Situation or Swat Analysis
" Swot analysis , by which it evaluates the company's overall strengths(S), weaknesses(W), opportunities(O), and threats (T) Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company's performance." - page 55 from class text book
Well for me I had to do a lot of thinking and figure out what to do with my yummy snacks that I got the inspiration to create them when I spent two weeks in Brazil. The first thing I had to look at was the strength of my product. So I figured who doesn’t want to try a new snack to eat at their local bar. Most bars that offer snacks is usually the standard nuts or pretzels. Then the next thing I had to look at what are the weaknesses of my product. I had to a lot to think about . This was going to be a challenge and my first time ever creating a product to be sold to the public. The opportunities I had in creating this tasty snack if I was successful was to create a little extra income for myself and if it was a success I could expand the market on my little snack . The threats I had well to be honest this was my first little business adventure and if I was careful I could potential waste not only my own money I could fail at this business venture. There is research I new I had to do and also to figure where I wanted my snacks to be sold. Then I have to think about where I will go to have them made what price to make my little snacks. I know one thing I will learn a lot in this whole process.
No comments:
Post a Comment