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Entrepreneurship

Entrepreneurship. SWOT Analysis. Definition. A situation analysis where internal strengths and weaknesses of an organization are examined in line with potential opportunities and threats to chart a strategy. S trengths W eaknesses O pportunities T hreats. Strengths.

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Entrepreneurship

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  1. Entrepreneurship SWOT Analysis (C) Krystle Attard 2013

  2. Definition • A situation analysis where internal strengths and weaknesses of an organization are examined in line with potential opportunities and threats to chart a strategy Strengths Weaknesses Opportunities Threats (C) Krystle Attard 2013

  3. Strengths • A firm’s strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage Examples: • patents, brand names, reputation, cost advantages, access to resources, distribution networks (C) Krystle Attard 2013

  4. Weaknesses • Absence of strengths or threats to profitability • Deals with product features from production to sales and marketing stages Examples: • patent protection, established competition, price vs. quality balance, limited access to resources (C) Krystle Attard 2013

  5. Opportunities • The external environmental analysis may reveal certain new opportunities for profit and growth Examples: • An unfulfilled customer need • New technologies • Loosening of regulations • Less international trade barriers (C) Krystle Attard 2013

  6. Threats • Changes in the external environmental also may present threats to the firm Examples: • Shifting consumer tastes • Substitute products • New regulations • Increased trade barriers • Increased overheads (C) Krystle Attard 2013

  7. SWOT Matrix • A firm should not necessarily pursue the more money-spinning opportunities • There may be a better chance at developing a competitive advantage by identifying a balance between the firm’s strengths and upcoming opportunities (C) Krystle Attard 2013

  8. The SWOT Matrix (C) Krystle Attard 2013

  9. SWOT Matrix: Opportunities S-O Strategies: • pursue business opportunities which fit in with the company’s established strengths W-O Strategies: • overcome weaknesses to pursue opportunities (C) Krystle Attard 2013

  10. SWOT Matrix: Threats S-T Strategies: • identify ways how to use the firm’s strengths to reduce its vulnerability to external threats W-T Strategies: • establish a defensive plan to prevent the firm’s weaknesses from making it highly susceptible to external threats (C) Krystle Attard 2013

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