|photo credit : www.health.state.mn.us|
This is the second and concluding post on SWOT Analysis (find SWOT Analysis (1) here: https://biznessvirgins.blogspot.com.ng/2016/06/swot-analysis-1.html )
This post is aimed identifying at identifying opportunities and threats that affect your business.
Opportunities and threats are external to your company and answering the questions that follow should be helpful in determining them.
-what good opportunities have you identified?
– what interesting trends can you identify in your market place?changes can usually occur in technology,government policies,economic situations,lifestyle,population ,income.
– Do your strengths open up any opportunities?
– will getting rid of any weaknesses open up any opportunities?
– What are your competitors up to?
– What obstructions do you face in business?
– how liquid is your business ?(how much cash can be made available within your business)
– are there changes that can affect your company ? ( changes in technology,quality standards and specifications.