Week 2

This week, we studied SWOT analysis, a tool for strategic planning that helps determine the Strengths, Weaknesses, Opportunities, and Threats of a business. Here's simple example:

Think of a tiny café.

Strengths:

Excellent location: The café is situated in a crowded, well-traveled area.
Specialty coffee blends: Provides premium and distinctive coffee blends.
Strong client loyalty: recurring business and positive word-of-mouth.

Weaknesses:

Restricted seating: The café is a tiny area with a modest number of seats.
Exorbitant costs: The costs are more than those of competitors.

Opportunities:

Extend menu: A chance to include additional food and beverage options.
Online delivery: Potential to create an online delivery service.

Threats:

New rivals: Possibility of new coffee shops nearby popping up.
Economic downturn: Problems with the economy that could lower consumer expenditure.
Disruptions to the supply chain: Possible issues obtaining coffee supplies.

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