SME, SMB, SMME, all the debate and info: SMEs - Step 6 in the business planning process

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

and

PESTEL + Strengths = Opportunity

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

No comments:

Subscribe to: Post Comments (Atom)

Book list

The E-Myth - Michael E Gerber **** This is one of the few books that I have read where so far I agree with everything said. Great read for every SME owner.
Your Emerging Business … Make Sure It Survives! – The Hexagon Stairway To Success - T Ek & J Kusik **** This is the best book I have ever read for the entrepreneur wanting to understand the implications of growth in her/his business. If you need a how to manual for growing your business read this book.
Woz - Biography by Steve Wozniak of Apple fame. For anyone in IT from the early days it provides an interesting insight. I thoroughly enjoyed the book, but an independent editor would have made it a brilliant read. Still worth reading however.
Donald Trump - Think Big and Kick Ass. A very good book for entrepreneurs. While I do not endorse his litigious suggestions, I thoroughly endorse his points about limiting ourselves. Even made the kids read this book. The book has two people writing of which the one is Trump. The other writer simply endorses and adds little value. An annoyance in fact.
Starbucks - This book investigates Starbucks. You come away with a good insight into the company, but you are also left with the feeling that the author suspects but cannot prove that their almost perfect track record is due to manipulation of one sort or another. You do not feel that there is an Enron brewing, but there is fire somewhere. A good read and some excellent insights into the Starbucks strategy and marketing. Well worth the read.
Jim Collins - Good to Great. An excellent read for the entrepreneur wanting to grow a big business.