Battlefield

Giving a scenario, you are about to be sent into a battlefield, what do you check first? Isn't it you first check your weapon? Check if your weapon has bullet / arrow / is sharp? Then you check the threats within the area and check where the best place you will probably survive? Just like in a business when you are entering a business / industry you need to first check your own business to know if you are really ready, then check the threats that may harm your business and for your business to move ahead than your competitors. I have learned through this topic weaknesses that must be addressed immediately especially if these weaknesses is a great factor for the threats that may harm your business.

The opportunities and threats are external factors of the business which includes analyzing your competitors and the environmental factors that may hinder your business to progress. Just like the scenario after you've analyzed your position is and where you are entering this battlefield will lead you to strategize and know your game plan.

But in business as I learned during the discussions your strength is not a strength if your competitor is also the same. SWOT analysis gives you a map or guide that prepares you on what may come and if you are prepared to face those trials.

In business what you have today may have been outdated or will have no effect on your future thus, swot analysis must be a continuous activity that should be done by the company.