This is a planning method used to evaluate the Strengths, Weaknesses, Opportunities and Threats that affect a product, place, industry or person.
- Strengths: Also known as your competitive advantages, the things you do better than your competition. These can include capabilities, product or service quality, talent, pricing, market conditions, etc.
- Weaknesses: Your disadvantages relative to others in your market.
- Opportunities: Elements of a situation or project that a firm could exploit to its advantage over others.
- Threats: Potential trouble or risks, such as market changes (whether driven by changing customers or clients), struggling economy and new technology.
Competitive Assessment Worksheet