HOW TO DO A SWOT ANAL­Y­SIS

CityPress - - Business -

The SWOT clar­i­fies a few im­por­tant re­al­i­ties for the busi­ness owner: un­der­stand­ing your strengths, iden­ti­fy­ing weak­nesses, tak­ing ad­van­tage of op­por­tu­ni­ties and mon­i­tor­ing threats.

STRENGTHS AND WEAK­NESSES

What are the main ob­jec­tives of your strat­egy? Have you suc­ceeded in achiev­ing your strate­gic ob­jec­tives? Why have you met, not met or ex­ceeded your tar­gets? Do your cur­rent prod­ucts or ser­vices meet tar­get-mar­ket re­quire­ments? How se­cure is your or­gan­i­sa­tion’s fi­nan­cial po­si­tion? Do your staff have the nec­es­sary ex­per­tise to meet your ob­jec­tives? Is your or­gan­i­sa­tion ef­fec­tive at com­mu­ni­cat­ing to the mar­ket? How ef­fec­tive are your man­age­ment sys­tems and pro­cesses? Is your or­gan­i­sa­tion well struc­tured and ef­fi­cient, or overly bu­reau­cratic? Does your man­age­ment com­mit­tee have the ca­pac­ity/ex­per­tise to meet the de­mands of the or­gan­i­sa­tion?

OP­POR­TU­NI­TIES AND THREATS

Trends in your area of work or ser­vices and changes in de­mo­graph­ics. New ad­vances in tech­nol­ogy ap­pli­ca­ble in your field. Com­pe­ti­tion from other or sim­i­lar or­gan­i­sa­tions in your area. Op­por­tu­ni­ties for de­vel­op­ing a new area of work. Op­por­tu­ni­ties for ex­tend­ing ser­vices to a new mar­ket. Part­ner­ships or col­lab­o­ra­tive work­ing op­por­tu­ni­ties. Lo­cal author­ity poli­cies and plans in your area. Leg­is­la­tion – for ex­am­ple, tax­a­tion and labour law regime changes. Global eco­nomic shifts. Mar­ket share re­dis­tri­bu­tion by in­tro­duc­tion of a new com­peti­tor.

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