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SWOT - Coggle Diagram
SWOT
Convert Weaknesses into Strengths
Weakness Possible Response
Outdated technology - Acquire competitor with leading technology
Skills gap - Invest in training & more effective recruitment
Overdependence on a single product - Diversify the product portfolio by entering new markets
Poor quality - Invest in quality assurance
High fixed costs - Examine potential for outsourcing or offshoring
What it looks at?
Opportunities in the external environment
Internal weaknesses
Opportunities in the external environment
Internal strengths
What is aims to discover
What competitors do better
Whether it is making the most of the opportunities available
What the business does better than the competition
How a business should respond to changes in its external environment
Strengths and Weaknesses are?
Relate to changes in the environment which will impact the business
Are external to the business