Читать книгу IT Architecture from A to Z: Theoretical basis. First Edition - Vadim Aldzhanov - Страница 43

Strengths Weakness Opportunities Threats (SWOT) Analysis is a method for evaluating the internal and external factors affecting the development of a company. It will help assess the strengths and weaknesses of your business, find new opportunities and identify possible threats. SWOT analysis divides the influence factors into four categories, identifying company’s strengths, weaknesses, opportunities and threats:

•S-strengths (the sale of goods directly to the buyer, the profit is greater than that of competitors, customer service is the best on the market, etc.);

•W-weaknesses (insufficient partners, ineffective advertising, small target audience);

•O-opportunities (potential customers will find out everything they need about your product from the Internet, purchases are made 24 hours a day, regardless of whether you work or not);

•T-threats (your competitors’ brand is better known in the market, the quality of products offered by competitors is higher).

SWOT analysis is often used in strategic planning. It can start any action of the company, such as the study of new initiatives, new development strategies, and possible changes. Internal factors are strengths and weaknesses relating to internal factors, which can be easily evaluated:

• Financial resources (financing, income opportunities);

• Physical resources (your equipment, buildings, location);

• HR (employees, sometimes volunteers, target audience);

• Access to natural resources, copyrights, patents;

• Current processes (all events taking place in the company, motivational programs, training programs, a system of departmental hierarchy, etc.)

Answer the following questions in order to find the strengths of your business:

• What are the benefits of your business?

• What are you doing better than everyone else is?

• What are your strengths seen by your customers?

• What is your Unique Selling Proposition (USP)?

• How can you increase your profits?

Consider your strengths from your point of view and from your clients’ point of view. Assess your strengths relative to competitors. External factors – the influence of external circumstances on each organization and individual person is very strong. External factors are, as a rule, the circumstances that cannot be controlled by you and your company:

• Market trends (new products, technologies, changes in the needs of the target audience);

• Economic trends (local, national, international financial areas);

•Financing (donations, government influence, taxes, etc.);

• Demographic information (age, gender, race, nationality, cultural values of the target audience);

• Relations with suppliers and partners;

• The political, environmental, economic situation in the country.