type: Research Paper.

ManagementDynamics,16(2),6271,2012
1. Introduction
SWOT is a framework for analysing strengths, weaknesses, opportunities and threats. It has
been developed as a simple yet effective method for analysis within the strategic planning
process. Within this process, however, the SWOT analysis is neither the first nor the last step.
It has been based on a sound knowledge about the present environment and trends as well as
internal resources. SWOT analysis is synchronised with the best cast into a business mission
statement defining, the market and the customer aspects, the distinctive competence that is to
be built, the social and environmental standards to be respected, and /or other factors
according to the priorities of management and owners.
A SWOT analysis is a technique commonly used to assist in identifying strategic direction for
an organization or practice. It is preferred for the present work as it yields useful information
about the future viability of the considered system. One can assume that organizational
environment is composed of many elements which organizations deal with and form complex
cause-and-effect type of relationships with. Environment can also be divided into two
categories. The first category implies the external environment which contains all changes
that take place outside the organization's boundary such as economic, political, cultural, and
technological changes upon which organizations have little impact. The second category has
to do with internal factors within an organization in various areas such as management,
culture, finance, research and development, staff, operational efficiency and capacity,
technical frameworks, and organizational structure.
SWOT analysis refers to the process through which decision makers develop their awareness
of organizational environments so as to influence performance now and in the future
(Naryanan & Nath, 1993).
SWOT analysis can help organizations develop an early alarming system that take into
considerations all necessary preparations before possible threats rise, and implement capable
strategies to face such threats and minimize their negative consequences. In this regard,
Thompson (1990) suggests that strategy makers should consider the following scheme while
implementing SWOT analysis:
Determining the most important factors and reasons for selecting such factors.
Forecasting changes that might influence the mentioned factors.
Aligning of all forecasts.

ManagementDynamics,16(2),6271,2012
Undertaking reality and honesty in assessing competitors' strengths and weaknesses as well
as their own organization.
Environmental diagnosis refers to the process of predicting the importance of information we
get out from SWOT analysis (Glueck & Jauch, 1988). This process is subject to the influence
of two factors. First, the characteristics of strategy makers which include their experience,
ambition, perception style, and the psychological state during the diagnosing operation.
Second, the nature of strategy makers' type of work which includes time pressure and work
tension, availability of organizational resources, the importance of decision making, the
abundance of time allocated to this function, and whether managers are occupied with other
activities or not.
2. Statement of the Problem and Literature Review
Strategic management has been widely used by all enterprises to withstand fierce market
competition. The strategic management process consists of three stages: strategy formulation,
strategy implementation, and strategy evaluation (David, 1998). SWOT analysis of external
opportunities and threats as well as the internal strengths and weaknesses of the enterprises is
important for strategy formulation and development. The purpose of the analysis of external
opportunities and threats is to evaluate whether an enterprise can seize opportunities and
avoid threats when facing an uncontrollable external environment, such as fluctuating prices,
political destabilization, social transition, change in the rule of law, etc. The purpose of the
analysis of internal strengths and weaknesses is to evaluate how an enterprise carries out its
internal work, such as management, work efficiency, research and development, etc. If used
correctly, SWOT can provide a good basis for successful strategy formulation.
No research was done to cover the issues on SWOT analysis of leather shoes markets in
Nepal. The research has tried to express the impact of strength, weakness, opportunity, threat
as well as external factors and internal factors on leather shoes markets in Nepal.
This study addresses the following research questions:
- What are the areas of opportunities and threats in Nepalese leather shoes markets?
- What are the areas of strengths and weakness in Nepalese leather shoes markets?
- Which external environmental factors or internal environmental factors are dominant in
Nepalese leather shoes markets?
This study aims to achieve the following objectives:

