SWOT analysis

From WikiTextbook

SWOT Analysis is a way of identifying the present Strengths and Weaknesses, and to examine the Opportunities and Threats the business may face in the future. A SWOT analysis will often highlight changes that need to be made.

To carry out a SWOT Analysis the business will have to list the following:

STRENGTHS

These are the things that the business and its staff do well at the moment. They will more than likely be things that are popular with its customers and make a profit

WEAKNESSES

These are the things that the business is doing badly at the moment. The weaknesses will lead to the business getting a bad reputation.

OPPORTUNITIES

These are the things that the business could do in the future if it is able to carry on successfully.

THREATS

These are the things that may happen to the business if its weaknesses are not sorted out or if external factors affect the business, for example, a recession or competitors.

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