At some time we've talked about the sense of a SWOT Analysis and the 5 Things That Should Be Observed In Determining The SWOT Analysis. This time we will discuss strategies that will be based on the results of the SWOT analysis.
Basically this determination SWOT strategy is an action or decision made based on a combination of internal conditions themselves with the external influences that affect the continuity of business.
These strategies are:
1. Strength-Opportunity Strategy (SO Strategy)
This strategy is a blend of power possessed by a business entity with opportunities or opportunities that can benefit the company.
2. Strength-Threat Strategy (ST Strategy )
In the ST strategy, the results of an internal force analysis of a business entity owned, will be used to make decisions in the face of threats that may disrupt the continuity of business carried on.
3. Weakness-Opportunity Strategy (WO Strategy )
In this strategy, the weakness which may be owned by the company will be reduced and even eliminated possible to grab the opportunities that exist.
4. Weakness-Threat Strategy (WT Strategy)
The decision in this strategy is probably the most complicated to be decided as compared with previous strategies. Each company will always compete to gain market share there. Other companies will analyze the weaknesses that may be owned by your store, and they are waiting for the right to attack you, and it is a threat to the sustainability of your business. WT strategiy are defensive strategy designed to confront the threat from competitors who might attack the weaknesses that are owned by the company.
To be more clear about the relationship with the internal conditions of the external conditions to decide on a strategy of SWOT, consider the following chart:
Whatever form of business, both retail and production efforts of business, strategy and SWOT analysis is always used. To better understand the analysis and strategy, please see the Case Study: A SWOT Analysis In Retail Stores as an example of implementation of the SWOT analysis and strategy in a business.
