When doing the following exercise, consider Strengths and Weaknesses to be internal conditions and Opportunities and Threats to be external possibilities.
SWOT analysis is typically conducted in relation to the same analysis for competitors. These weaknesses hamper the organizational success and growth.
Related Courses. This industry requires long hours at tax time, but the availability of year-round work is extremely limited and can make it difficult for the business to retain qualified staff, or find trained staff on short notice during tax season.
Such threats are uncontrollable and prove to be a risk to the stability and survival of the organizations.
Having a strong brand, patent or copyright protection, a unique distribution network, an unusually low cost structureand long-term access to a rare raw material. The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company or business proposition, or any other idea.
There are almost always opportunities if you look for them, though sometimes they may not appear evident at first glance. A reduction in demand caused by changing customer demographics, the impending opening up of a market to foreign competitors due to a new trade deal, and the appearance of lower-cost substitute products.
Being left far below the industry ranks is simply not an option. This analysis is used to see if there are strengths that a business can build upon to improve its competitive position, weaknesses to be minimized, opportunities to pursue, and threats to be guarded against. Note that many of the SWOT questions are also talking points for other headings - use them as you find most helpful, and make up your own to suit the issue being analysed.
Helpful questions: What are the strong areas of your finances? This same problem occurs -- albeit to a lesser extent -- with a bookkeeping business, which is often much busier during year-end closing than at other times of the year.