The SWOT grid is a table that is broken up into four quadrants: Strength, Weaknesses, Opportunities and Threats. Moreover, looking at the top two quadrants, your Strengths and Weaknesses are often considered swot analysis case study pdf variables.
This template offers a basic framework and a series of questions to help you evaluate your organization. Strengths are things you often want to advertise and showcase to your customers. For example, if your team of financial advisors are all certified CPAs, you may want to consider that a strength. You may also identify your reputation for product quality as a strength. Weaknesses, by contrast, are things your customer may see as risks to them, such as limited resources, limited use of technology, or even your geographic location.
You may also consider it to be a weakness that your customers cannot get all information about your products from your website. Further, a business that lacks a sales team to sell its products may consider its organizational structure to be a weakness. Struggling to Start a SWOT Analysis? A great way to get started with a SWOT analysis is to think about your organization from the perspective of your customers. Our customers love our rewards program.
Customers often say our prices are too high. Our distributor agreement now allow us to sell these products in another state. Our competitor has invested in new manufacturing techniques. Further, when conducting a SWOT assessment, think about more than just your products themselves, but how your customers interact with them. For example, brick and mortar movie rental stores eventually died because online streaming of movies became popular with consumers. In this case, online streaming technology was a threat to the brick and mortar movie rental business. They can also be used to compare you to your competitors.
Opportunities often mirror the weaknesses of your competitors, and include other aspects of the market where you can capitalize. For example, if your competitors are large firms who move more slowly, you have an opportunity to gain market share by acting more quickly to meet customer needs. Using your expertise to expand into new markets is another example of an opportunity. Finally, Threats are the external forces that can adversely impact your business.
Examples include market trends that make your business obsolete or insignificant. If you were a floppy disk manufacturer in the early 1990s, the CD-ROM would have been a threat to your business. Examples of threats can also include competitor moves, regulatory changes or technology trends. After all, it is not easy to think critically about what we have worked so hard to build and grow. Still, self-evaluation is an important exercise that helps you map out ways you can be better. So, to help you identify items for each of the four SWOT categories, here are some sample questions you should ask yourself. Are there any elements of your business that make you especially valuable to customers?
Do you have special skills within your business? What can you do better than your competitors? Are there features of your business that give you a unique advantage? Do you lack special skills within your business that your competitors have? Are customers asking you for something you cannot provide? What prevents you from getting that order? Where are your competitors better than you?
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