Question

Weaknesses of industry trends

Answer 1

Explanation:

Weaknesses are the constraints that impede a company's success in a certain strategic direction—in other words, what the company does not do well. Typical company weaknesses might be: Inadequate definition of customer for product/market development. Confusing service policies.

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Answer 2

Senior leaders of organisations should consider spending less time on their SWOT and consider spending their time analysing their SWT that is their Strengths, Weaknesses and Trends. The trap that many leaders find themselves in is that they are immersed in their own industry myopia which a traditional SWOT analysis does not help with. The SWT analysis still allows leaders to keep in touch with their organisations strengths (to be promoted in the market place) and their weaknesses (to provide a focus for continuous improvement) but also forces them to look beyond their industry to track trends from around the world such as significant changes in technology, distribution, product innovation, markets and consumer and social developments with one question on their mind “can that trend be a game changer in our industry?”