Strengths Weaknesses Opportunities and Threats

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Strengths Weaknesses Opportunities and Threats

Strengths Weaknesses Opportunities and Threats – SWOT analysis is something one of the most important planning to do for your organisation.

It is one of the simplest framework that one must do for their organisation to understand their organisation better. Analysing the strength, weakness, opportunities, and threats of your organisation is the SWOT analysis.

This is one of the best things to do for your organisation so that you can grow better in your organisation. Through this analysis, one can do a lot of research and be better against their competitors.

Strengths Weaknesses Opportunities and Threats – Through this analysis, one can understand how to do well in the business, what you are lacking in the process, gives you the areas where you can be better than everyone else, and create the most advantages for your business. 

Strengths Weaknesses Opportunities and Threats

Strengths Weaknesses Opportunities and Threats
Strengths Weaknesses Opportunities and Threats

Every organisation has done or does the SWOT analysis. Every corporate worker knows the SWOT analysis process. In fact, bigger organisations have different teams for the SWOT analysis process.

Strengths Weaknesses Opportunities and Threats – But, this is not limited for the bigger organisations only. There are a lot of startups emerging on a daily basis in the world and each of them follow the SWOT analysis techniques.

Strengths Weaknesses Opportunities and Threats – This analysis is something that an organisation of 1000 o2 even 2 people must do to grow ahead in the business. One can apply the SWOT analysis in the entire organisation as a whole or just for one project depending upon the needs. 

Strengths Weaknesses Opportunities and Threats

Strengths Weaknesses Opportunities and Threats
Strengths Weaknesses Opportunities and Threats

Let us see what each of the SWOT analysis techniques stands for. 

Strengths – List down all the strengths of your organisation or the project. 

 

  • You can talk about the special qualities and the USP of your business that makes you different from your competitors out there. 
  • Think and jot down all the possibly good things that your company does
  • Give focus on the tangible products such as capital, tangible properties, technologies, etc
  • All the intellectual resources that you have invested in 

 

Weaknesses – List down all the weakness and your weak aspect that you feel

 

  • List down all the factors where your competitors are better than you
  • List down the limitations that you have in the resources
  • There must be a lot of things where your company or project lacks. List them down so that you know where you stand 
  • Unclear unique selling proposition 

 

Opportunities – List down all the opportunities where you can grow and outer perform. 

 

  • Find out the place where your products are needed. This could also mean to find out your targeted audience. 
  • See what your competitors are doing but just refine them as competitors of your area so that you can be the best at one place at least. 
  • List down the places where you can get more press and media coverage for your company. This could show you the place where you can get more publicity and coverage. 
  • Understand the most targeted market for your products and all the specific products. 

 

Threats – List down all the threats that your business may have. 

 

  • See who all are the emerging competitors and how they can stay at a distance from you
  • Find out what are the changing attitudes of the customer for your products. See what has changed their behaviour
  • Check all the negative and the ill media coverage and reviews about you 
  • Changing the regulatory environment

 

Before conducting a SWOT analysis, these are some of the questions that you must answer. 

 

  • What does your company do better than other companies in your industry?
  • What are your most positive brand attributes?
  • What’s your unique selling proposition?
  • What resources do you have at your disposal that your competitors do not?

 

If you have successfully answered all these questions then you are at a great place to do the SWOT analysis. 

To consider some of the weakness related questions, you must answer these questions. 

 

  • What do your customers hate or do not like about your company?
  • What problems are mentioned in your negative reviews?
  • Why do your customers cancel post purchasing your products? 
  • What could your company do better?
  • What are your most negative brand attributes?
  • What are the biggest challenges in your current sales funnel?
  • What resources do you lack compared to your competitors?

 

Now you know how you can effectively run a SWOT analysis for your business. 

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