For example, if all of your competitors provide high quality products, then a high quality production process is not a strength in your organization's market, it's a necessity.Again, consider this from an internal and external perspective: Do other people seem to perceive weaknesses that you don't see? It's best to be realistic now, and face any unpleasant truths as soon as possible.Marketing would be in selected local publications to get the greatest possible market presence for a set advertising budget, and the consultancy should keep up-to-date with changes in technology where possible.Click on the image below to see SWOT Analysis represented in an infographic: SWOT Analysis is a simple but useful framework for analyzing your organization's strengths and weaknesses, and the opportunities and threats that you face.
Alternatively, look at your weaknesses and ask yourself whether you could open up opportunities by eliminating them. This is quite similar to SWOT in that it also focuses on the same four elements of Strengths, Weaknesses, Opportunities, and Threats.(Click here What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well-placed to exploit.And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.More than this, by looking at yourself and your competitors using the SWOT framework, you can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market. Humphrey in the 1960s, the tool is as useful now as it was then.You can use it in two ways – as a simple icebreaker helping people get together to "kick off" strategy formulation, or in a more sophisticated way as a serious strategy tool.