Strengths of the Organisation may include:
- Strong Market penetration;
- Stable financial position;
- Stable infrastructure;
- Good market image;
- Highly skilled workforce;
- Investment in new equipment and tooling; and
- New products developed awaiting launch – positive market feedback and research.
Weaknesses would be the opposite of this. Weaknesses look at the following:
- What could you do better?
- Things to stay away from.
- What are people in your market likely to see as weaknesses?
Again, these need to be considered internally and externally: Do other people seem to perceive weaknesses that a company cannot see? Are their competitors doing any better? It is best to be realistic and face unpleasant truths immediately.
Opportunities
These will often come from external factors (such as those highlighted within the PESTLE discussed below).
- Where are the good opportunities facing the company?
- What are the interesting trends a company is aware of?
Beneficial opportunities can arise from things like:
- Shifts in markets and technology, both generally and specifically,
- Changes in government policy related to the company’s field of expertise,
- Alterations in demographics, social patterns, and
- Modifications to lifestyle.
- Local events.
A helpful way to look for chances is to consider your talents and determine if they present any opportunities.