SWOT on business start-up strategy
PRESENTED BY DEWAN V.S. GROUP OF INSTITUTIONS INDIA
SWOT strategizes analytical framework for your organisation
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STRENGTHS
Define characteristics of the business or project that gives it an advantage over others OPPORTUNITIES
List attributes in the environment that the business or project could exploit to its advantage
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WEAKNESSES
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Identify characteristics of the business or project at a disadvantage over others THREATS
Address concerns in the environment that could cause trouble for the business or project
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STRENGTHS
WEAKNESS
OPPORTUNITIES
THREATS
What advantages does your organization have? What do you do better than anyone else, your organization's Unique Selling Proposition (USP)? What unique or lowest-cost resources can you draw upon that others can't? What do people in your market see as your strengths? What factors mean that you "get the sale"?
What could you improve? What should you avoid? What are people in your market likely to see as weaknesses? What factors lose you sales?
What good opportunities can you spot? What interesting trends are you aware of? Which are the useful opportunities you can adopt to?
What obstacles do you face? What are your competitors doing? Are quality standards or specifications for your job, products or services changing? Do you have bad debt or cash-flow problems? Could any of your internal and external weaknesses seriously threaten your business?
REASON OUT INTERNAL EXTERNAL MATRIX QUESTIONNAIRE
SWOT
SWOT template: SMALL START UP CONSULTANCY
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STRENGTHS
WEAKNESS
OPPORTUNITIES
THREATS
Quick response with the direct management to cope with day-to-day functionalities Customer-service oriented relatively to others as less number of accounts Management of change is straightaway adaptable, if required Low overheads can offer good value to customers
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Market presence has to be created to reach large audiences Cash flow will be unreliable in the early stages Vulnerability to vital staff being sick or leaving Budget constraints lead to hiring of a shallow skilled task-force in certain areas
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Business Development expansions can lead to future opportunities for success Local government wants to encourage local businesses Large-size competitors may be slow to adopt to new technologies Optimize on founder’s strong reputation in the market
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Developments in technology may change this market beyond our ability to adapt A small change in the focus of a large competitor might wipe out any market position we achieve Other small consultancies looking to invade the marketplace
ANSWER REALISTICALLY
SWOT
SWOT template: SMALL START-UP CONSULTANCY
STRENGTHS ANALYSIS To get a better perspective try creating a graphical statistics and list your strengths. When looking at them, think about them in relation to your competitors. For example, if all of your competitors provide high quality products, then a high quality production process is not a strength in your organization's market, it's a necessity
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Qualitative marketing research such as focus groups Quantitative reports such as statistical surveys Experimental techniques such as test markets Observational techniques such as ethnographic (on-site) observation Competitive intelligence processes to help identify trends
WEAKNESSES Identifying “real” weakness without a collaborative brainstorming possibilities with a variety of contributions made by IE (internal & external) participants is limiting to the misinterpretation of the whole objective of SWOT analysis
BUSINESS DEVELOPMENT Update technology and understand markets on both broad and narrow parameters Watchout for changes in social patterns, population profiles, lifestyle changes, and so on Current government policies and local trends can give you an eventful sights etc
OPPORTUNITIES A useful approach when looking at opportunities is to look at your strengths and ask yourself whether these open up any opportunities. Alternatively, look at your weaknesses and ask yourself whether you could open up opportunities by eliminating them
THREATS External and internal factors stemming from community and societal changes can create a certain degree of threats. Developments in technology may change this market beyond our ability to adapt. A small change in the focus of a large competitor might wipe out your current market position PRODUCT
REGULATIONS
TRADE BARRIERS
MARKET
SWOT matrix Business Managers apply’s various ways of understanding SWOT matrix - to overcome critical factors and to achieve objectives ➔ ➔ ➔ ➔ ➔ ➔
Prepare resourceful project plans Monitor results Map against plans Take corrective actions Create competitive positioning Build product differentiation
A degree of vertical integration, historical responses to industry developments, and various other factors will result you in giving a better perspective of your business
THANK YOU
THANK YOU