ManagementDynamics,16(2),6271,2012
- To identify the area of opportunities and threats in Nepalese leather shoes markets.
- To analyze the strength and weakness in Nepalese leather shoes markets.
- To measure the influence of external environmental factors and internal environmental
factors.
The origins of the SWOT analysis technique is credited by Albert Humphrey, who led a
research project at Stanford University in the 1960s and 1970s using data from many top
companies. The goal was to identify why corporate planning failed. The resulting research
identified a number of key areas and the tool used to explore each of the critical areas was
called SOFT analysis. Humphrey and the original research team used the categories What is
good in the present is Satisfactory, good in the future is an Opportunity; bad in the present is
a Fault and bad in the future is a Threat. This was called the SOFT analysis. In 1964 Urick
and Orr at a conference changed the F to a W, and it has stuck as that, SOFT to SWOT
(SWOT Analysis Slovak Republic, 2009).
SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats, and perhaps the
most well known approach for defining strategy (Zach, 1999). It is used to analyse these four
factors that either apply to a business or to an organisation. The technique is mainly used for
a analysing a companys internal capabilities (i.e. strengths and weaknesses) in relation to the
competitive environment (i.e. opportunities and threats) (Avison & Fitzgerald, 1996). This
study basically focuses on SWOT factors.
Opportunities and Threats
Literature definitions of threats and opportunities are viewed in the following two sections.
Opportunities: Opportunities are defined as a set of conditions suitable for achieving goals
at the right time. We thus can define opportunity as a positive state that gives organizations
some kind of relative advantages, or an environmental approach that positively influences
firm's profits.
According to Peter Drucker (cited in Rousan & Qawasmeh, 2009) opportunities can be
divided into three types: added opportunity where investment in this type does not impact the
nature and characteristics of the organization such as using the available resources to expand,
where revenues from this type of investment are limited. The second type is the
supplementary opportunity where organizations have to acquire new knowledge to take
advantage of this opportunity. The third type is the explosive opportunity where

ManagementDynamics,16(2),6271,2012
organizations must own huge capital to spend on R&D. By exploiting such opportunities
organizations must carry out tremendous changes in organizational standards and attributes.
Threats: A threat is defined as any improper event or force in the external environment that
causes harm to the organization's strategy (Rowe, 1994). It also can be viewed as a challenge
caused by a negative attitude inconsistent with the organization's common norms. It is also a
set of conditions, resources and capabilities that organizations need or pressured to work
with, but can not influence or have control over it. The above mentioned threats and
opportunities can achieve the following results (Kotler, 1997):
Ideal activities tend to have high states of opportunities and low states of threats.
Risk activities tend to relate to high states of threats and opportunities.
Mature businesses are low in risks and opportunities.
Turbulent environments are low in opportunities and high in threats.
Strengths and Weaknesses
Strengths and weaknesses are viewed as results of factors and variables that can be controlled
within organizations which may be good or bad. If results are satisfactory, then this will
reflect the strength of one organizational factor or more; while if they are poor and
unsatisfactory, then this will prove that some organizational factors are weak.
Strengths: It represents the internal power that an organization possesses to compete against
its rivals (Sharplin, 1986). It also represents organizational capabilities and internal positive
attitudes that enable organizations possess strategic power to achieve organizational goals.
While others view organizational strengths as skills and abilities that enable organizations set
out and implement their strategies so as to outperform their rivals (Barney & Griffin, 1992).
Weaknesses: Weaknesses represent organizational aspects that negatively impact product
and/or service value with regards to customers or competitive environment. Weakness also
represents shortages in internal capabilities that make organizations unable to achieve their
goals or loose their competitive advantage.
Wizardry of SWOT
The wizardry of SWOT is the matching of specific internal and external factors, which
creates a strategic matrix, which makes sense. (Note: The internal factors are within the
control of your organization, such as operations, finance, marketing, and in other areas. The
5

ManagementDynamics,16(2),6271,2012
external factors are out of your organization's control, such as political and economic factors,
technology, competition, and in other areas). The four combinations are called the MaxiMaxi

(Strengths/Opportunities),

Maxi-Mini

(Strengths/Threats),

Mini-Maxi

(Weakness/Opportunities) and Mini-Mini (Weaknesses/Threats) explained in Table 1.

