I’m working on a business question and need guidance to help me understand better.
Revise strengths 2 and 3. # 3 is external therefore it can be an opportunity. Strengths are under your control, they should be unique to you, or something you do better than the competition. Some examples: central location, a patent, certified staff, an effective distribution system, etc.
Revise weaknesses 1 and 3 . These are external factors, therefore threats, not weaknesses. Weaknesses are internal to the company and those aspects you can improve on. Think of your financial situation, customer relationship, product or service, growth and development and see if there are some specific aspects you can improve on. Examples would be: a weak brand, inexperienced staff, quality issues, etc.
Clarify opportunity #2 and make it more specific. It is unclear.
Revise threat #1. Threats are external to the company and not under your control but they can impact the business. Examples would be competition, the weather, an increase in supplier prices, etc.
You will use the revised matrix in Assignment 1 where you will also include a discussion under the matrix about the takeaways from this analysis.
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