Increasing your situational awareness with a SWOT-TR analysis
Strategy is about positioning yourself successfully in the market to differentiate yourself from your competition. To do this, you need to know what’s happening in the market and what your competitors are doing.
This video gives an overview of the SWOT-TR (strengths, weaknesses, opportunities, threats and trends, risks) worksheet. Here is a quick summary of each section.
Strengths - Internal capabilities that will help you win in the market
Weaknesses - Internal attributes that a competitor could exploit
Opportunities - External market/industry characteristics you can exploit for success
Threats - External market/industry characteristics that make it harder for you to compete
Trends - Bigger picture changes in the economy, society, culture that could impact your success
Risks - Events or changes that could occur (but not guaranteed to) which would impact your success
Here is the link to the SWOT-TR worksheet PDF.
https://drive.google.com/open?id=1aMaD8foTkqO0911FuF-g-XvGkgVcw-bi
In addition, here are some articles and resources that explain these in more detail and give examples.
https://en.wikipedia.org/wiki/SWOT_analysis
https://www.thebalancesmb.com/every-business-needs-a-good-swot-analysis-1794147
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