SWOT analysis
Contents |
[edit] Introduction
SWOT analysis is a planning method that can be used for evaluating a company, business or project based on its:
It works by identifying the objectives of the business or project before assessing various aspects of it, both internal and external, which are a help or hindrance to achieving those objectives. Businesses can use a SWOT analysis to improve their market competitiveness and resilience.
In construction, SWOT analysis can help companies assess where they stand within the market, enabling them to anticipate how changing economic conditions, new rivals, etc. might impact on their business.
[edit] Strengths
The strengths of a construction company might include their efficiency and ability to remain on-schedule, a well-established brand name, a diversified range of projects and skills and so on. Factors that can be considered as part of an analysis of strengths include:
- The advantages the organisation has.
- What the organisation does better than others.
- Resources that can be drawn on distinct from others.
- The market’s view of the organisation’s strengths.
[edit] Weaknesses
Weaknesses might include; having a large proportion of business with one client, in one sector, or in one particular area, a management team lacking certain skills and experience and so on. Factors that can be considered as part of an analysis of weaknesses include:
- What the organisation could improve.
- What the organisation could avoid.
- The market’s view of the organisation’s weaknesses.
- Things about the organisation that could lose or be detrimental to business.
[edit] Opportunities
Opportunities can arise from; expanding a business, changing government policy, using expertise of a particular sector to anticipate where the market will go next and so on. This involves keeping a close eye on the industry and its influences and trying to spot trends that can be exploited before rivals do.
[edit] Threats
Some threats to an organisation can be external and beyond control, such as a slow-down in the industry or a negative change in government policy (e.g. rising tax rates). Other threats may be internal, such as poor management, debt, cash flow problems, lack of investment, lack of expertise, and so on. Factors that can be considered as part of an analysis of threats include:
- Potential obstacles to success.
- Competition from rivals.
- Changing standards or regulations.
- Changing technology.
- Whether any of the identified weaknesses could threaten the business.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Cladding remediation programmes, transparency and target date.
National Audit Office issue report on cladding remediation.
HBPT and BEAMS Jubilees. Book review.
Does the first Labour budget deliver for the built environment?
What does the UK Budget mean for electrical contractors?
Mixed response as business pays, are there silver linings?
A brownfield housing boost for Liverpool
A 56 million investment from Homes England now approved.
Fostering a future-ready workforce through collaboration
Collaborative Futures: Competence, Capability and Capacity, published and available for download.
Considerate Constructors Scheme acquires Building A Safer Future
Acquisition defines a new era for safety in construction.
AT Awards evening 2024; the winners and finalists
Recognising professionals with outstanding achievements.
Reactions to the Autumn Budget announcement
And key elements of the quoted budget to rebuild Britain.
Chancellor of the Exchequer delivers Budget
Repairing, fixing, rebuilding, protecting and strengthening.
Expectation management in building design
Interest, management, occupant satisfaction and the performance gap.
Connecting conservation research and practice with IHBC
State of the art heritage research & practice and guidance.
Innovative Silica Safety Toolkit
Receives funding boost in memory of construction visionary.
Gentle density and the current context of planning changes
How should designers deliver it now as it appears in NPPF.
Sustainable Futures. Redefining Retrofit for Net Zero Living
More speakers confirmed for BSRIA Briefing 2024.
Making the most of urban land: Brownfield Passports
Policy paper in brief with industry responses welcomed.
The boundaries and networks of the Magonsæte.
Comments