Used to maximize the identified opportunities
Dec 3, 2023 3:57:50 GMT -5
Post by account_disabled on Dec 3, 2023 3:57:50 GMT -5
Therefore, now that you have the matrix filled out in all its quadrants, it is time to analyze the possible movements. Our advice is to see how strengths, weaknesses, threats and opportunities relate to each other. The goal is to maximize the positive points and minimize the negative ones . For example, look at your strengths and identify how they can help boost the business by taking advantage of the opportunities observed. Your company's strengths can also help minimize the impacts of threats. Look at the possibilities of strategies combining the information presented: Strengths + Opportunities What company strengths can be ? In the case of the bookstore, the breadth of the offer maximizes the opportunity to enter virtual sales.
Then, you would be able to make a strategic decision: focus your advertising Phone Number List messages on the wide variety of books. Strengths + Threats What company strengths can help minimize the impact of threats? For example, the reputation of the bookstore can reduce the threat of entering a market with strong competition, since the brand is established. So, an important strategy would be to maintain the same name and visual identity on the website. Weaknesses + Opportunities What actions can you do to minimize weaknesses through the opportunities raised? The use of smartphones for online shopping is a significant opportunity, but it will only be realized if the company takes one action: adopt an integrated inventory system for all its points of sale.
Weaknesses + Threats What actions can you take to reduce or eliminate weaknesses and minimize the effect of threats? In the case of the bookstore, the lack of know-how, combined with strong market competition, is a serious problem. To reduce this impact, an important action would be to hire a specialized company to structure the e-commerce operation. Ready, now your analysis is complete! You are now provided with various information to make your decisions with more confidence.
Then, you would be able to make a strategic decision: focus your advertising Phone Number List messages on the wide variety of books. Strengths + Threats What company strengths can help minimize the impact of threats? For example, the reputation of the bookstore can reduce the threat of entering a market with strong competition, since the brand is established. So, an important strategy would be to maintain the same name and visual identity on the website. Weaknesses + Opportunities What actions can you do to minimize weaknesses through the opportunities raised? The use of smartphones for online shopping is a significant opportunity, but it will only be realized if the company takes one action: adopt an integrated inventory system for all its points of sale.
Weaknesses + Threats What actions can you take to reduce or eliminate weaknesses and minimize the effect of threats? In the case of the bookstore, the lack of know-how, combined with strong market competition, is a serious problem. To reduce this impact, an important action would be to hire a specialized company to structure the e-commerce operation. Ready, now your analysis is complete! You are now provided with various information to make your decisions with more confidence.