SWOT analysis of Stakeholders
Odin Creations interacts with a very diverse group of internal and external stakeholders.
Internal Stakeholders
Communicating effectively with each other is essential. Kraig and Brian have varying interests and strengths and tend to view problems & solutions from different perspectives. Kraig is the design guy, the creator, in essence, the right brain. He’s the “wing it, we’ll work it out” guy. Brian is the organizer, the thinker, the left brain of the team. While Kraig is the master designer, he worries little of the financial side of the business. Brian on the other hand pays attention to the details, ensuring ordering, bill payment and scheduling are accurate. These differences make them ideal business partners, but may create conflict in planning and future direction. Learning to take advantage of their individual strengths while still considering the greater good of the company will be vital to their future success.
Imminent expansion will include hiring employees. Attracting people with the desired skill set and best company fit is crucial. Providing a flexible work environment with potential to advance will enable them to compete with employers able to offer a wider benefit package.
External Stakeholders
The customers of Odin Creations are in themselves a diverse group including home and business owners, dealers, builders, contractors, architects, and designers. Recognizing the key factor that entices each group to buy is critical. To the homeowner it may be cost while the business owner looks for functionality. Dealers need to know they are capable of filling orders and builders need them to be on time and on budget. Architects and designers will likely focus less on cost and more on design and creativity.
Being competitive in the residential market is difficult for Odin Creations as they are unable to secure product at the same cost as larger competitors. Design is one of their strengths but they do lack the technology to present it in a professional manner. A show room would show case their talent for customers looking for the experience as well as the product. These concerns are leading them to a more commercial focus. Dealers, architects and designers are able to show case their work for them. Their strength definitely lies within their flexibility and ability. While other cabinet makers tend to produce assembly line products, they are able to build to customer demand. They can compete with product and service, but possibly not with price.
Their experience in the industry allowed them to develop business relationships with suppliers quickly.
Building credit was more of a challenge; most suppliers initially insisted on cash payment. This forced them to stay on track of expenses and they have now established credit positions with most suppliers.
Outsourced work presented its own challenges. Larger manufacturers tend to have priority. This pushed them to review their options, be creative and find alternate (and sometimes better) sources for this work.

Government plays a small role at the present time. There is little regulation of this industry so other than filing GST, PST and income tax returns accurately and on time, they are of little significance.
Finding sources of capital has been difficult. Most lending institutions won’t issue operating loans or lines of credit to new businesses. CIBC were impressed by the financial statements and surprised they were able to extract wages in the first year. As a result they are forwarding numbers to the business development officer for consideration. In lieu of bank financing, they will look to alternate funding sources including venture capital. With no outside financing and the need to withdraw a salary, they have developed a lean attitude toward spending.
Competitors are an interesting stakeholder. Odin Creations is a custom builder; they are not held back by the standard cabinet sizes & designs of some of the larger, assembly line cabinet builders. Many commercial projects include custom millwork that is outside the realm of these builders. Flexibility is their strength.
Internal
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Each other
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Future employees
External
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Customers o Home and business owners o Builders and contractors o Architects and interior designers o Residential and commercial o Dealers
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Suppliers
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 o Wood, laminate and melamine products o Cabinet hardware o Equipment
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Outsourced work o Finishers o Installers o Door suppliers
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Government o Worker’s Comp o SK Finance o Revenue Canada
Lending Institutions
Competitors