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I like to include them in the SWOT, and then carry them into the Action Plan, because it reinforces what element of the analysis necessitates the action.I have shown action items in the weaknesses section of the following sample SWOT analysis.(Make sure you understand the definition business model - the practices, and focus, of the business on delivering the value proposition - to engage in a strong and successful strategic planning process).
SWOT analysis needs to be a key part of your overall small business plan strategy and process.
It helps you to define your weaknesses and the threats to your business, as well as helps you to build on your organization's strengths and the external opportunities available.
Note: There is a variation on SWOT called SOAR which is an acronym for strengths, opportunities, aspirations and results.
I like the aspirations (which usually are the vision statement in my strategic plans) and the results (which are usually tied to my actions plans: action timeline and responsibility track and measure results).
Once you begin this planning process you will need to ensure that the plan you develop is do-able; make sure you include effectiveness measures in your plan.
And remember that your plan for strategy in business needs to be reviewed on a regular basis and be adapted as market and economic conditions change.
One of our key growth strategies is to target growing markets to which we can apply our core competencies and/or expand services into higher margin operations.
The above sample SWOT analysis demonstrates how to use a SWOT model in your strategic planning.
Track economic indicators regularly and watch out for a 'free falling' economy, the size and depth of the problem, and the reach across all markets.
A common attribute of profit leaders among large, medium and small firms is to build a very focused business strategy.