Analysis of Dajiang Innovation's (DJI's) Development Based on SWOT Model
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The civilian drone industry has developed rapidly since 2015, drones have gradually received more and more attention from the public. According to a report released by DRONEII in 2019, Dajiang Innovation, along with other six Chinese companies, were among the top 20 commercial drone manufacturers in the world. DJI, as the No. 1 drone company, now has become a leader in the global consumer drone industry through innovative ideas and highquality and well-designed products. It also made 'made in China' win recognition from all over the world. This paper attempted to find out the crucial factors that contributed to DJI's rapid development and success. Then it provided some suggestions to small and medium enterprises (SMEs) and entrepreneurs in the early stage of entrepreneurship. Based on the SWOT model and life cycle theory, this study divided DJI's 16 years of development into three stages: initial start-up stage, stage of stable development, and breakthrough stage. At the initial start-up stage, DJI concentrated on product research and the development of consumer-grade drones, which helped the company find the proper market. In the second stage, because of the optimistic drone market prospect, more and more companies entered the market and the competition becamefiercer. At a breakthrough stage, DJI has gone further in the field of product-based value-added services to expand the market, for example, DJI applies its product to agriculture, energy, public safety, etc. However, DJI officials didn't have a listing plan in the short term; as a result, the capital will be a challenge in the process of new product design. Finally, through the above analysis and conclusions, some advice will be provided for SMEs. It is suggested that DJI needs to identify the market. The SME needs to find out the target market and customers in the beginning. Second, SMEs should seize the opportunity, especially the official policy, like 'Made in China 2035'. Finally, developing core competencies is the key to success. For hightechnology companies, research and development are critical that the company should always focus on.