SWOT Analysis

What is a SWOT analysis, and how can you use it to better your company.

1. SWOT Analysis Colton Shuster

2. What is a SWOT Analysis? A SWOT analysis is a business tool to analyse a company’s strengths, weaknesses, opportunities , and threats.

3. What does SWOT stand for? SWOT stand for; S trengths W eaknesses O pportunities T hreats

4. Strengths Strengths are things that your business does well. What does your business do better than your competitors? What can you do that other companies can’t?

5. Weaknesses Weaknesses are areas that your company needs to improve in. Is there an area your company is struggling in? Is there something that’s hurting your company’s profits/products?

6. Opportunities Opportunities are something that your company can use to improve their business. Is there new technology that can help your business? Are your employees willing to do something new for your company?

7. Threats Threats are something that is standing in the way of success. Is there a competitor stealing your business? Are your customers leaving for a newer and better product?

8. Why should you do a SWOT analysis? A SWOT analysis can be used to learn more about the factors that make up and affect your business. One use of a SWOT analysis is to see what’s wrong with your business, and how to make it better. You can use it to see what’s great as well, and use those strengths/opportunities to grow more.

9. SWOT for competition A lot of companies will conduct a SWOT analysis on their competitors to learn more about them. If they can find their competitors weaknesses and threats, they can use that advantage to beat them. They can also see what that company does well, and can do that for their own company.

10. Works Cited https://www.mindtools.com/pages/article/newTMC_05.htm