Delta Data Services LLC

What is Business SWOT Analysis

Delta Data Services LLC
06.02.22 09:40 AM Comment(s)

What is Business SWOT Analysis

DDS SWOT Analysis

You may have heard the term "SWOT analysis" if you've ever worked in a corporate office setting. This has nothing to do with analyzing militarized police enforcement response units and everything to do with examining your business in-depth. S.W.O.T. is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis is an organized list of your business’s greatest strengths, weaknesses, opportunities, and threats.

Strength
  • What your business excels at
  • Characteristics that set you apart from your competition
  • Internal resources include competent and knowledgeable personnel.
  • Intellectual property, cash, proprietary technology, and other tangible assets
Weakness
  • Things your business is missing
  • Things that your competitors excel at
  • Resources are limited.
  • Uncertainty about the unique selling proposition
Opportunity
  • Specific product markets that are underserved
  • There aren't many competitors in your neighborhood.
  • Needs for your products or services that aren't being met yet
  • Your company's press/media coverage
Threat
  • Competitors on the rise
  • The regulatory climate is changing.
  • Press/media coverage that is negative
  • Changing client perceptions of your business
You'll have a good approach for prioritizing the tasks you need to perform to build your business if you take the time to complete a SWOT analysis. You may believe you already know all you need to succeed, but a SWOT analysis will drive you to look at your company with an angle of 360 degrees and from new perspectives. You'll examine your strengths and limitations, as well as how you may use them to take advantage of market opportunities and threats.
Contact Us
Schedule a Free 1-hour Session
Please Subscribe