Week 6

SWOT analysis

What do the four letters in SWOT stand for?

• Strengths: characteristics of the business or team that give it an advantage over others in the industry.
• Weaknesses: are characteristics that place the firm at a disadvantage relative to others.
• Opportunities: external chances to make greater sales or profits in the environment.
• Threats: external elements in the environment that could cause trouble for the business.

What is SWOT analysis?
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.

Find the objectives (at least two objectives) of one of the competitors in your field.


"Ruamsinthai book center"The objectives are want to be center of Stationery. Textbook full range ,sports equipment, and musical instruments.


Find two pictures (templates) which can help you know more about how to do SWOT analysis

http://en.wikipedia.org/wiki/SWOT_analysis

Expertise
noun /ˌek.spɜːˈtiːz/

Difinition : Basis of credibility of a person who is perceived to be knowledgeable in an area or topic due to his or her study, training, or experience in the subject matter.

Sentence of  “expertise”
He have expertise in legal matters.

http://dictionary.cambridge.org/dictionary/british/expertise?q=expertise



Strategic planning

Difinition : Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.

What is the relation between SWOT analysis and strategic planning?
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. 

What is the process of strategic planning (or How can you do strategic planning?)? 

The strategic planning process

All strategic planning deals with at least one of three key questions:

1. "What do we do?"
2. "For whom do we do it?"
3. "How do we excel?"

Strategic positioning

What is strategic positioning?

Strategic positioning is the positioning of an organization (unit) in the future, while taking into account the changing environment, plus the systematic realization of that positioning. The strategic positioning of an organization includes the devising of the desired future position of the organization on the basis of present and foreseeable developments, and the making of plans to realize that positioning.

2. Watch the video: Export Marketing Bootcamp -Positioning - Building a Strong Position 

http://www.youtube.com/watch?v=Yhzm5Fo6soU   

(1)   Why does a small business owner need to take into account strategic positioning? (Hint: Think about why not care strategic positioning?)         

Answer Because every business have to invest and we have to take into account for control of the cost and profit of our business.  

(2)   As a small business owner, what should you consider when finding a position in the market?

Answer i will consider with; 

Geography 

Product/Service offering 

Customer/Target audience 

Added- value/ Differentiation (a unique)  

(3)   After you find a position in the market, how can you know whether it is a strong position or not?

Answer  I can know by using:

                    1. Own-able; can we do it?      

                    2. Believable; will market believe we can do it?      

                    3. Compelling; to the market, does they care?    

                    4. Different; is it unique? 

Scarcity
/ˈskeə.sɪ.ti//ˈsker.sə.t ̬i

Difinition:  Scarce>> Food and clean water were becoming scarce in flood area.


Synonyms and Antonyms of Scarcity

Synonyms:	dearth, drought, exiguity, famine, inadequacy, infrequency, insufficiency, lack, paucity, rareness, rarity, scantiness, shortage, sparsity, stringency, uncommonness, want
Antonyms:	abundance, commonness, excess, surplus

Synonyms and Antonyms of Scarce

Synonyms:	at a premium, deficient, failing, few, few and far between, in short supply, limited, occasional, rare, scant, scanty, seldom, seldom met with, semioccasional, short, shortened, shy, sparse, sporadic, truncated, uncommon, unusual, wanting
Antonyms:	abundant, frequent, plentiful, sufficient

Ever-present situation in all markets whereby either less goods are available than the demand for them, or only too little money is available to their potential buyers for making the purchase. This universal phenomenon leads to the definition of economics as the "science of allocation of scarce resources."

adjective of “scarcity” is "scarce"

 Make a sentence of “scarce” and “scarcity”.

/-spɝː Scarcity >> The scarcity of skilled workers.