Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis
In this assignment, you will conduct a hypothetical strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Envision you and a handful of colleagues wish to start a business. In order to develop the best strategy for entering the market, you need to conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis.
Perform the following:
- Select a product or a service to base the business on.
- List (at least) four strengths, four weaknesses, two opportunities, and two threats. These should be thoughtful and realistic for a start-up organization.
- Outline the business strategy on the basis of the results of the strengths, weaknesses, opportunities, and threats (SWOT) analysis.
- Leverage your small, agile size and innovative product/service for strengths.
- Consider the downside of being new and small for weaknesses.
- Think big for opportunities.
- Beware of the market leader or technology changes as threats.
- All of these should be tailored to the selected product or service.
The startup business that I developed is one that will allow individuals to rent vehicles from their neighbors using a mobile phone application. The startup is necessitated by the fact that many people have vehicles that they are not using at their homes…