Business Model and Strategic Plan Part II: SWOTT Analysis Paper
Felicia Reid
BUS/475
March 11, 2015
Mr. Tony Calloway
Business Model and Strategic Plan Part II: SWOTT Analysis Paper Select Comfort was established in 1987 in Minneapolis, Minnesota ("All About Us," 2015). They are best known for their Sleep Number beds, which branches from Select Comfort. The Sleep Number focuses to improve lives by getting great sleep on the best mattress. The Sleep Number strives to become the world’s most beloved brand. They are making progress towards this goal. The "Mattress Buying Guide" (2006-2015) website stated Select Comfort is listed in the top five best mattress company.
Economic, legal, and regulatory forces and trends
Select Comfort has redesigned their beds for the safety and well-being of their customers. They redeveloped the beds to be more sanitary. The mattress has been improved to ensure the material of the mattress does not promote growth for any mold or bacteria that may cause allergies or any other health related issues ("All About Us," 2015).
Critique how well the organization adapts to change Select Comfort initially started their business in another field, but ventured into the air mattresses in the 1980s, only after previous businesses failed. Like any other business, Select Comfort was not very profitable in the beginning. After several trial and error and reconstruction, they finally produced a mattress with exceptional qualities. Select Comfort is expanding at a rapid pace. In 1991, Founder Robert (Bob) Walker, sells controlling interest to a venture capital consortium ("Select Comfort Corporation History," 2000). Select Comfort added retail stores in 1992. In 1996, the 100th store is added and all together, they exceed more than a $100 million in sales ("Select Comfort Corporation History," 2000). In 1999, they released their initial public offering (IPO) and established an e-commerce subsidiary, the first major mattress company to accomplish this ("Select Comfort Corporation History," 2000). As of 2013, they have more than 2,800 employees, generated over 960 million in revenue, and open ten stores, which brings the total to 440 locations ("Company: Select Comfort Corp. (select Comfort)," n.d).
Analyze and explain the supply chain of the new division of the existing business. Select Comfort handles every aspect of the business for the production of their mattresses. They designs, manufactures, and markets all of their line of mattresses at their place of business ("All About Us," 2015). The Sleep Number beds travel through a pool of tests to ensure all standards are met. All process are monitored to