Based on the idea you discussed in previous weeks Discussion Questions, complete a SWOTT analysis. How viable is your idea? Briefly address each of the following points in two to three sentences:
- Strengths: List the advantages and strengths your venture has that might be used to build market share.
- Weaknesses: List any significant weaknesses that your venture must address to compete effectively.
- Opportunities: List the opportunities in your market that might be capitalized on to gain market share.
- Threats: List competition and threats in your market that could decrease your market share or harm your business.
- Trends: List the economic, social, legal consumer, and industry trends that may affect your strategy.