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Your Organization
Power of buyers
Global forces
Substitute products Social and cultural shifts Competitive rivalry Technology trends
Some external influences or factors have more direct impact on your business than others. Others just take a little longer to get there. By looking at your landscape in four areas, you wont miss anything that might be hiding on the horizon. The success or failure of your organization depends not only on your internal capabilities and resources (strengths and weaknesses, discussed in Chapter 7), but also on things that happen outside of your control (opportunities and threats). All of the information in this chapter helps you identify the forces, issues, trends, and events that can positively or negatively impact your business. What possibilities do you see on the horizon and where are the minefields? In this chapter, you identify potential opportunities and threats that may impact on your business. You discover some of the larger trends likely to impact all businesses over the next ten years as well as how to spot the ones not covered. Lastly, you bring all the pieces of your SWOT together to create a complete picture of your companys strategic position.
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1-3 years
5-10 years
Never
Opportunity or Threat
Dont forget to ask for help getting objective input from others helps you see parts you may have missed. The section Finishing Your SWOT Analysis later in this chapter gives you ideas about how to proceed, too. Additionally, use Figure 9-4 to spark some ideas.
When will this force impact our company? Now
1-3 years 5-10 years Never Opportunity or Threat
Increase in the number of competitors Potential for substitute products Increase in the power of our suppliers or vendors Increase in the power of our buyers or customers Greater intensity of rivalry between us and our competitors
To capture all your thoughts and keep them in order, create a note page with a line horizontally in the middle. Label the top section Opportunities and the bottom section Threats. Jot down thoughts about a new market under the opportunities section and ideas on a competitors action under Threats. (I use this same notation in other chapters when referring to notes.)