Assignment 1: Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis
The assigned readings for Module 2 on strengths, weaknesses, opportunities, and threats (SWOT) analysis highlighted the importance of such an activity and provided the method of conducting it. In this assignment, you will conduct a hypothetical strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Envision you and a handful of colleagues wish to start a business. In order to develop the best strategy for entering the market, you need to conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Perform the following:
Select a product or a service to base the business on.
List (at least) four strengths, four weaknesses, two opportunities, and two threats. These should be thoughtful and realistic for a start-up organization.
Outline the business strategy on the basis of the results of the strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Hints:
Leverage your small, agile size and innovative product/service for strengths.
Consider the downside of being new and small for weaknesses.
Think big for opportunities.
Beware of the market leader or technology changes as threats.
All of these should be tailored to the selected product or service.