Applying S.W.O.T. Analysis for Knoxville Companies
S.W.O.T. stands for Strengths, Weaknesses, Opportunities, and Threats. But how do you put this into action?
Our good friend at Wikipedia expand on these terms with the following explanations:
- Strengths: characteristics of the business, or project team that give it an advantage over others
- Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others
- Opportunities: external chances to improve performance (e.g. make greater profits) in the environment
- Threats: external elements in the environment that could cause trouble for the business or project
To put it succinctly, a S.W.O.T. puts in plain terms the good, the bad and the ugly of your business. And a thorough S.W.O.T. analysis is part of any solid business plan. Should your marketing plan be anything less? We don’t think so. That’s why a thought-out S.W.O.T. analysis is part of every marketing plan we do.
Give us a solid chance to get to know you and your business. Our time and attention are sure to make your project that much more successful.