Reply Order
Student’s Name
Institutional Affiliation
REPLY ONE
When developing a company’s strategy, weaknesses are highly considered as compared to strengths. This is because, when you assess strengths like how much the sales have increased, how much market share you have and increase in returns, you may be blinded to the extent that other areas of your production end up deteriorating hence low yields. It is however paramount to address weaknesses because addressing them can make one profitable, highly efficient, and well recognized in a certain company.
Additionally, weaknesses are important reminders as they help one to focus on what they do best. If the company is not performing as expected, outsourcing should be considered, (Dalton, J. 2019). This is normally applied in those companies whereby the production department is ragging behind or it has a tendency of missing quotations. However, it is significant to look on strengths so that you can make the most out of them, but it is more crucial to have a critical eye which will enable you to look for cracks in your foundation of strengths.
REPLY TWO
Company’s threats are as well highly considered when developing a company’s strategy. It is vital to anticipate threats and to take actions against them before becoming their victim and your growth stagnates. These threats include anything that negatively affects the firm from outside such as supply chain problem, shortage of recruits and shift in market requirement. When you identify these factors, you will be in a position to device a technique of solving any problem emanating from them, hence high yield in your organization. When you identify threats regarding change of a certain product in market, you are therefore forced to change the production of those products for you to stay in lead. Threats should therefore be considered in every good SWOT analysis.
Reference
Dalton, J. (2019). SWOT analysis (Strengths, weaknesses, opportunities, threats). In Great Big Agile (pp. 249-252). Apress, Berkeley, CA.