Maxi-Maxi (S/O): this combination shows the organization's strengths and opportunities. In
essence, an organization should strive to maximise its strengths to capitalise on new
opportunities (Weihrich, 1982).
Maxi-Mini (S/T): this combination shows the organization's strengths in consideration of
threats, e.g. from competitors. In essence, an organization should strive to use its strengths to
parry or minimise threats (Weihrich, 1982).
Mini-Maxi (W/O): this combination shows the organization's weaknesses in tandem with
opportunities. It is an exertion to conquer the organization's weaknesses by making the most
out of any new opportunities (Weihrich, 1982).
Mini-Mini (W/T): this combination shows the organization's weaknesses by comparison
with the current external threats. This is most definitely defensive strategy, to minimise an
organization's internal weaknesses and avoid external threats (Weihrich, 1982).
Table 1: SWOT Matrix
Strength

Weakness

Opportunities

S/O

S/T

Threats

W/O

W/T

Maharjan investigated on measuring competitive position of insurance industry in Nepal

through SWIOT analysis. Maharjan (2012) found that the non-life insurance group, the mean
score of strengths, threats, opportunities, and weaknesses are ranked first, second, third, and
last respectively whereas the mean score of strengths, opportunities, threats, and weaknesses
are first, second, third, and last respectively in the life insurance industry. The study has
found that both non-life and life insurance industry has high effect of strengths and low effect
of weaknesses.
2.

Research Methodology

This study investigates the SWOT analysis of leather shoes markets in Nepal. The research
design of this study is descriptive as well as analytical research. This study is based on
6

ManagementDynamics,16(2),6271,2012
primary data only. Primary data were obtained from questionnaire administered for
measuring strength, weakness, opportunity and threats and external environmental factors and
internal environmental factors.
Quantitative methods or survey research is applied for this study. Direct responses of the
respondents were taken. Data were generated in five point likert scale anchored by Strongly
Disagree = 1 to Strongly Agree =5.
The population of the study is workshop participants. The workshop program was organized
by Government of Nepal, Ministry of Industry and Leather Footwear and Goods
Manufacturers' Association of Nepal (LFGMN) on the topic 'Workshop on entrepreneurship
development management program for youth entrepreneurs' in Hotel Country Villa,
Nagarkot, Kavre on dated 19-20 April, 2012 (7-8 Baishakh, 2069). All 25 to 30 proprietors,
chairman, directors and other officers of different leather shoes companies were participated
to the program. The researcher has been invited as a resource person to give presentation on
'Brand Management' and 'Consumer Relationship Management'. The researcher has got an
opportunity to interact with these personalities. The researcher has distributed 30
questionnaires to them. But only 12 questionnaires were returned successfully, having 40
percent of response rate only.
The final version of the questionnaire was made up (i) evaluation of four SWOT variables (ii)
external environmental and internal environmental variables and (iii) demographic questions.
Reliability analysis was done to check the scale item's reliability (George & Mallery, 2009).
Descriptive statistics like mean and standard deviation were used for summarising the data.
Ranking is used to categorize the scale items and overall score of the variables. The result of
analysis has been properly tabulated, analyzed and interpreted. Databases such as SPSS 18.0,
and Excel 2002, were used for this research.
This study was limited to establishing the SWOT analysis of leather shoes markets in Nepal.
-

The study is based on the data available from the self administered questionnaire methods
among the respondents.

Convenience sampling is taking for participation.

Data are primary in nature.

ManagementDynamics,16(2),6271,2012
Table 2: Respondents from Leather Shoes Companies
S.N.
Companies
1
Dhananjay Footware
2
Fitwell Shoes Industries Pvt. Ltd
3
Makalu Footware
4
N J Footware
5
New Lotus Footware
6
Prasamsha Footware
7
Shikhar Shoes Industries Pvt. Ltd
8
Sky Shoes Industries Pvt. Ltd.
9
Subhalabh Footware
10
Typical Footware
11
Utsav Footware Industry Pvt. Ltd

Profile of the Respondents

The profile of 12 respondents in the study is summarized in table 3.
Demographic
Gender

Table 3: Respondents Profile

Categories
Frequency
Male
Female
Total

Age

20-30 yrs
30-40 yrs
40-50 yrs
50 and above

Qualification

Postgraduate
Graduate
Undergraduate

Designation

Chairman
Director
Proprietor
Others

Total

Total

Total

Percentage
12
0
12
2
5
4
1
12
2
9
1
12
1
2
3
6
12

100
0
100
16.7
41.7
33.3
8.3
100
16.7
75.0
8.3
100
8.3
16.7
25.0
50
100

The study indicates that all the respondents are male.

