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Student Learning Objective 3

Recognize the role of management in total quality management

Learning Objective A

Make use of SWOT analysis for strategic planning

Content

Strengths-weaknesses-opportunities-threats (SWOT) is a traditional business tool used for strategic planning. A SWOT analysis is both focused on internal and external forces and agents.

Slide 2: SWOT Analysis

  • Strengths-Weaknesses-Opportunities-Threats
  • Strategic planning
  • Strengths and weaknesses are internally focused
  • Opportunities and threats are externally focused

Slide 3: SWOT Questions for Strengths

These are positive, internal factors that affect how your business performs. Although they may be difficulty to change, they should be within your control:

  • What are we good at?
  • What do we do better than anyone else?
  • What is our competitive advantage?
  • What do we do that no one else does?
  • What resources do we have at our disposal?
  • What are our ecommerce company's advantages?
  • What advantages do our employees have?
  • What valueable assets does our company have?
  • What do our customers like about our business?

Notes:

  1. Material taken from https://www.shopify.com/blog/74665093-want-to-future-proof-your-business-try-a-swot-analysis (no longer available)

Slide 4: SWOT Questions for Weaknesses

These are negative, internal factors that affect how your business performs. Although they may be difficulty to change, they should be within your control:

  • What are we bad at?
  • What do our competitors do better than us?
  • What do our customers complain about?
  • What disadvantages does our team carry?
  • What is holding us back?
  • Which resources are we lacking?
  • What could we improve?

Notes:

  1. Material taken from https://www.shopify.com/blog/74665093-want-to-future-proof-your-business-try-a-swot-analysis (no longer available)

Slide 5: SWOT Questions for Opportunities

These are external factors that could affect your business in a positive way. They may be largely out of your control, but you can choose to leverage them:

  • What potential regulation changes could help our business?
  • Is the market changing in a favorable way?
  • Is the current economy going to affect us in a positive way?
  • What opportunities have we not pursued yet?
  • What new opportunities are becoming available?
  • Is our cost of goods going down?
  • Is there a way for us to acquire useful resources that we do not already have?

Notes:

  1. Material taken from https://www.shopify.com/blog/74665093-want-to-future-proof-your-business-try-a-swot-analysis (no longer available)

Slide 6: SWOT Questions for Threats

These are external factors that could affect your business in a negative way. They may be largely out of your control, but you can create a contingency plan to minimiz the damage:

  • Who are our existing competitors?
  • What new entrants to the market could threaten our ecommerce business?
  • Is our market size declining?
  • Is the industry changing in a way that could negatively impact our business?
  • Is our cost of goods increasing?
  • Is a supply we rely on becoming scarce?
  • Are regulations changing in a way that could hurt our business?
  • Is our manufacturer unreliable?

Notes:

  1. Material taken from https://www.shopify.com/blog/74665093-want-to-future-proof-your-business-try-a-swot-analysis (no longer available)

Slide 7: Amazon SWOT

  • Strengths
    • Most recognized and trusted e-commerce brand worldwide
    • Remarkable logistics offer unmatched customer experience
    • Retail competitors serve as unwilling "Amazon showrooms"
  • Weaknesses
    • Wide range of offerings, including some marginal and risky "blue sky" endeavors
    • Persistent report about potential safety and labor concerns at Amazon facilities
    • Extremely low margins on many offerings, further compromised by free shipping

Source: https://www.bluleadz.com/blog/top-3-swot-analysis-examples

Slide 8: Amazon SWOT

  • Opportunities
    • Launch of new headquarters offers both economies of scale and great publicity
    • Brand poised to benefit hugely from the development of in-house TV and films
    • Significant - maybe even unique - chances to grow operations in global markets
  • Threats
    • Smaller online retailers often outperform Amazon in specific niches on price and quality
    • Expansion has highlighted Amazon as a regulatory target, spurring aggressive taxation
    • The retail-VR transformation in the coming years may present unexpected challenges

Source: https://www.bluleadz.com/blog/top-3-swot-analysis-examples

Appendix

Shopify Strengths Screen Capture

Shopify Strengths

Shopify Weaknesses Screen Capture

Shopify Weaknesses

Shopify Opportunities Screen Capture

Shopify Opportunities

Shopify Threats Screen Capture

Shopify Threats