Using SWOT Analysis to improve your business

Analyzing the strengths, weaknesses, opportunities, and threats (SWOT) of a business is a well-established tool that is widely used by academics, consultants, and advisors. Although it is a simple concept, business owners often struggle when trying to use it because it is so broad. It is difficult to determine where to start, what questions to ask, and where to focus. The obvious problems get attention while many other important issues get overlooked. SWOT analysis is a great tool, but its effective use requires additional structure.

Transcript

1. Using SWOT Analysis to improve your business A presentation created by Punit Patpatia
2. 2 SWOT Analysis S W O T By Punit Patpatia Analysing a Company’s Analysing a Company’s Threats Opportunities Weaknesses Strengths
3. 3 History of SWOT Analysis S W O T By Punit Patpatia • Developed at Stanford • Funded by Fortune 500 companies • Took 9 years to develop • Involved 5000 interviews
4. 4 SWOT Analysis S W O T By Punit Patpatia SWOT Analysis is a strategic planning tool that separates influences on a business’s future success into internal and external factors. SWOT Analysis allows businesses to: • Define realistic goals • Improve capability • Overcome weaknesses with strengths • Identify threats that can be turned into opportunities
5. 5 A Strength S By Punit Patpatia Can be a Competitive Can be a Competitive Adv antage like... Adv antage like... • Superior product quality • Lowest price • Best expertise • Location
6. 6 A Weakness W By Punit Patpatia Can be a disadv antage Can be a disadv antage Such as... Such as... • A tired brand • Inferior location • High overheads • A lack of R&D
7. 7 An Opportunity O By Punit Patpatia Can be... Can be... • A regulatory or tax change • A high-profile event (i.e., marketing) • An untapped market • A gap left by a failed competitor
8. 8 A Threat T By Punit Patpatia • Unfavourable regulation changes • A new entrant into the market • Problems with the economy • Market shrinkage Can be... Can be...
9. 9 Strategies S W O T By Punit Patpatia Strategies that can come Strategies that can come From SWOT Analysis ... From SWOT Analysis ... S O W O S T W T
10. 10 Matching Strengths to Opportunities S O By Punit Patpatia Otherwise known as ... Otherwise known as ... Maxi-Maxi Strategy Using a Strength to maximize an Opportunity S O
11. 11 Matching Weaknesses to Opportunities W O By Punit Patpatia Otherwise known as ... Otherwise known as ... Mini-Maxi Strategy Improving Capability to maximize an Opportunity W O
12. 12 Matching Strengths to Threats S T By Punit Patpatia Otherwise known as ... Otherwise known as ... Maxi-Mini Strategy Minimizing a Threat with a Strength S T
13. 13 Matching Weaknesses to Threats W T By Punit Patpatia Otherwise known as ... Otherwise known as ... Mini-Mini Strategy Minimizing Weaknesses and Threats at the same time (often last choice) W T
14. Thank You. Please feel free to comment below or write to me at emailme@punit-patpatia.tk