Sunday, May 17, 2009

SMEs - Step 6 in the business planning process

The sixth step is the SWOT analysis. Essentially this is an analysis of the firms strengths and weaknesses in the context of the PESTEL analysis.

Remember that not everything in the environmental analysis is relevant to your business.

PESTEL + Weaknesses = Threat


PESTEL + Strengths = Opportunity

The secret to the SWOT analysis is to be realistic and objective in your analysis.

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