SWOT ANALYSIS
SWOT analysis (Strengths, Weaknesses,Opportunities and Threats)– popular strategic planning for bussiness improvement or project planning. It helps with choosing pros and cons and finding chances to improve our project while eliminating weak points.
- S (Strength) strong points, advantages, everything that may be used in a profitable way
- W (Weaknesses) weak points, everything that is a disadvantage, barieer and a flaw
- O (Opportunities)- chances, everything that creates a worthful change for the project to grow better
- T (Threats)- everything that could be negative for a well growth of the project
Questions we may ask ourselves in the time of creating a SWOT analysis:
Strength
- What am I good at?
- What is our company special at?
- Which aspects of our company our recipients appreciate the most?
Weaknesses
- What could we refine?
- Which resources could improve our efficiency?
- Which initaitves fail and why?
Opportunities
- Which resources could we use to deal with our weaknesses?
- What could we do to improve a lot of aspects that are important for the growth?
Threats
- Which aspects create anxiety among people?
- In which surfaces our enemy is leading?
Examples of SWOT analysis important aspects:
Examples of strong points:
- Employees with high classification
- Companies resources that let growth
- Well organised and optimalised processes
- high quality of produced products or services
- Effective managment by planned goals
Examples of the weaknesses:
- limited production time creating an unwell quality of the product
- old and neglected machines that are leading to slowing the production down
- big rotation and changes in the staff
Examples of the opportunities:
- increase of the demand for the offered products
- opening of the new market
- increase of the citizens of the city that the company is working in
Examples of the threats:
- increase of the amount of working centers in the theritory that the company is located in
- new concurency that imports products cheaper than the production in the company
- increase of the taxes or other law changes