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Develop the best strategy for entering the market

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Assignment 1: Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis

The assigned readings for Module 2 on strengths, weaknesses, opportunities, and threats (SWOT) analysis highlighted the importance of such an activity and provided the method of conducting it. 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.

Hints: • 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.

Reference no: EM132148347

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