How do you determine a strategy
SWOT analysisSWOT analysis for strategic planning
Opportunities and risks that arise from the development of environmental factors are often difficult to assess and evaluate. Because here you look into the future that cannot be predicted. It is always an open question whether a development occurs as expected, whether it is so strong and takes place so quickly. Timing plays an important role, especially when taking advantage of opportunities.
With the results of the SWOT analysis, you can narrow down and better estimate how the many possible influencing factors will develop and what consequences this could have for your company. By combining opportunities and risks with the company's strengths and weaknesses, you can make better use of potential and specifically limit or avoid dangers. The following possibilities can be derived from the SWOT analysis:
Opportunities are opportunities and potentials that you should take advantage of.
The corresponding influencing factors from the environment result in additional market potential or new customer segments. It may also help you improve your products or reduce the cost of them. It is important to recognize the opportunities and evaluate them correctly. Then ideas, projects and resources are needed to develop them.
Risks can rarely be completely avoided.
Risks, threats and threats to your company must be assessed in terms of the likelihood of their occurrence and the importance and consequences for the company. Some risks can be taken, others should be avoided as far as possible by looking for alternatives, developing new products or addressing other customer segments.
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