SWOT Analysis

ObjectiveTeach kids to perform a SWOT analysis on their business.
Description SWOT

As part of the planning process for your business have identify Strengths, Weaknesses, Opportunities and Threats to and for your business (SWOT).

Steps:

1. Write down everything that they know about their business. Where will you set it up? Who are your customers? Are there other kids in the neighborhood doing this kind of thing? if so how will you set yourself apart? How does this business suit the needs of your customer? etc.

2. Each letter in the word SWOT stands for something that will help you to evaluate your business, anticipate any problems and make you business better.

  • S= Strengths: Strengths are things that your business is very good at. They can be your team, the size of your business, ideas, location, company structure, product etc.
  • W= Weaknesses - These are things that are a disadvantage to your business. They could include lack of organization, undependable people, location, size of your business, problem with your product etc.  
  • O = Opportunities - opportunities are things that will make your business more successful. For example, you have an opportunity to sell to a lot of kids your age if you set up a booth in your school cafeteria or out of your locker. Opportunities are things that will put you in the right place, at the right time, with the right product.  
  • T= Threats - these are things that could make your business less successful and could include factors such as lots of competition, a competitor undercutting your prices, a competitor in a better location than you, low interest in your product etc.

 

3. Print a copy of the SWOT analysis worksheet and fill it in as best you can.

4. Come up with solutions for any of the problems you are facing and think of ways to improve your product or your customers' access to your product.

5. Include your SWOT analysis as part of your business plan.

 

Complete When

Mark this activity as complete when you have created one SWOT analysis of your business.

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Age Range 11    12    13    14    15    16    17    18   
Activity Type Lesson
Tags Marketing  Linguistic Intelligence 
CreatedCindyCindy
Last ModifiedRobRob

References

Reference Reference Note  
Marketing Teacher This article from Marketing Teacher provides some useful information and activities on the topic of SWOT analysis .

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