Applying the SWOT Analysis
A large part of the success of the SWOT analysis is how you launch your strategy based on the information you received. Listing down and identifying all the strengths weaknesses, opportunities and threats has no value if you can’t implement a strategy.
You have to use the strengths of your business as well as take full advantage of the opportunities that come your way. You need to minimise your businesses weaknesses.
You must develop ways to improve on your businesses weaknesses or eliminate them completely. Combining this with avoiding threats or combating threats will make sure your business will deliver successful results.
A SWOT analysis’s true value is to combine all of these categories together and combine all of the information. This analysis is used to help determine the most favourable circumstances as well as the most severe concerns.