Swot analysis

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Swot analysis

  1. 1.  Strengths and weaknesses are generally internal factors that are within your control.  Opportunities and Threats are generally external issues that you can’t control.
  2. 2.  STRENTH  WEAKNESS  OPPORTUNITY  THREATS
  3. 3. Strengths  Consider from both the view of the firm (product) as well as from customers and competitors  One’s strength is another’s weakness  Questions:  What are the firm’s or the product’s advantages over others?  What does it do well? What makes it stand out from your competitors?
  4. 4. Weaknesses  Be truthful so that weaknesses may be overcome as quickly as possible  One’s strength is another’s weakness  Questions.  What is done poorly?  What can be improved?  What should be avoided?
  5. 5. Opportunities and Threats  External in nature  Represent characteristics of:  the research environment  growth in potential markets  changes in the competitive, economic, political/legal, technological, or socio-cultural environments  A threat to some is an opportunity to another.
  6. 6.  Questions on opportunities:  Is there a product/service area that others have not yet covered?  Are there emerging trends that fit with your company's strengths?  Questions on threats:  Are your competitors becoming stronger?  Are there emerging trends that amplify one of your weaknesses?
  7. 7. An opportunity could include:  A new, developing or untapped market  An old market needing technological advances  Change in regulatory environment that creates demand for new technology
  8. 8. A threat could be:  Other ongoing research or commercialization efforts  A large existing competitor  Market access (for supplies or customers)  A competitor has a new, innovative product or service  Competitors have superior access to channels of distribution
  9. 9. Suggestions for using SWOT Analysis:  Two people rarely come-up with the same final version of SWOT.  Be realistic; no need to inflate strengths or be in denial about shortcomings.  Distinguish between where your technology is today, and where it could be in the future.  Be specific. Avoid grey areas.  Always analyze in the context of your competitive environment.
  10. 10. More suggestions for using SWOT Analysis  Weaknesses should be looked at in order to convert them into strengths.  Threats should be converted into opportunities.  Strengths and opportunities should be matched.  Keep your SWOT short and simple.  Do not rely on it too much.
  11. 11. Expanding Your SWOT Analysis  Include more detailed competitor information in the analysis.  Take a closer look at the business environment.  Expand the reach of a SWOT analysis through surveys.

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