As we explained at the beginning of this post, the SWOT analysis serves as a basis for decision-making .
With it, we have a complete diagnosis of the company, which reduces the risks when taking an important step, such as exploring new markets, launching a new product or creating new marketing strategies.
Therefore, the SWOT matrix can help the business in the following ways:
provide greater security for decision-making;
know the scenario in depth;
understand the position relative to competitors;
anticipate external movements;
indicate alternatives for action.
The methodology is quite versatile and easy to apply.
For this reason, it became popular and began to be used not only by albania phone data large companies (as it was originally), but also by small businesses, new projects, products, places, blogs and even people.
That is, in any situation where a decision needs to be made, SWOT analysis can be used.
Who should do the SWOT analysis?
Depending on the size of the business, the company manager or a marketing professional will do the analysis.
However, it will be much more complete if the entire team is involved in the process.
Managers certainly have a global vision of the business, but they are experts in each area who are closely familiar with the pain points, challenges and needs within their work.
Furthermore, participating in a strategic process like this is capable of awakening a sense of belonging, essential to engaging collaborators towards the greater objective.
Now let's understand all the details on how to perform a SWOT, starting with the internal analysis.
How to analyze internal factors?
"Know yourself." This wisdom applies not only to your life , but to businesses as well.
Self-knowledge is the first step to development. So, the SWOT analysis begins by looking inward, to the first two letters of the acronym: Strengths and Weaknesses .
The company's strengths and weaknesses are factors that place it at an advantage or disadvantage in relation to the competition.
Therefore, although the internal analysis looks inside the house, it is also necessary to take into account what the neighbors (the competitors) are doing.
Note also that, in relation to these factors, your company has control, unlike the external analysis that comes later.
The company itself can act to eliminate a weak point or improve a strong point. We are not saying that it is easy to do so, but the control is in your hands.
To understand which characteristics should be analyzed internally, look specifically at the key success factors , i.e. which elements are essential within your sector for the company's good performance.
To find out what they are, look at the leader: what characteristics make it the best in your market?
For example, in the financial market, tradition and credibility can be considered key success factors.
For a restaurant, service and location. For a travel agency, operational agility and efficient support. Each market has its own.
Identify what the essential attributes are in your market and your situation in relation to them.
Here are some points you can analyze in your company to identify your strengths and weaknesses:
location;
market time;
reputation;
human resources;
financial resources;
Marketing;
Administration;
operating capacity;
access to raw materials;
materials and equipment;
etc.
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