Majority of the respondents are 30-40yrs of age with a steady percentage of 41.7 percent,
33.3 percent of the respondents fall between the age of 40-50years old, whereby 16.7 percent
are in the range of 20-30years old.
Most of the respondents are graduate level qualification with the percentage at 75 percent,
post graduate level respondents at 16.7 percent and undergraduate level respondents at 8.3
percent.
For designation, one chairman, two directors, three proprietors and others officers are six
numbers participated in this study.

ManagementDynamics,16(2),6271,2012
3.

Results and Discussion

3.1

Reliability Analysis

The reliability of used measurement scales were tested using Cronbach's alpha coefficient.
Code
S
W
O
T
IEE
IIE

Table 4 Reliability Analysis

Particulars
Cronbach's Alpha
Strength
0.824
Weakness
0.661
Opportunities
0.701
Threats
0.604
External Environmental Factors
0.693
Internal Environmental Factors
0.890

Table 2 shows the results of reliability of measurement scales was used for SWOT analysis.
The applied measurement scales exhibits satisfactory levels of reliability. For strength
variables (S), all the six items were accepted to increase the value of the measurement. For
weakness variable (W), all the nine scale items were accepted to increase the value of the
measurement. For opportunity variable (O), all the seven scales items were accepted to
increase the value of the measurement. Four scale items T1 (Number of new leather shoes
companies are increasing in the country), T2 (The company has to sustain in global
competition market), T6 (Political instability has challenged the business), and T7
(Bargaining power of customers has been increasing) among seven items were eliminated
from Threats variables (T). Two scales items EE4 (Technology has greater impact on the
firm) and EE5 (Legal has greater impact on the firm) among five scale items were eliminated
from impact of external environmental factors on the firm (IEE). All the six items were
accepted to increase the value of the measurement in impact of internal environmental factors
on the firm (IIE).
3.2

Descriptive Statistics

Strength variable (S): Leather shoes companies have the highest mean score of strength
variable shown by S1(Brand name of this company is popular in the market) is 4.17 with
corresponding standard deviation 0.84. The lowest mean score of strength variable shown by
S5(The company has working environment with computerized system) is 2.42 with
corresponding deviation 1.51.
Weakness variable (W): Leather shoes companies have the highest mean score of weakness
variable shown by W3(The company has captured a limited market) is 4.08 with
corresponding standard deviation 1.17. The another strong variable is W6(The company has
problems in accepting global changes) is 4.08 with corresponding standard deviation 1.17.
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ManagementDynamics,16(2),6271,2012
The lowest mean score of weakness variable shown by W8 (The company has problems in
tedious documentation process) is 3.0 with corresponding deviation 1.41.
Opportunities (O): Leather shoes companies have the highest mean score of opportunities
variable shown by O7(Public awareness towards Nepalese leather shoes has been growing) is
4.58 with corresponding standard deviation 0.90.
The lowest mean score of opportunities variable shown by O1 (The company has been doing
business in global market) is 1.58 with corresponding deviation 1.38.
Threats (T): Leather shoes companies have the highest mean score of threats variable shown
by T5(Economic recession is challenging in the business.) is 4.58 with corresponding
standard deviation 0.52.
The lowest mean score of threats variable shown by T4 (Rivals have created new marketing
strategies.) is 3.83 with corresponding deviation 1.03.
Impact of External Environmental factors on the firm (IEE): Leather shoes companies
have the highest mean score of impact of external environmental factors on the firm (IEE)
variable shown by IEE3(Impact of socio-culture) is 3.0 with corresponding standard
deviation 1.21.
The lowest mean score of impact of external environmental factors on the firm (IEE) variable
shown by IEE1(Impact of political instability) is 1.25 with corresponding deviation 0.45.
Impact of Internal Environmental factors on the firm (IIE): Leather shoes companies
have the highest mean score of impact of internal environmental factors on the firm (IIE)
variable shown by IIE5(The company has maintained good customer relation) is 3.92 with
corresponding standard deviation 1.78. The another strong variable is IIE6(The company
management system is well) is 3.92 with corresponding standard deviation 1.24.
The lowest mean score of impact of internal environmental factors on the firm (IIE) variable
shown by IIE(The company has capital adequacy) is 2.33 with corresponding deviation 1.49.

