Understanding your strengths and identiifying opportunities
Understanding your strengths and identifying opportunities
The more you understand about your business, your market and your competitors, the better prepared you are for the business journey that lies ahead - and this is where a simple SWOT analysis can be an invaluable tool in your strategic armoury.
But what exactly is a SWOT analysis?
Building a detailed picture of your business
SWOT stands for Strengths, Weaknesses, Opportunities and Threats - and this kind of analysis help you to get a more detailed understanding of your business and market.
By breaking things down into four key quadrants, you can review each area and begin to build up your business intelligence profile.
Let's take a look at each of the quadrant:
- Strengths
In this section, you list the areas where the business is particularly strong and has a positive presence. In essence,
