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Process for Performing a SWOT Analysis

Process for Performing a SWOT Analysis thumbnail
A SWOT analysis exposes weaknesses within an organization.

SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis allows a company to examine the internal and external factors that affect a company's business environment. TYou can complete a SWOT analysis by asking several questions.

  1. Strengths

    • The strengths are those factors that help the company stand out from its competitors. This portion of the analysis asks questions such as "What do you do better than anyone else?" and "What advantages does your company have?"

    Weaknesses

    • Weaknesses are those areas of vulnerability. These are the areas where competitors could take business from the company. Weaknesses answer the questions such as "What factors cause the company to lose the sale?" and "What should the company avoid?"

    Opportunities

    • The opportunities are those external factors that can help the company. Factors that can aid the company include, but are not limited to, changes in governmental policy, changes in social mores and technology. These external factors create additional revenue opportunities for the company.

    Threats

    • Threats also are external to the organization. Bad debt or cash flow problems are examples of threats to an organization that can affect its continued existence.

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