How can a company boost its strengths?
Opportunities are external factors which the company may be able to use to boost their strengths and/or to change their shoes into a brighter situation with such as modern technology inventions, market growth, change in consumer’s behaviour, current problems resolutions etc. Successful companies do not stay stable but always scan for opportunities to thrive. To figure out some opportunities that could be beneficial to the company’s business, it is necessary to answer to the following questions.
- What good opportunities can you spot?
- What interesting trends are you aware of?
Useful opportunities can come from such things as:
- Changes in technology and markets on both a broad and narrow scale.
- Changes in government policy related to your field.
- Changes in social patterns, population profiles, lifestyle changes, and so on.
- Local events.