SWOT Analysis :: Business, Administration, Analysis

SWOT AnalysisThis type of analytic thinking is designed to help identify several areas of a business that may need improvement and other areas where the guild may be adapted to improve upon. SWOT is an acronym for Strength, Weakness, Opportunities and Threats. A company should consider this analysis to be wiz of the nigh important steps to becoming one of the starring(p) stores and schools of this nature in the area.A business idea dos started by getting knowledge of a product, market or skill. In this case, the companys idea got started from the skills gained from years of diving and love of water and marine life. These things enliven the owner to start his business. One of the most difficult things to identify as a business owner and as an entrepreneur is that area where the company or owner is lacking strength. When considering a business venture, normally one is not looking at the negative factors of the business itself. In most cases, the entrepreneur looks at the pos itive factors that can help his business get started. SWOT AnalysisStrengthsHighly Qualified StaffReasonable Prices everywhere 20 years experience in the businessOffers scuba gear, training, certifications & eco trips intimately rapport with customersWeaknessesLack of mission statement on the website Lack of contender Limited funds (Typical in small businesses)Over $200k in inventorying (Too much capital invested in inventory)OpportunitiesVirtual store (Offering used equipment and realistic equipment trade-in) New retail store Proper advertisement (Direct mail, sponsorships, place mats, radio, telly advertisement, travel and sports magazines, Verizon yellow book etc.