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ManagementDynamics,16(2),6271,2012
3.3

SWOT Matrix:
Table 5: SWOT Matrix of Leather Shoes Markets in Nepal
Strengths

Mean

Rank

Weaknesses

S1. Popular brand name

4.17

W3. Captured a limited market.

4.08

S3. Competent and reliable human resources

3.83

W6. Problems in accepting global changes.

4.08

S4. Strong financial position.

3.42

W5. Facing obstacles in computer system.

3.67

S6. Huge market coverage

3.33

W7. Centralized decision making.

3.5

S2. Large number of branches.

2.58

W1. Limited number of employees.

3.42

S5. Computerized working environment

2.42

W2. Unfamiliar staff.

3.08

3.29
Mean

Rank

W4. Conflict in top level management.

3.08

W9. Old software.

3.08

W8. Tedious documentation process.

Overall Average
Opportunities

Mean

Overall Average
Threats

Rank

3.0

3.44
Mean

Rank

O7. Public awareness

4.58

T5. Economic recession.

4.58

O6. Competitive advantages in the business

4.42

T3. Consumers awareness

4.33

O4. Installation of modern technologies.

3.25

T4. Rivals marketing strategies

3.83

O2. Sufficient fund.

2.92

O3. Expand branches across country.

2.67

O5. Fulfil demand of leather shoes.

1.83

1.58

O1. Doing business in global market.

Overall Average

3.04

Overall Average

4.25

Where,
M = Mean score of the statements
R = Rank of the mean score

Table 3 depicts that leather shoes companies have the highest mean score of strengths
variable showed by "Brand name of this company is popular in the market" and ranked first.
The lowest mean score of strengths variable showed by "The Company has working
environment with computerized system" and last sixth as last.
The highest mean score of weaknesses variable showed by "The Company has captured a
limited market" and ranked first. The lowest mean score of weaknesses variable showed by
"The Company has problems in tedious documentation process" ranked ninth as last.
The highest mean score of opportunities variable showed by "Awareness of public has been
growing toward leather shoes" and ranked first. The lowest mean score of opportunities
variable showed by "The Company has been doing business in global market" ranked seventh
as last.
The highest mean score of threats variable showed by "Economic recession is challenging in
the business" and ranked first. The lowest mean score of threats variable showed by "Rivals
have created new marketing strategies" ranked third as last.

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ManagementDynamics,16(2),6271,2012
Table 6: Impact of External and Internal Environmental Factors on the Firm
External Environment

Mean

Rank

Internal Environment

Mean

Rank

IEE3. Socio-culture

3.0

IIE5. Costumers relation

3.92

IEE2. Economic downturn

2.0

IIE6. Management

3.92

IEE1. Political instability

1.25

IIE3. Tools and equipments

2.92

IIE4. Communication

2.82

IIE2. Human resources

Overall Average

IIE1. Capital adequacy

Overall Average

2.08

2.5

2.33
3.07

Where,
M = Mean score of the statements
R = Rank of the mean score

Table 4 shows that the highest mean score of impact of external environmental factors on the
firm (IEE) variable showed by "Impact of socio-culture" and ranked first. The lowest mean
score of impact of external environmental factors on the firm (IEE) variable showed by
"impact of political instability" ranked third as last.
The highest mean score of impact of internal environmental factors on the firm (IIE) variable
showed by "Good customer relation" and ranked first. The lowest mean score of impact of
internal environmental factors on the firm (IIE) variable showed by "Capital adequacy"
ranked sixth as last.
3.4

