Digital Marketing Ultimate Suggession | NSDA Assessment

Posted by Sunil Sangma on
🧩 UNIT 1: Practice Negotiation Skill (GU009L3V1) 📝 Multiple Choice Questions (MCQs) Negotiation is a process of — a) Conflict creation b) Mutual agreement c) Competition d) Ignoring others Answer: b) Mutual agreement The first step in negotiation is — a) Participating b) Planning c) Signing d) Arguing Answer: b) Planning Which of the following is part of preparation for negotiation? a) Background research b) Random talking c) Avoiding others d) Ignoring facts Answer: a) Background research Non-verbal communication includes — a) Body language b) Writing reports c) Making phone calls d) Sending emails Answer: a) Body language Which technique helps to collect more information? a) Open-ended questions b) Yes/No questions c) Avoiding questions d) Guessing Answer: a) Open-ended questions Active listening means — a) Interrupting others b) Listening carefully and responding c) Talking more d) Arguing Answer: b) Listening carefully and re...
0

How to Conduct a SWOT Analysis for Your Business

Posted by Sunil Sangma on


 A SWOT analysis is a powerful tool used to evaluate the internal and external factors that impact a business. It stands for Strengths, Weaknesses, Opportunities, and Threats. Here's a step-by-step guide on how to conduct a SWOT analysis for your business:

1. Identify Strengths

Strengths are internal attributes that give your business an advantage over competitors.

  • Questions to ask:
    • What do you do better than others?
    • What unique resources or capabilities do you possess?
    • What do customers appreciate about your business?
    • What makes your business successful?
  • Examples:
    • Strong brand reputation
    • Loyal customer base
    • Proprietary technology or patents
    • Skilled and motivated team

2. Identify Weaknesses

Weaknesses are internal factors that place your business at a disadvantage.

  • Questions to ask:
    • What areas need improvement?
    • What do competitors do better than you?
    • Where are you lacking resources or skills?
    • What are customer complaints or negative feedback?
  • Examples:
    • Limited marketing reach
    • High staff turnover
    • Lack of capital or cash flow issues
    • Outdated technology or inefficient processes

3. Identify Opportunities

Opportunities are external factors that your business can leverage for growth or improvement.

  • Questions to ask:
    • What trends are you aware of in your industry?
    • Are there emerging markets you can enter?
    • Can you use new technology or platforms to expand your reach?
    • Are there any partnerships or collaborations available?
  • Examples:
    • Expanding into new markets
    • Growing demand for a product or service
    • New technological advancements
    • Changes in regulations benefiting your business

4. Identify Threats

Threats are external factors that could cause problems or challenges for your business.

  • Questions to ask:
    • Who are your competitors, and how are they evolving?
    • Are there economic, social, or political factors that may negatively impact your business?
    • Is there a risk of new competitors entering the market?
    • Could changes in consumer behavior or technology disrupt your industry?
  • Examples:
    • Increasing competition
    • Changing consumer preferences
    • Economic downturns or rising operational costs
    • Regulatory changes

5. Analyze and Prioritize

Once you've identified these elements, analyze how they interact with each other. For example:

  • How can you leverage your Strengths to capitalize on Opportunities?
  • How can you use your Strengths to mitigate Threats?
  • What can you do to overcome or minimize Weaknesses?

6. Develop Strategies

Based on your analysis, create actionable strategies to improve your business:

  • Strength-Opportunity strategies: Use your strengths to take advantage of opportunities.
  • Weakness-Opportunity strategies: Improve weaknesses to exploit opportunities.
  • Strength-Threat strategies: Use strengths to counter threats.
  • Weakness-Threat strategies: Minimize weaknesses to protect against threats.

Final Thoughts:

Conducting a SWOT analysis periodically can help you adapt to market changes, stay competitive, and make informed decisions for the future of your business.

Comments

Post a Comment