In this case, you have four types of strategies at your disposal

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The buying power of rival companies can be difficult for small businesses, with limited reach and marketing budget restrictions can be seen as weaknesses. It might be difficult for a small business to compete with a chain, but there are many other ways small businesses can be competitive. Developing strong and meaningful relationships with customers, a service that cannot be provided by large companies, can be an asset to your company. 3. Seize opportunities Identifying opportunities, by evaluating strengths, provides a list of objectives to be pursued. Growing consumer interest in organic ingredients is a major opportunity.



Even if you have an absolute advantage over every other business British Student Phone Number List in the industry, not having the time, money or staff resources to maintain that advantage can result in losing those opportunities over time. The opportunities, depending on the business, will be different, therefore it is necessary to create a roadmap for capitalizing on them, whether they are internal or external. 4. Reduce threats Anticipating threats may be the most difficult challenge you will face at this stage. First of all because the threats are part of the external factors and are difficult to control. Regardless of the threat, which is different every time, responding and monitoring them are top priorities for the company.





In order to compete with competitors' prices, some businesses will have to compromise on some values, reduce staff or provide different services. Moreover, economic uncertainty cannot be avoided and is a continuous threat to a company's stability. Look at the cross-SWOT analysis so that you can see if it is possible to take advantage of an opportunity and reduce a threat at the same time. Strategies after Swott analysis Swot analysis now allows you to define a strategy that improves strengths, brings solutions to weaknesses, eliminates threats and capitalizes on opportunities. In this case, you have four types of strategies at your disposal: Offensive strategies Formulate them based on strengths and opportunities. They represent growth strategies and will bring together internal and external strengths to refine the company's image.