SWOT A NALYSIS : S TARTING A B USINESS November 8, 2013 BUS
115: W2 Prof. Nelson Kristen Wood [2,5,6,8,11,12] Colleen McCarthy
[1,3,4,7,9,10,13]
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I NTRODUCTION SWOT stands for: SWOT analysis provides an easy
to understand framework for describing and analyzing the internal
characteristics of an organization as well as the external
characteristics of its environment. Strengths, Weaknesses,
Opportunities and Threats.
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S TRENGTHS : ATTRIBUTES OF THE ORGANIZATION THAT ARE HELPFUL TO
ACHIEVING THE OBJECTIVE Important Business Characteristics Patents
Brand names Good reputation Accessible location Quality
product/service Sample Questions What do you do better than anyone
else? What resources do you have that no one else does? What makes
you different from competitors? SWOT analysis for Your Startup
Business
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W EAKNESSES : ATTRIBUTES OF THE ORGANIZATION THAT ARE HARMFUL
TO ACHIEVING THE OBJECTIVE Harmful Characteristics High cost Lack
of resources People/knowledge Raw materials Natural resources Lack
of distribution Bad location Sample Questions Where do your
competitors have an advantage? Where do you lose sales? Where does
your business lack? SWOT analysis for Your Startup Business
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O PPORTUNITIES : EXTERNAL CONDITIONS THAT ARE HELPFUL TO
ACHIEVING THE OBJECTIVE An unfilled customer need Loosening of
regulations A growing market segment Technological change
Socio-cultural changes
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T HREATS : EXTERNAL CONDITIONS THAT COULD DO DAMAGE TO THE
BUSINESS ' S PERFORMANCE Negative socio- cultural changes
Technological changes that threaten to make a product obsolete
Threats of changes in laws and regulations Shifts in consumer
tastes away from the businesss products Increased trade
barriers
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GO BACK: STRENGTHS WEAKNESSES OPPORTUNITIES THREATS SWOT
analysis for Your Startup Business
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U SING EXCEL FOR SWOT ANALYSIS
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E CONOMY EFFECTS Changing economy Changing business strategy
With a low economy a business may: Cut the number of employees
Attempt to reduce production costs SWOT analysis also allows a
company to evaluate how consumers see their business during
economic ups and downs
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E VALUATION SUMMARY POSITIVES Valuable Results Decision Making
Considers Budget Profit opportunities in specific market Public and
societys view on business Free NEGATIVES Possibly Ineffective "The
Advantages of SWOT Analysis."
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C ONCLUSIONS A SWOT Analysis would be beneficial to your
company if you have a group of team members who are fully committed
to achieving an accurate result. It offers an "at a glance" type of
analysis. No purchase is necessary, so it is feasible for all
companies, big or small. SWOT Analysis is as easy as 1-2-34!
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R ECOMMENDATIONS Use Excel Collecting data numbers Information
Pie Charts/Graphs Use Surveys for Customers/Suppliers Outside look
at strengths, weaknesses, and threats Be as Accurate as Possible
Look at Business from Many Different Angles
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R EFERENCES "SWOT Analysis for Your Startup Business." SWOT
Analysis. Web. 03 Nov. 2013.. McGriff, Michelle. "The Advantages of
SWOT Analysis." EHow. Demand Media, 12 Mar. 2010. Web. 03 Nov.
2013.. THE END
