A firm looks for several key factors when conducting a SWOT analysis:
1. Strengths: Identifying the firm's internal strengths, such as unique resources, capabilities, or competitive advantages that set it apart from competitors.
2. Weaknesses: Recognizing the internal weaknesses of the firm, including areas where it may be lacking in resources, capabilities, or competitive disadvantages that put it at a disadvantage compared to its competitors.
3. Opportunities: Assessing potential external opportunities that the firm can capitalize on, such as market trends, emerging technologies, changing consumer preferences, or new government regulations that could benefit the firm.
4. Threats: Identifying external threats that the firm may face, including potential challenges from competitors, economic downturns, changing market dynamics, new entrants to the market, or negative shifts in consumer behavior.
Additionally, when considering future conditions and competitor actions, a firm may analyze:
1. Possible future conditions: Anticipating potential changes in the external environment that could impact the firm's strategies and operations, such as shifts in market demand, technological advancements, or regulatory changes.
2. Key resources and capabilities: Evaluating the firm's unique strengths and resources that can be leveraged to exploit opportunities and defend against threats, including tangible assets, intellectual property, strong customer relationships, or skilled workforce.
3. Likely actions of competitors: Predicting the strategies and actions that competitors may undertake in response to changing market conditions or new opportunities, such as entering new markets, launching new products, or engaging in pricing wars.
what does a firm lok for when doing a SWOT analysis
possible future conditions the firm may face
the firms may key resources and capabilities
the two most likely actions of competors
1 answer
1 answer