Situation Analysis - Entrepreneurship
What is a Situational Analysis?
Written by J. Mance Gordon
Updated at April 21st, 2024
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What is a Situation Analysis?
The situation analysis covers a mix of information uncovered in the feasibility and strategic analyses. Below is an outline of the information that should be included in the situation analysis.
What is a Company Analysis?
- Background of Venture Give the general background of the business or the people involved. This helps provide scope from which to derive your strengths and weaknesses.
- (SWOT) Incorporation the SWOT information helps you understand your business and how it fits into the market.
- Strengths and Weaknesses of Venture
- Market Opportunities and Threats
- Note: Incorporate the PESTEL factors as relevant.
- Describe any influencing factors that may affect the marketability of the product.
What is a Competitor Analysis?
- Number How many competitors are in the market?
- Market Share What share of the market do they occupy?
- Competitive Positions What are the key competitive strategy of your competitors? (Price, Quality, etc.)
- Strengths What are the outstanding strengths of each competitor?
- Weaknesses What are the competitors weaknesses? (Include personnel, operations, marketing, finances, etc.)
What are Market Demands?
- What is the current total market demand for the product or service?
- How does production capability compare with demand?
- What are the future demand levels?
- Is current demand in any way correlated with market trends or ancillary products or services?