Knowing your business's strengths and weaknesses: A simple SWOT analysis.

Friday, February 9, 2007

Business owners often wonder whether or not they are in a strong or weak position when compared to their competition. The SWOT analyzes a businesses strengths, weaknesses, opportunities and threats in order to help the owner/manager precisely where their business stands. The extended SWOT or E-SWOT compares the responses generated on the SWOT to determine an appropriate course of action.

The SWOT and the E-SWOT is easy to use and only takes a few minutes to complete with some foresight. The example below is provided for a simple SWOT and E-SWOT on The New Business World Blog (NBWB).

SWOT

Strengths • A solid base of readers has been formed with a high level of return visitors. • The cost of maintaining such site is considered relatively low. • NBWB has a three-time published author to write high-quality articles • The site uses research and authority to be the back bone of its articles....

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