Assignment
You have to think a company you want to open as an Entrepreneur, and answer the following all questions in the worksheet of SWOT analysis.
Worksheet: SWOT Analysis: Company name ______
• Strengths-Consider these areas:
o What unique advantages does, or will my company have in the marketplace or industry?
o What does or will my company do very well?
o What does or will my company do that surpasses our competitors?
o Do we have access to resources, distribution channels, or technology that is unique to my company?
o How do or will individuals within the organization contribute to our success?
o What expertise or unique experience do I or my employees have that will have a positive impact on our business growth?
o What other strengths does my company have that provide it with a unique advantage in the market?
o Name three Strengths unique to your company:
• Weaknesses-Consider these areas:
o Relative to our competitors, what areas are we simply not proficient at?
o Do we lack experience in a vital area such as sales, or do we lack the ability to develop new products that will contribute to our growth?
o Do we have a shortage of people with the right experience, skills, or expertise?
o How much knowledge do we possess about certain markets or industry sectors that are relevant to our business?
o Do we lack technical skills or need improvements in our ability to operate smoothly?
o Are we experiencing production capacity problems because our systems are not working at peak performance?
o Are our manufacturing/production costs too high, yet we are not able to lower them in the near future?
o What other areas need improvement?
o Name three Weaknesses unique to your company:
• Opportunities-Consider these areas:
o Is there strong customer demand in the market for our products or services and the value that we provide to our customers?
o Is there a lack of satisfaction with the products that are currently offered or available?
o Is our competition limited or weak in certain areas that we have not yet addressed or attacked with full effort?
o Is there a lack of competitors or substitute products or services that currently satisfy customers' needs?
o Are there readily available or easily accessed distribution channels (e.g., the Internet or the opening of a new trade channel) that we can take advantage of?
o Are there opportunities to easily enter a new or related market?
o What other opportunities are there in the market that will help me launch my business?
o Are switching costs (perceived or real) low?
o Name three Opportunities that you can take advantage of:
• Threats-Consider these areas:
o Do barriers to entry, such as limited distribution channels or the closure of certain channels for importing or exporting products, affect my business?
o How much competition is there in the market?
o Are there a lot of substitute products, making it difficult for me to differentiate my value?
o Is my company affected by an increase in the price of supplies or lack of availability of certain supplies required to develop or deliver my product?
o Does inertia affect my business (i.e., people are "happy enough" with the present solution to their problem)?
o What regulations affect my business, now and in the future?
o Have there been any changes in customers' interest in my product or service?
o Name three Threats that you need to be cautious of: