SWOT analysis business framework

SWOT analysis is a framework it helps in every sector and functions to measure the business condition, position, market-entry, etc. After careful analysis, we can get a market gap and get to know the most needed improvement. There are several business types are there like PaaS, SaaS, B2B, B2C, B2B2C, etc. but in every sector, this is the most used framework.

Strengths in SWOT analysis business framework

It is one of the core parts of any product, service, company, or organization. This part tells what is our strongest side like technological advancement, specific service facilities, low-cost products, premium features which our customers are getting from us. The unique strength of our management or people, sometimes a great eco-system. With little more elaboration

1. A specific technology which others don’t have and making us more efficient
2. Great governanace structure, people management, making product and service faster.
3. Trade secret strategy, a disruptive business model which is also a great unique point. etc.

Weaknesses part of this business framework

It is our competitor’s opportunity because they are watching us deeply as well as each and every time they are following our activities. Here are some examples

1. Skill gap, may be skill of our people, may be top line people’s skill gap, may be organizing skill gap. This gaps hurts the efficiency and fluency.
2. Maintanence gap, it could destroy culture, reliability
3. Technological gap, this gap also effects the efficiency by cracking the productivity. Especially the Time-bound part in SMART goal would get damage. machine, tools are always upgrading and each and every week or month new features are coming so, if company or our people are not updated then it could be create big market gap for the others.
4. Value gap, it’s basically customer oriented. Does the customers are getting proper value or not. Proper value addition is must needed thing in every product and services

Other than these many are there. These are the main disadvantages. We have to correct these mistakes rapidly if are there.

Opportunities part of this framework

As we all understand from the previous which would be our opportunities. Obviously, competitor’s weaknesses are our opportunities to enter the market or disrupt the market. Other than these there are some factor could create a market gap and those are

1. Govt. new policy, this factor could effect the market hugly. Some times bulky industries can’t switch according to the new rule and regulations.
2. Research and Development’s new innovation could create a desent opportunity in the market. In this case we have to execute the new strategy fast and acquire that innovation first. According to the Adoption curve we would be in early innovators or early adoptors position
3. Crisis or pandemic could also create a market gap, this is rare but recent days we know better by seeing this

Threats in SWOT analysis business framework

As we all know SWOT analysis business framework always tells us different views of different businesses. Threats are different for different industries. Some time opportunities could be your threat and sometimes our weaknesses could be our biggest threat. In these cases always improvement, improvisation, fast execution, and adaptation are needed. Here are a couple of examples

1. New technology could be our threat if that technology we don’t know or our people don’t know.
2. New competitor could be a threat because when competitors came into the market, they did some research and they have something to disrupt the market. This is actually disruptive business model.That’s why we shouldn’t take lightly if new competitor came.
3. New trends or new market creation it’s one sided in minimum time interval huge amount people or industry just shifted to another behaviour. JIO is the greatest example.
4. Sometime Government rules and regulation change could be a biggest threat like new policy, new scheme etc.