Strengths in a New Business

§ June 23rd, 2023 § Filed under General § Tagged Comments Off on Strengths in a New Business

When starting a new business, a new project, a business, a venture, then obviously the motivation we have to carry it out, is that hope we will be successful. We do and do not assess how we are progressing, it is sometimes not even evaluate if we simply move . But what happens, although the motivation is very good for anything that is starting, it is necessary to avoid capsizing know how we as a company, whether or not our project progresses, how we are positioned in the niche market niche or micro chosen. To this day I’ll introduce a simple tool which enables you to study your company, project or undertaking to know precisely how these positioned in the market and how is moving your enterprise. SWOT is a strategic analysis tool to analyze the current situation of our company. Lets make a diagnosis through the analysis of the four variables: Strengths, Weaknesses, Opportunities and Threats which has or may suffer respectively our company, project or undertaking. Based on the result of our analysis we will determine the actions, strategies and policies to be implemented towards the development of the business. As the application of SWOT can determine two internal factors (to our company, project or business) and external (to our company, project or business.) Also, we group them into positives (Strengths and Opportunities) and Negative (Weaknesses and Threats).

Grouping going to get: Internal Factors – Positive = Internal Factors Strengths – Weaknesses = Negative External Factors – External Factors Opportunities = Positive – Negative = Threats Made a brief introduction and let’s break down that is each of the letters that make our district better that our analysis tool. Strengths: the capabilities, advantages, special features available to our company, project or undertaking and these characteristics are what distinguish it from competition. Counted as positive for analysis. Opportunities: Positive factors are favorable, and therefore outside our company, project or enterprise, which we identify as they will enable us to achieve competitive advantage. Weaknesses: are those places that put our company, project or undertaking in an unfavorable position to compete. Such as resources and skills that are lacking, activities that do not develop properly. They count as NEGATIVE. Threats: are situations, facts or events from the environment and attempt to the continuity of our company, project or undertaking.

They count as NEGATIVE. This article will not further advanced concepts of Business Administration, but merely seeks to provide guidance on basic principles that should be kept in mind when starting a project, or to know how we are positioned with our product to the market niche which we live. How can we make our SWOT? We have the raw (unanalyzed) and our end result should be to have that sorted and classified information are to use in making decisions when necessary. However, to realize our SWOT we answer the following questions: What I’m looking at, is it relevant? Are you inside or outside the company? Is it good or bad for my business?

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