Neurotechnology

Introduction. Company characteristics. Brief history. Products and services. Business model and current markets. Financial profile. Competitors. “Neurotechnology” analysis in Lithuania. External and internal environment factors analysis. Swot analysis. Tows analysis. Pest analysis. “Neurotechnology” analysis in Sri Lanka. Swot analysis. Tows analysis. Pest analysis. Conclution. References.

Tasks: perform analysis of business development in two countries. Present SWOT, TOWS and PEST analysis of “Neurotechnology”.

Abroad this company is more known than in Lithuania, because most of production are exported, however, due to the low awareness of the company the owner Algimantas Malickas is not worried, he said that to be known in Lithuania it is not so important.

This company has distributors, representatives and offices all over the world. There are more than 30 distributors and 4 representatives. List of some distributors: Argentina, China, Japan, Korea, Vietnam, UK, USA, South Africa, Greece, Mexico, and representatives are in Sri Lanka, China, USA, Argentina and Venezuela.

"Neurotechnology" Technology has gone to about a hundred countries. In 2010, in Poland was completed installation of biometric passport system- in 130 passports subdivisions introduced fingerprint verification measures – all that was made by using Lithuanian created using fingerprint recognition algorithm. By the way, in the projects directly Lithuanian company does not participate - it sells so-called technology companies integrator, which applies the Lithuanian product in practice. It is surprising that there are a lot of integrating business in the world, and such as "Neurotechnology", which are developing algorithms - less than twenty.

In Lithuania created biometric technologies was purchased by American soldiers who used them to create a database of terrorists. These technologies are also used by criminalists and even London nightclubs.

I am going to shortly present “Neurotechnology” business model using canvas presentation. There will be 9 parts:

Talking about current market, “Neurotechnology” is one of more or less 20 similar companies in the world, so from this part I can say that “Neurotechnology has strength, because there is not many competitors. As I said there are not many companies like “Neurotechnology” which provide algorithms and software development products, but there are many companies which uses company’s like “Neurotechnology” services or products and develop something that they sell.

All financial statements are confidential, but I have found company’s financial turnover from 2008 to 2015 years. The biggest turnover was in 2013 and 2014, that was about 3-5 million euros.

The best way to assess a company's internal state is a SWOT analysis. It sets out the advantages of the use of the company has over the competition, weaknesses, which used the company's competitors can weaken it to gain an advantage, opportunities for improvement and threats to watch out and try to avoid it. Company internal characteristics shows advantages and disadvantages, and external environmental factors describes and shows the opportunities and threats.

A varied and broad product offer. A high standard of production. Many years of work experience. New technologies. Uniqueness. Solution partner programs

We discuss the main external factors that affect the core of our business in Lithuania.

Lithuanian economy is one of the rapidly growing among European Union countries.