Rank of Overall Mean of SWOT Factors

Table 7: Rank of Impact of External and Internal Environmental Factors on the Firm
Rank
Particulars
Mean
Std. Deviation
Threats
4.25
0.65
1
Weakness
3.44
0.77
2
Strength
3.29
1.07
3
Opportunities
3.04
0.79
4

Table 5 shows that mean score of strengths threats variable is 4.25 (i.e., 4.25 > 3) which is the
highest out of the four variables. So, it is ranked first. That means leather shoes companies
have been facing severe threats.
The mean score of weakness variable is 3.44 (i.e., 3.44 > 3) which is ranked second. It is
greater than 3 score (i.e., neutral). So, the leather shoes companies have also high weakness.
The mean score of strength variable is 3.29 (i.e., 3.29 > 3) which is ranked third. It is more
than 3 score (i.e., neutral). So, leather shoes companies have also high strength.
The mean score of opportunities variable is 3.04 (i.e., 3.04 < 3) which is ranked fourth and
last. It is above than 3 score (i.e., neutral). So, leather shoes companies have also high
opportunities.
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ManagementDynamics,16(2),6271,2012
3.5

Rank of Overall Mean of SWOT Factors

Table 8: Rank of Overall Mean of SWOT Factors
Particulars
Mean
St. Deviation
Internal Environment
3.05
1.15
External Environment
2.08
0.75

Rank
1
2

Table 6 expresses that the mean score of internal environmental variable is 3.05 (i.e., 3.05 <
3) which is ranked first. It is above than 3 score (i.e., neutral). So, leather shoes companies
have been highly affected from internal environmental factors.
The mean score of external environmental variable is 2.08 (i.e., 2.08 < 3) which is ranked
second or last. It is below than 3 score (i.e., neutral). So, leather shoes companies have been
least affected from external environmental factors.
3.6

Major Findings
Brand names of leather shoes are very popular in the markets. Company has competent
and reliable human resources. Company has strong financial position. But the companies
have captured a limited. They have problems of adapting global changes.

Public Awareness is growing toward leather shoes. They are increasing competitive
advantage in the business. But, economic recession creates challenges to the business.
Rival companies are making competing marketing strategies.

Leather shoes companies have high effect of threats, weakness as well as strength and
opportunities are also seen in these sectors. This explains that there are threats in the
leather shoes business but there is opportunities and strength also available. If we are able
to increase our strength strategically we are able to capture the opportunities.

Mean score of threats, weakness, strength and opportunities are ranked first, second,
third, and last respectively. No matter whatever the rank but we always have to think
about opportunities and strengths that are above the neutral value (i.e., 3) so good strategy
should be made to skim the opportunities from the leather shoes markets.

Internal environmental factors have highly affecting on performance of leather shoes

companies rather than external environmental factors.

4. Conclusion
The SWOT analysis is an extremely useful tool for understanding and reviewing the
companys position prior to making decisions about future company direction or the
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ManagementDynamics,16(2),6271,2012
implementation of a new business idea. In this study, SWOT analysis is used to analyze the
impact of strength, weakness, opportunity and threat variables as well as external and internal
environmental factors contribution to leather shoes companies are also considered.
It is found that leather shoes markets are affecting from threats, weaknesses, strengths, and
opportunities are ranked first, second, third, and last respectively. There are more threats in
the leather shoes markets but there are also strengths and opportunities to pursue the
opportunities.
Internal environmental factors are dominantly affects on performance of leather shoes
companies than external environmental factors.
This study has given contrast result from Maharjan (2012) that all the strength, weakness,
opportunities and threat variable has high impact on leather shoes companies' performance.
It is clearly advised that competitive strategy should be formulated to capture the
opportunities, increase the strengths, and to reduce the weakness and lessen the threats.
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