In SWOT analysis….
1 – Threat, it’s hypothetical
2 – Weakness, it’s real
Similarly strengths are things you already have, opportunities are strengths you could have if actions are taken (by you, or I suppose the other company could fail to capitalise on what you’ve said and lose market share).Posted 1 year agothisisnotaspoonMember
I was always told weaknesses are internal and threats are external. Been years since I last did one though
I’ve been told both, depends which
management consultantsnake oil salesman is sat in front of you.
I suppose you could argue it’s the same thing, an opportunity/threat that’s external requires something to happen (or not happen) to make it a strength/weakness. E.g. your USP is only a strength because there was a gap in the market (an external thing, an opportunity) and you moved the company into it (making it a strength). The threat (external) is that someone else might do the same (and action, making it a weakness).
I prefer the other way of thinking about it as you can then split your opportunities and threats into short, medium and long term items.Posted 1 year ago
short – can do nothing to influence the outcome, can only deal with the consequences. e.g. you’re already on a course to learn something, the opportunity is what you do with it.
medium – can only influence the outcome, but can’t avoid it. e.g. you can see a market crash coming, what’s the plan to cope with it.
long – if you take action now you can influence it happening at all. e.g. you can see the market crash coming, and have time to switch markets entirely.rickonSubscriber
The weakness is not having a unique USP / having a copyable business model.
The threat is that someone will or is copying it.
What I would have said too, being a Business Strategist. 🙂
That said, those things don’t matter. Every business model is replicable, and USPs are nonsense. It’s execution that really matters. Dyson wasnt the first person to patent the cyclone vacuum cleaner, the first patent was in the 1920s. The difference was his execution.
If you think you’ve got a USP and a non-replicable business model, you’re deluded. That or you’re already a multi-national with huge funding.Posted 1 year ago
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