A S.W.O.T. analysis is one of the most critical components of your business plan to grow your business. A S.W.O.T. analysis is an analysis of your business strengths, weaknesses, opportunities, and threats. This analysis is integral to developing actions to building on your strengths, implement changes to eliminate or reduce your business weaknesses and any external threats, and actions to take advantage of the opportunities.
I.e. S.W.O.T. analysis for tour company might identify the following:
Strengths - Experienced staff, exclusive licence to access to ….,
Weaknesses - Staff turnover, vehicle breakdowns
Opportunities - Add a new tour for nearby…
Threats - Changes in governments regulations, insurance premiums increase.
A S.W.O.T. analysis is best conducted in a brainstorming session with key people associated with and within your tourism business.