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SWOT Analysis: Opportunities

Researching & analyzing a company's internal & external environment.

Identify Opportunities

Ask the following questions:

  • What technology trends in the industry could be used to advantage?
  • Are there current social trends that might be of benefit to the industry?
  • Have any economic or regulatory changes occurred recently that affects the way your industry operates?
  • Do current customers have unmet needs? If the customer base is changing, what can be offered to these new customers?

Identify Consumer Trends

Trade Associations

Trade and industry associations can be excellent sources for facts, statistics, reports and contacts to speak with about an industry. Often, but not always, their data and reports are freely available on their websites.

Locate Industry Surveys

Indentify Industry Trends

Trade journals are good sources for identifying industry trends. Search using the industry name(s) or North American Industrial Classification System (NAICS) code and combine it with subjects and/or keywords such as "trends" or "surveys" or "outlook."