Why do Swot Analysis
As a sell owner or a manager you need to learn more about your company. There is a excellent tool called Swot (Strengths; Weaknesses; Opportunities; Threats) diagnosis that will help you to do this research. What are your company's strengths and weaknesses? Are there opportunities in the future? Is the company facing any external threats?
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Why is it good to do? Because all successful businesses build on their Strengths, need to improve their Weaknesses, use Opportunities and be aware about Treats. You can use Swot diagnosis for company planning or strategic planning, competitor evaluation, marketing, company and goods development, etc.
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You can be more specific and value only one area:
1. goods (what are we selling?)
2. Process (how are we selling it?)
3. Customer (to whom are we selling it?)
4. Distribution (how does it reach them?)
5. Finance (what are the prices, costs and investments?)
6. Supervision (and how do we conduct all this?)
Swot diagnosis advantage - free and fast!
The great advantage of using Swot diagnosis that it is free! You and your team could also create new ideas about how your company (store) could use strengths to defend against threats in the shop in a very short duration of time. You will analyze how you could maximize strengths and minimize weaknesses, use internal and external opportunities and overcome threats. It is also a great team building activity.
How to use this technique
You will need to make a brainstorming (40 min to 1 hour) meeting with your team. If you have a large team, you can divide it into groups of 5-6 people. construe to your team the purpose of the meeting and the rules of brainstorming activity. They are: do not no criticize or judge, welcome any ideas, respect others point of view, focus on quantity not quality, and description ideas and thoughts.
Provide the details of the Swot Analysis. Give each group a ready flipchart. In order to make it, just draw two lines to make 4 squares. Write the titles for each square. A square on the top left will be Company Strengths; the square below it will be Opportunities, the square on the right - Weakness, and the last one - Threats. Let your team brainstorm and write down all the ideas they have.
You will be very surprised about how active and creative your employees will be while this meeting. I propose that at the end of this meeting each group makes a presentation and has an occasion to ask questions and have a discussion.
Strengths
Strengths are resources and capabilities that can be used as a basis for developing a competitive advantage. Think about what do your company (store) does well. Use your customers' point of view - how do your clients see and retell your strengths?
Examples
• Good prestige among customers
• excellent Customer service
• superior goods doing vs. Competitors
• Cost advantages
• Direct delivery capability
Weaknesses
The absence of determined strengths may be viewed as a weakness. Is it whatever you could improve? What are the areas for improvement? List the areas that are a struggle. What do your customers complain about? What do your customers see as your weaknesses?
Examples
• Poor prestige among customers
• Customer assistance staff needs training
• Large Supervision component
• Lack of following-up procedures
• Small shop presence
Opportunities
Try to search areas where your strengths are not being fully utilized. Are there new opportunities that will arise soon for your company? How can you turn your strengths into opportunities? Is there a product/service area that you could do well in but are not yet competing?
Examples
• New technologies
• New shop niche
• Loosening of regulations
• discharge of international trade barriers
• Local competitors have worse products
Threats
Look both inside and covering of your company for things that could damage your business. Can your weaknesses become threats? Internally, do you have financial, development, or other problems? Externally, are your competitors becoming stronger, are there new trends?
Examples
• Shifts in consumer tastes
• change in shop demand
• Emergence of substitute products
• Environmental effects
• New regulations
How to Do retail business Swot prognosisClassic Game Room - PLAYSTATION HOME: JULY 2010 review Video Clips. Duration : 7.82 Mins.Classic Game Room HD reviews PLAYSTATION HOME for JULY 2010 (there will most likely be another soon, watch Twitter for info!) This CGR review has gameplay from PS Home during the weekend of July 4th, 2010 showing the 4th of July and Canada Day decorations and celebrations in Playstation Home. You won aFourth of July (4th of July 2010) or Canada Day t-shirt just by visiting, so check back on holidays! Classic Game Room reviews The Midway which is a collection of carnival style mini games for 99 cents and amazingly isn't worth it. CGR gets the Big Daddy suit from 2K games and Bioshock as well as a proper underwater lair. Fun all around, Playstation Home has so much more potential than Sony 3D so why isn't it being treated with the proper respect? I'd rather buy Big Daddy suits and disco dance than spend 30 seconds watching 3-D video with glasses.
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