Strategic planning for business growth

Include any information on any strengths, such as:

• advantages of the proposition, product or business
• product capabilities
• competitive advantages over rivals
• innovative aspects of the product/business
• any unique selling points
• resources, assets, people
• experience, knowledge, and data
• processes, systems, IT and communications

Examples:

• product is superior to other competitors
• product lifespan or durability
• costs - compared to competitors
• manufacturing processes are efficient
• IT system can easily handle expansion

Include information on any weaknesses, such as:

• disadvantages of the proposition, product or business
• gaps in capabilities
• competitive weakness versus other similar businesses
• financial constraints
• poor processes and systems
• lack of necessary accreditations
• restrictions on IT, systems or communications

Examples:

• competitors' products are superior or cheaper
• budget is limited
• staff are untrained in new processes

You should include growth opportunities, such as:

• market developments
• competitors' vulnerabilities
• geographical or export opportunities
• seasonal influences
• current styles or trends
• niche markets

Examples:

• poor products currently in the market
• potential market for your product or service overseas

You should include any potential threats to your business, eg:

• political factors
• legislative changes
• environmental pressure
• IT developments
• competitors
• customer demand decrease
• technological change

Examples:

• changes of government or legislation
• competitors' product or service is at a more advanced stage
• increasing interest rates