Needs and wants and SWOT

1. ENVIRONMENT AND
MARKET

2. Aspiring entrepreneurs need to explore the
economic, cultural, and social conditions prevailing
in an area.
Needs and wants of the people in a
certain area that are not met may be
considered business opportunities.

3. essential or
necessary to
something
feel a need or
desire for
something

4. Business opportunities
• Identify the needs of the community
• resources
• available raw materials
• skills
• appropriate technology

5. 1. Identify the type of business suited to your business
idea.
2. Analyze and scan the potential environment.
3. study the marketing practices and strategies of your
competitors
4. Analyze strengths, weaknesses, opportunities, and
threats
(SWOT) in your environment to ensure that the products
or services you are planning to offer will be patronized
and within easy reach of target consumers.
Creating a business

6. WHAT IS SWOT ANALYSIS?
A study undertaken by an organization to
identify its internal strengths and
weaknesses, as well as its external
opportunities and threats.
SWOT analysis is a strategic planning
technique used to help a person or
organization identify strengths, weaknesses,
opportunities, and threats related to business
competition or project planning

20. Name of a business:
Description:

21. Name of a business: Keithins Pet Society
Description: A pet salon that offers health check-up, pet grooming and pet
goods.
1. Pet friendly environment.
2. Offers free check-up.
3. Skilled and knowledgeable staffs.
1. Limited customers.
2. Lack of medical facilities.
3. Lack of self-confidence
1. Few numbers of competitors.
2. Gained new friends from customers.
3. Expansion of business.
1. Business might not progress.
2. Customers will preferred to go to
Vet clinic with a complete medical
facility with low prices.
3. Viruses that affects the health of
animals.

22. Name of a business:
Description:

23. Read the word/group of words carefully
and identify if it is a Strengths,Weaknesses,
Opportunities or Threats.

24. Airconditioned building

25. Unsatisfied customer

26. Business Partner

27. Lack of self-confidence

28. Pests

29. Answer exercise 1 page 8, self check 1.1 page 9 and
self check 1.2 page 10 in yourTLE Module.