You must have often heard of the term SWOT analysis, and every business must do it continuously. So in doing this SWOT analysis, what should be observed to make your store analysis more effective and efficient ?
Here are 5 things that must be observed to support the SWOT analysis.
1. Human Resources (Man)
Human resources is an important thing to be possessed by every store. The better the human resources that are owned by the store the more effective the performance of the store. A store must have the skilled human resources, attitude, and knowledgeable either, other than that human resources must be able to develop themselves to follow environmental and development of existing technology.
2. Method
The method is a way which is made by a store so that the goal can be realized. The method is meant the form of matters relating to the concept of marketing and sales, product promotion, safety, and information network.
3. Material
Quality, quantity, and price of a product being sold is included in the terms of the observation material. In addition to this, diversity and convenience products is also included in the terms of this observation. Each store has had superior products other than those owned by other stores. This material later will lead to an opportunity in the market.
4. Environment
Terms of the latter observation is the environment. Environment meant the location, convenience, trade competition, and also include government policy. A business will not be developed if environmental conditions do not support it. Therefore a business, in this case a store, the environment is an important factor in determining strategies to achieve success.
There's 5 things to look for strengths, weaknesses, opportunities, and threats, so be prepared a SWOT Strategy that can make your store won a business competition.
