Business Strengths and Weaknesses Checklist

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1. Aspects to be analyzed:

• Staffing and employee attitudes;
• Effectiveness of production, including:
  • Technologies used;
  • Raw materials consumed;
  • Tools utilized;
  • Business processes applied;
• Quality of goods and services (methods to increase and secure quality);
• Reputation and respect;
• Effectiveness of marketing, advertising and PR;
• Logistics (supply chains, transportation methods and routing);
• Location;
• Pricing;
• Responsiveness (ability to effectively response to claims and challenges);
• Presence of highly-trained professionals;
• Customer relationships and policies;
• Impact on external situation, such as ecology, competition and sociology;
• Relationships with government and external institutions;
• Administrative approaches, such as team management and work planning;

2. Method to define Business Strengths and Weaknesses:

• Move through aspects of business and realistically assess state of affairs in each one;
• Take some time to sort out your studied out traits and decide which of them you believe are the strengths and weaknesses of your business;
• It makes sense to evaluate your traits by comparing them against those of your competitors:
  • Situation which is the same with your competitors cannot be listed as a strength;
  • Only outstanding traits which help your business to excel its competitors are to be qualified as strengths;
  • Automatically, things which are worse than those of your competitors are weaknesses;
• It is critically important to be absolutely honest and realistic when studying your strengths and weaknesses, as this is not a time for fictions and self-deception;

3. Possible Business Strengths:

• Positive Brand image;
• Positive opinion of customers regarding products or services;
• Environmentally-friendly packaging or other green technologies;
• Modernized productive assets and innovative technologies;
• Low-cost raw materials due to effective logistics;
• Low-cost raw materials due to advantageous contracts;
• Diversified network of distributors;
• Diversified network of suppliers;
• Highly trained and qualified staff;
• Good level of employee motivation;
• Adherence to the best practices and values of craftsmanship;
• High level of customer loyalty (effective customer retention);
• Outstanding personal capabilities and talents of particular team members;
• Optimal taxation;
• Advantageous location;
• Effective and flexible work planning;
• Flexible pricing and selling policies;
• Commendable approaches to customer service and satisfaction;
• Optimized and continually developed business processes;
• Effective Quality management that results in a very low spoilage rate;

4. Possible Business Weaknesses:

• Employees are demotivated (not interested to be diligent and show high performance);
• Employees are untrained (employees suffer from lack of knowledge and skills);
• Employees permanently show negative behaviors (can be a sign of demotivation);
• Poor staff selection and inability to recruit/retain proper professionals;
• Rigid or noncompetitive pricing;
• Poor customer service and follow-up policies;
• Poor customer retention policy;
• Poor awareness of the customers about the brand and products;
• Negative associations connected to the company, brand or products;
• Outdated technologies and unproductive assets;
• Presence of unprofitable assets within ...

Order 750 checklists in MS Word and PDF printable format at $49.99 USD only.

BUY NOW!

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