Dfk & Company Swot Analysis

778 Words 4 Pages
Audit firms of different sizes have to utilise its resources in different ways in order to establish themselves in niche markets and sustain a competitive advantage. Folks DFK & Co as a medium sized audit firm is able to compete with other small and medium sized audit firms to serve clients from small companies to public listed companies. The major issue faced by the firm is lacking of advance technologies and IT infrastructure due to its lacking of economies of scale and financial resources. If the firm is able to continuously invest in its human capital and technology resources, it is able to grow faster and sustain competitive advantage

Several suggestion are provided for the firm to better improve and compete in the market through overcome its weaknesses.
a. Invest in firm's branding
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With strong brand, it can attracts more suitable candidates to apply for the job and thus successfully recruit talented staff. Besides, customer base will also increase with stronger brand name as it is perceived that a positive relationship with brand name and quality of service provided.

b. Talent retention strategies
Due to the firm's status as the authorised training employers, it has successfully attract talented and competence candidates to work with the firm. However, some of the talented staff might decide to leave the firm and go to larger firm for greater career exposure. In order to prevent the losing of talented staff after the huge amount of cost and time invested in those staff, the firm should come out with some talent retention strategies to make sure they stay.

Since employees are the most valuable asset of an audit firm as it is a labour intensive industry. The success of a professional service firm is highly depending on its ability to recruit and retain talented staff. Several suggestions are recommended for retention of talented

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