Donna Probes: Give your business a SWOT

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If you’ve been in business for a while or if you follow the corporate world, you’ve probably come across the term SWOT analysis.This is a technique that is used to evaluate your business and get a better understanding of your position in the industry. It involves identifying your company’s Strengths, Weaknesses, Opportunities and Threats.This analysis is easy to do and should be done about every two years. It is a powerful tool to help you understand what you are doing right and what needs to be changed.
Starting with your strengths, make a list of all the things your company does exceptionally well. How have you maintained a competitive edge in the marketplace? What do your past and current customers love about you? What is your unique selling point? Do you have proprietary resources that your competitors do not have? This is a chance to affirm what is working and to celebrate the success you have had.Now, focus on your weaknesses or the areas of your business that need to be improved. This can include such things as a need to change the organizational structure of your company, not having enough skilled employees, dealing …

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