A SWOT, or Strength, Opportunity, Weakness, Threat, is a planning technique commonly used in businesses to increase efficiency and maximize resource by conducting a comprehensive analysis. It covers four areas which need to be constantly kept under check. The SWOT analysis can help your business seize the opportunities and focus on its strengths, as well as identifying weaknesses and threats in order to minimize them. This slide pack can help you present your findings in a visual manner, using a 2 by 2 situation matrix, an opportunity slide, and a threat slide with likelihood.
Using this matrix, you can take a situation and form a powerful analysis by looking at it from two different perspectives. Is it helpful or harmful? External or Internal? Synthesize a response for the situation using all four possible results in order to pick the ones you need and stray away from the ones which would have a negative impact.
Opportunities lie ahead for those who know where to look. Using your SWOT goggles, it will be easy to take up every opportunity that knocks on your door. Whether it’s people, trends, events, businesses, you need to keep an eye out for anything that can be taken advantage of.
At any given time, there are multiple consistent threats for any business. It may be competitors, the market trends, political events or even internal problems. Identify the threats to your business and weigh the probability of each one to know how to prepare your response.
Comprehensive analyses offer an edge
Don’t get left behind by the ever-changing world of business. Keep on top of everything and help your business grow
Be prepared for any situation
Better safe than sorry! It’s worth investing time in creating a crisis management plan and not using it rather than having to deal with a crisis without a plan
Opportunities show themselves to those who look
Keep an open mind and be aware of what’s happening around you
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