Karen, Strategy Specialist at GBC, 2 min read, 6 min video
Is your company able to capitalise on market opportunities and neutralise external threats?
When evaluating your company’s overall situation, it is fundamental that you answer the key question of whether your company is positioned to capitalise on attractive market opportunities to grow your business and defend against external threats to its future well-being. SWOT analysis is an analytical tool that is widely used to conduct this examination. It is the most simplest and easy form of analysis to understanding your market opportunities and external threats. SWOT analysis hones in on your company’s internal Strengths and Weaknesses, market Opportunities, and external Threats.
When crafting strategy, your SWOT analysis provides the basis for selecting relevant and meaningful strategies that will enable your company to capitalise on its strengths whilst overcoming its weaknesses and capturing its best opportunities. In order to give your company its best chance for market success, basing your company strategy on its most competitively valuable strengths is fundamental. Once you have completed your SWOT analysis, the final piece is to translate the evaluation into actions for improving your company’s strategy and business prospects. When we developed StratPlan, we developed it with practicality in mind. Not only does StratPlan helps you draw conclusions to your SWOT analysis but it also enables you to craft meaningful and realistic strategies to capitalise on your company strengths and defend against external threats.
Here’s a short video to show you how to evaluate your company’s overall situation using SWOT analysis in StratPlan. I hope you find the video useful.
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