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urgent help with swot analyiss is for my business courseworkthanks a lot...........?
hello iam stuck on this task fo my business coursework its about swot analiysis in my coursework iam opening my shop in a shopping mall my shop will sell sports equipment and i will order most of the equipment frin a abord i have done my swot analiysis but i think that iam wrong can u please check and coorect me please thanks a lot for ur help in advance SWOT Analysis for my business enterprise Strength;- my strength is that I will buy all the equipment from aboard that would be cheaper and safe money , and I would make some profit if I do this way It will attract more customers. Weakness;- The weakness will be that I will order all the equipment from aboard. They can some times be a delay with the delivery that is a weakness Opportunities;- Threats;- The local competition of my sports shop is a threat as they are offering the same style of services and goods likes my business they could end up like my business wht else can i wright in the chart iam soory i know my english is not that good and its muddled up but i hope that you can help me thanks a lot for ur help :-) ur a life saver
4 months ago - 2 answers
Best Answer
Chosen by Asker
Strengths: unique, if you are buying equipment from abroad, it may be cheaper so you can sell it for more money and get more profit Weaknesses: products from abroad may not have the same safety laws, so may not be entirely safe. Also sports equipment may not be demanded in the area you are selling in Opportunities: expansion possibly after a year when the business becomes more well known. Threats: similar businesses close to where yours is situated. Start up capital may not be enough and you may have trouble during your first year. Hope I have helped. I did a similar thing for my coursework xxx
4 months ago
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Other Answers
A common mistake in attempting to do a SWOT analysis is trying to come up with strengths, weaknesses, opportunities and threats like making a list of red flowers, blue flowers, yellow flowers and so on. SWOT analysis is a summary of the conditions/factors that will affect your proposed business. So, you need to ask yourself all the questions you can think of that might have a bearing. For example: Do you have the money? If you do, do you have more than enough? If so that is a Strength, if you have to borrow it all, then that might be a weakness. I say might be because if the lender was offering an interest free loan repayable after twenty years then that would be a Strength. Are there lots of suppliers for your stock? If there are that is a Strength, if there are only one or two then it is a weakness. What is the market environment you are entering? Are there lots of people starting this kind of operation? This could be an Opportunity or a Threat depending on the actual circumstances. Are you starting from scratch or buying out an existing business? Is your business eligible for support from local or national government, or is it discouraged by them? Is the market you are selling into on the way up or on the way down? How big is your customer base? Is it likely to grow or not? Are your proposed customers getting more or less affluent? Would the condition of the wider economy be good or bad in your case? To help with the questions to ask yourself try to look at other businesses or at case studies to learn why one business succeeded while another failed. What would the questions have been that would have given them the answers revealed in the case studies? I hope that this is of benefit to you.
by Peter C- 4 months ago