SWOT Analysis: A Method for Studying the State of a Business

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From time to time, you have to study your own business to understand its condition based on analytical data, not assumptions and subjective assessments. And one of the ways is SWOT analysis. It allows you to comprehensively study the factors that affect the company's condition.

The company Fractus offers to order this type of research.

SWOT analysis: specifics
SWOT analysis is one of the methods of business research to identify external and internal factors that influence its activities. Four factors are assessed. A number of questions will help to obtain answers.

SWOT analysis: specifics

Strengths
What is the company's unique selling proposition ?
What makes it stand out from its competitors ?
What are the advantages?
What are the benefits and advantages for the client?
Do competitors see your strengths and what are they?
This could be a unique offer, strong angola email list 276670 contact leads trust from customers, implementation of innovations. Everything that distinguishes a business from its competitors makes it strong.

Weaknesses
How do they manifest themselves?
How do opponents see it?
Are there any factors that reduce profits?
What is the company doing wrong?
What are the competitors better at?
The list may include a decrease in product quality, poor service, outdated equipment, a narrow range of products, etc. In short, all those factors that make a company vulnerable lead to a drop in income.

Opportunities
What trends are observed in the economic, socio-cultural, political and technological spheres?
How can they be useful to the company?
This could be a reduction in the cost of raw materials, a favorable exchange rate for the company, a competitor leaving the market, a reduction in taxes, the emergence of new trends – anything that can be used for further development.

Threats
What do they consist of?
How can companies be harmed?
Can a company avoid them?
How to function with their influence in mind?
For example, tax increases, unstable political situation or its worsening, catastrophic climate change, the emergence of a strong competitor, innovation that negatively affects the company. Factors that can negatively affect the business, cause damage to it or even lead to the cessation of its existence.

Hence the abbreviation SWOT. Internal factors include weaknesses and strengths, while threats and opportunities are external.

To begin with, a SWOT analysis of a company involves studying internal factors: there is an opinion that without this data it is impossible to evaluate external ones.

Visualization of the analysis is a 2x2 table, horizontally divided into internal and external aspects, and vertically divided into positive and negative.

Visualization of analysis

Applications of SWOT analysis
Research is used for various purposes: when a new business enters the market or launches a new product, when improving existing business processes, for analyzing competitors, when expanding a product line, summing up the results of activities, and even for personal growth.

The company is able to influence almost all factors: weaknesses and strengths and opportunities. Which cannot be said about threats: you will have to develop an algorithm for how to adapt.

Analysis by Fractus
Need to conduct an analysis - of the market, the company itself, competitors? It's time to order a SWOT analysis from Fractus.

We have specialists who have experience in such work, tools, knowledge. And if you wish, we can create strategic planning based on this data. And your business will develop.

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