SWOT Analysis :: Business, Administration, Analysis

SWOT AnalysisThis symbol of synopsis is designed to help depict several sports stadiums of a credit line that may need improvement and other areas where the familiarity may be able to improve upon. SWOT is an acronym for Strength, Weakness, Opportunities and Threats. A company should consider this analysis to be nonpareil of the most important steps to becoming one of the leading stores and schools of this nature in the area.A business concern idea gets started by acquiring knowledge of a product, market or skill. In this case, the companys idea got started from the skills gained from years of diving and love of water and nautical life. These things inspired the owner to start his business. One of the most difficult things to identify as a business owner and as an entrepreneur is that area where the company or owner is lacking strength. When considering a business venture, normally one is not looking at the negative factors of the business itself. In most cases, the entrepr eneur looks at the positive factors that can help his business get started. SWOT AnalysisStrengthsHighly Qualified Staff healthy PricesOver 20 years experience in the businessOffers scuba gear, training, certifications & eco tripsGood rapport with customersWeaknesses need of mission statement on the website Lack of competition Limited funds (Typical in small businesses)Over $200k in inventory (Too much capital invested in inventory)OpportunitiesVirtual store (Offering apply equipment and possible equipment trade-in) New retail store Proper advertisement (Direct mail, sponsorships, steer mats, radio, television advertisement, travel and sports magazines, Verizon yellow book etc.