Personnal Swot Analysis

SWOT Analysis

I will conclude a swot analysis for my business so that I can identify the strengths and weakness of the business, also to identify the opportunities and threats facing it.

A common approach is to use SWOT analysis (strengths, weakness, opportunities and threats) to draw together all the evidence from the various techniques used. It is a way of producing a summary which then provides the basis for developing marketing objectives or aims, and ultimately strategies or plans.

Strengths, weakness, opportunities and threats analysis provides a framework within which marketers can identify significant developments in markets.

Strengths

The strengths of my business are

• Not much local competition

• Young and energetic entrepreneurs

• Unique product (home-made and well cooked hot meals)

• Large group of people to target

Weakness

The weakness of my business is

• Little entrepreneurial experience

• Shortage of investment capital may limit expansion

• No established reputation

• Limited experience in the prepared food trade

Opportunities

The opportunities for my business would be

• 'Time-poor'