How to do a SWOT analysis (part 2)

Step 2. Analysis of the business environment
In this step of the SWOT analysis, we must analyze in more detail all of the above factors and understand what they actually represent for us and our business. We will do this, as you might imagine, through a few questions. Here they are:

19. What legal factors can be a threat to our business, and which opportunities?

20. What political factors for our business can be a threat, and which opportunities?

21. What environmental factors can be a threat to our business, and which opportunities?

22. What economic factors can be a threat to our business, and which opportunities?

23. What geographical factors can be a threat to our business, and which opportunities?

24. What social factors can be a threat to our business, and which opportunities?

25. What technological factors can be a threat to our business, and which opportunities?

26. What cultural factors for our business can be a threat, and which opportunities?

27. What market factors for our business can be a threat, and which opportunities?

28. How and how much does competition and competitors influence (or may influence) my business? What are my strengths and from this point of view?

29. How and how does management and business management affect (or can influence) my business? What are my strengths and weaknesses from this point of view?

30. How and to what extent does the selected business strategy affect (or may affect) my business? What are my strengths and weaknesses from this point of view?

31. What is the structure of the business, how and how much influences (or can influence) my business? What are my strengths and weaknesses from this point of view?

32. How and to what extent do employees and team influence (or can influence) my business? What are my strengths and weaknesses from this point of view?

33. How and to what extent do business goals affect (or may affect) my business? What are my strengths and weaknesses from this point of view?

34. What leadership qualities, how and how much influence (or can influence) my business? What are my strengths and weaknesses from this point of view?

35. What are the factors of operational management, how and how much affect (or can influence) my business? What are my strengths and weaknesses from this point of view?

36. What business technologies, how and how much influence (or can influence) my business? What are my strengths and weaknesses from this point of view?

So, having analyzed the answers to these questions, we will be able to understand where we are strong enough or even ahead of competitors, and in what we need to add or what to be afraid of. Such information is very valuable. On it you will base a huge number of business decisions.