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SWOT Analysis
SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal to the firm, whereas opportunities and threats come about externally. Strengths include intellectual property (patents, trade secrets, trademarks), brand recognition, cost advantages, access to technology, raw materials, key management or personnel talent, good customer or supplier relationships, financial position, or sales channels. Weaknesses are simply lack of any of the strengths. Opportunities can include unfulfilled customer needs (identified from your customer and competitor analysis), technology breakthroughs, potential partnerships, loosening of trade restrictions, and removal of trade restrictions. Threats include any of the opportunities which your competition can take advantage of, as well as shifts in customer tastes or needs, emergence and acceptance of substitute products, and new competitors. Examples of these are presented below:
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b$olutions
215 E. Christie Ave.
Butler, PA 16001
Phone: 724-282-8769
Fax: 724-259-1724
E-mail: bsolutions@zoominternet.net
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Strengths (Internal to the firm) People Capabilities Competitive advantages USP's (unique selling points) Reputation with customers Market share/presence History Resources, Assets Experience, knowledge, data Cash Expected profits Sales Channel Technology and engineering capability Location and geographical Price, value, quality Accreditations, qualifications, certifications Processes, systems, IT, communications Company culture Employee behaviors Management |
Weaknesses (Internal to the firm) Key people needs Gaps in capabilities Lack of competitive strength Financials Known vulnerabilities Timing requirements Cash flow, ability to raise cash Lack of access to materials and supply chain Effects on core activities, distraction Reliability of data Morale and commitment Missing processes, systems, qualifications, accreditations Leadership and management gaps |
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Opportunities (External to the firm) Market developments and developments Market niches Competitors' weaknesses Technology developments Government regulation changes Global influences Geographical, export, import New USP's Major contracts Business and product developments Partnerships, mergers, acquisitions Production volumes and economies of scale Seasonal and weather related influences |
Threats (External to the firm) Political and government effects Environmental regulations IT developments Competitive developments Market demand and economy New technologies Business and technology development risks Insurmountable weaknesses Loss of key people Sustaining financial backing Seasonality and weather effects |