Swot Analysis and Weaknesses
Understanding SWOT Analysis
Why use the tool?
SWOT Analysis is an effective way of identifying your Strengths and Weaknesses, and of examining the Opportunities and Threats you face.
How to use tool:
To carry out a SWOT Analysis, write down answers to the following questions. Where appropriate, use similar questions:
Strengths:
* What advantages do you have? * What do you do well? * What relevant resources do you have access to? * What do other people see as your strengths?
Consider this from your own point of view and from the point of view of the people you deal with. Don't be modest. Be realistic. If you are having any difficulty with this, try writing down a list of your characteristics. Some of these will hopefully be strengths! In looking at your strengths, think about them in relation to your competitors - for example, if all your competitors provide high quality products, then a high quality production process is not strength in the market, it is a necessity.
Weaknesses:
* What could you improve? * What do you do badly? * What should you avoid?
Again, consider this from an internal and external basis: Do other people seem to perceive weaknesses that you do not see? Are your competitors doing any better than you? It is best to be realistic now, and face any unpleasant truths as soon as possible.
Opportunities:
* Where are the good opportunities facing you? * What are the interesting trends you are aware of?
Useful opportunities can come from such things as: * Changes in technology and markets on both a broad and narrow scale * Changes in government policy related to your field * Changes in social patterns, population profiles, lifestyle changes, etc. * Local Events
A useful approach to looking at opportunities is to look at your strengths and ask yourself whether these open up any opportunities. Alternatively, look at your weaknesses and ask yourself whether you could open up
Why use the tool?
SWOT Analysis is an effective way of identifying your Strengths and Weaknesses, and of examining the Opportunities and Threats you face.
How to use tool:
To carry out a SWOT Analysis, write down answers to the following questions. Where appropriate, use similar questions:
Strengths:
* What advantages do you have? * What do you do well? * What relevant resources do you have access to? * What do other people see as your strengths?
Consider this from your own point of view and from the point of view of the people you deal with. Don't be modest. Be realistic. If you are having any difficulty with this, try writing down a list of your characteristics. Some of these will hopefully be strengths! In looking at your strengths, think about them in relation to your competitors - for example, if all your competitors provide high quality products, then a high quality production process is not strength in the market, it is a necessity.
Weaknesses:
* What could you improve? * What do you do badly? * What should you avoid?
Again, consider this from an internal and external basis: Do other people seem to perceive weaknesses that you do not see? Are your competitors doing any better than you? It is best to be realistic now, and face any unpleasant truths as soon as possible.
Opportunities:
* Where are the good opportunities facing you? * What are the interesting trends you are aware of?
Useful opportunities can come from such things as: * Changes in technology and markets on both a broad and narrow scale * Changes in government policy related to your field * Changes in social patterns, population profiles, lifestyle changes, etc. * Local Events
A useful approach to looking at opportunities is to look at your strengths and ask yourself whether these open up any opportunities. Alternatively, look at your weaknesses and ask yourself whether you could open up