Also known as SWOT analysis, it is a very effective method for understanding everything that can influence the growth or decline of a brand, product or company.
Eventually, companies settle for knowing the competitive advantage that can help kuwait whatsapp numbers their product stand out and, based on that data, create strategies to strengthen their brand and make it survive in the market.
It turns out that with SWOT analysis, there is not only the opportunity to know the advantages that put you above the competition. This method will provide details that go beyond knowing channels to connect with the niche.
This type of analysis will help you see clearly everything that has to do with the process of achieving success and staying as strong as possible. External factors such as politics, environment and culture can be managed if you know how to take the right approach.
What is a SWOT analysis
SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats . It is known as SWOT and refers to weaknesses, opportunities, strengths and threats. This method can be used both to make a simple personal decision and to make decisions that change the course of a company.
There are those who believe that deciding the future of a company through SWOT analysis is a simple matter, but the truth is that this goes beyond being aware of weaknesses and strengths.
In theory, this may sound very practical, but when you start to learn more about your company's environment, you'll see that it's serious business and there are many factors that affect your brand image.
What does Wikipedia tell us?
“It is a tool to understand the real situation of an organization, company or project, and to plan a strategy for the future. This resource was created in the early seventies and produced a revolution in the field of business strategy. The objective of the SWOT analysis is to determine the competitive advantages of the company under analysis and the generic strategy to be used by the company that best suits its own characteristics and those of the market in which it operates.”
To continue the concept of Wikipedia , we believe that those who practice it have solid foundations to create and implement strategies that refuse to die despite the difficulties of the environment. This is so because, from now on, they can predict what will happen in the future.
What do Thompson and Strickland tell us about SWOT analysis?
Both made their name as American university professors and business strategists. AJ Strickland sees SWOT analysis as building a strategic balance sheet.
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This should be based on creating strategies with stronger competitive assets than competitive liabilities.
For his part, Arthur A. Thompson clarifies that the most important aspects of the SWOT analysis are the weaknesses and strengths . He recommends taking into account strengthening elements such as:
The capabilities of the key areas of the company (Customize it to the subject you want to evaluate)
Financial resources.