SWOT Analysis
Should be approximately 4 pages
Create a small business and identify the industry
What is the business? What is the mission?
Which specific industry category does the business belong to?
The industry code list is available online.
Define the specific characteristics of the industry. Identify the major players along the chain, including suppliers, competitors, and customers.
ANALYZE BUSINESS AS WELL AS A CHOSEN COMPETITION
Strengths:
What strengths does the company have now and how will these strengths evolve
moving forward? Describe the positive attributes, tangible and intangible, within your organization and your competitors.
Weaknesses:
What are the deficiencies in the services? Which areas of the business should be
improved first? Identify the weaknesses within your business and your competitors.
These are factors that detract from your ability to obtain or maintain a competitive
edge.
Opportunities:
How can the business leverage partnerships and new innovations to grow the business?
Which other segments of the industry would the company consider entering in future?
Assess the factors that represent the reason for your business to exist and prosper VS. your competitor. What opportunities exist in your market, from which you hope to benefit?
Threats:
Are there external factors (controllable and uncontrollable) that could potentially stifle cash flow or business growth? What are potential threats to your business and your competitor(s)? You can benefit by having contingency plans to address them if they should occur.
How will the business’ strengths help capitalize on available opportunities while minimizing threats?
How will the business’ weaknesses prevent it from maximizing on these opportunities?
How will the business’ weaknesses expose it to threats?
