SWOT Game
benefits of SWOT
1-shed light on issues you hadn't thought of, 2-filter for a great deal of information, 3-framework to organize info, 4-gain insights about environment
Opinions
A SWOT Weakness is that it is based on people's _______.
diagram used to organize a SWOT Analysis
SWOT Matrix
best marketing strategy strategies
emphasizes strengths, minimizes weaknesses, capitalizes on opportunities, avoids threats
collecting info about the environment surrounding your business
environmental scanning
WT strategies
focus on ensuring that a business's weaknesses don't make it even more vulnerable to the threats it already faces
SO strategies
focus on opportunities that are a good match with the business's strengths
WO strategies
focus on overcoming a business's weaknesses so the business can pursue opportunities
ST strategies
focus on using a business's strengths to overcome its threats
SWOT cautions
is subjective, is where your business is right now only, must be specific
being able to look at your business w/ proper perspective
not getting overly confident due to strengths or losing heart b/c of your weaknesses
guidelines for conducting SWOT interview
one on one, explain purpose, assure propriety, go in any order, ask basis for answers to determine if opinion or fact
favorable situation in the environment
opportunity
what are the newest technological breakthroughs?
opportunity question
resource or capability your business has that can help you gain a competitive advantage
strength
what are our assets?
strength question
unfavorable situation in the environment
threat
what economic rends are harmful to us?
threat question
the end result of your SWOT analysis should be.....
to make sound strategic-planning decisions
who should be involved in SWOT
top executives, middle management, employees, suppliers, customers
limitation or shortcoming that can keep your from achieving your objectives
weakness
where are we losing money?
weakness question
when to conduct SWOT
young, old, growing, or dying
