Ever since the beginning of man kind, us humans have been focused on innovating and making our lives constantly easier. Since the invention of the wheel 3500 B.C to the latest iPhone that was introduced back in September. It is a constantly process of evolution. It is was makes us humans, human. However, business experts have also been running that same constant race for innovation. And, one of the most important in the recent years it the S.W.O.T analysis.
It was invented in order to strategically plan ahead by organizing your business. Strengths, Weaknesses, Opportunities, and Threats is was SWOT stands for. In many cases, you need to know where your company is standing. For example, at school, we see BlendZ as a potential life-long successful company that will provide healthy beverages to the community. When doing the SWOT chart, here's what you need to focus on.
Strengths: Internally, what does your business have that makes it run so smoothly? It is the employees, the market segment? Try looking over your value propositions.
Weaknesses: Internally, what do you need to improve, as a company? Time spent working, work habits. What is under your control that is disabling your company to grow?
Opportunities: Externally, what is a event, time, or person you could contact in order to make your business grow? Try using your human capital to grow, get your business and product well known.
Threats: Externally, is there a possible variable that could jeopardize your success at your company? Is there barriers to entry for your company? Think of your product it self, what could possibly not go your way?
To get a better idea of what I am talking about, here's what how I analyzed BlendZ by using the SWOT analysis:
It was invented in order to strategically plan ahead by organizing your business. Strengths, Weaknesses, Opportunities, and Threats is was SWOT stands for. In many cases, you need to know where your company is standing. For example, at school, we see BlendZ as a potential life-long successful company that will provide healthy beverages to the community. When doing the SWOT chart, here's what you need to focus on.
Strengths: Internally, what does your business have that makes it run so smoothly? It is the employees, the market segment? Try looking over your value propositions.
Weaknesses: Internally, what do you need to improve, as a company? Time spent working, work habits. What is under your control that is disabling your company to grow?
Opportunities: Externally, what is a event, time, or person you could contact in order to make your business grow? Try using your human capital to grow, get your business and product well known.
Threats: Externally, is there a possible variable that could jeopardize your success at your company? Is there barriers to entry for your company? Think of your product it self, what could possibly not go your way?
To get a better idea of what I am talking about, here's what how I analyzed BlendZ by using the SWOT analysis:
The reason I created this chart is because I feel that in BlendZ, we are seeing long-term, but 6-month long term. Not 3-months (figuratively speaking). I feel we need to know what we are missing as a company, what opportunities we have and we are not taking but could most definitely can because of our market type. In many cases, we think about opportunities we have when we most need then in moments of stress and desperation yet never when you're calm Since there are many rolls in our company, I took the time to figure out those opportunities we have and relate them to our strengths as well. Moreover, the importance of knowing your threats is as important as knowing your strengths because when selling your product, you must know what could possible go wrong. For example, if you are planning on inventing and selling a new computer, you must be aware that Apple is an immense threat for the development of that computer company.
In essence, it is the time you spend, calmly, thinking about your company that creates life-long success for your business.
For more information, please visit:
The SWOT Analysis Review: http://www.ryerson.ca/~kjensen/strategic_planning/swot.html
How to: SWOT Analysis:
In essence, it is the time you spend, calmly, thinking about your company that creates life-long success for your business.
For more information, please visit:
The SWOT Analysis Review: http://www.ryerson.ca/~kjensen/strategic_planning/swot.html
How to: SWOT Analysis:
And as always, thanks for reading.