Strengths / weaknesses analysis

Strengths / weaknesses analysis

Process of a strengths & weaknesses analysis

Procedure for the strengths / weaknesses analysis

  1. You first focus on your competitive environment. Who are your competitors in the market. If you come across a large number of competitors, concentrate on the 3 most important ones.
  2. Then identify your own strengths and weaknesses – always in comparison to the competition. If there is a strength or weakness in everyone, that is not differentiation and you don’t need to capture it.
  3. In the last step, you evaluate your results in order to draw necessary conclusions. This includes, for example, necessary measures that need to be taken. Or you define strategic priorities that should be given greater attention.

Description of the strengths / weaknesses analysis

The strengths / weaknesses analysis allows you to analyze your strengths and weaknesses in comparison to direct competition. The approach focuses on a company’s strengths and weaknesses. The method is derived from the SWOT analysis , but focuses on two of the four fields. In many cases, this is sufficient to identify necessary measures, new ideas or strategic options. The last step in particular is crucial in order to derive concrete activities from pure analysis results.

Thematic classification

This is an analysis tool to realign your company compared to the competition.

Who benefits from this method?

  • Organizations
  • Business units
  • Projects
  • products and services

Limits of Application

Good knowledge of the competitive environment and potential newcomers is required. The insights gained are mostly short-term measures that affect the current situation. Future market developments and opportunities require a more advanced methodology such as the SWOT analysis.

Alternate Methods

Competitive Advantage Finder

Competitive Advantage Finder Template

Competitive Advantage Finder Approach

Procedure for the Competitive Advantage Finder approach

  1. You first go into your strengths compared to the competition. After that, turn to the opportunities that might present themselves to you in the market.
  2. You then consider how you can use an existing strength to realize an opportunity. This brings you closer to a competitive advantage.

Description Competitive Advantage Finder

This is a ConWISE consulting method that is derived from the SWOT analysis. The approach focuses on the one hand on the strengths of the company and on the other hand on the opportunities in the environment. This is how you find out possible competitive advantages over your competitors or a peer group.

The approach was developed by Christian Arentzen ( ConWISE GmbH )

Thematic classification

This method is part of strategic management and is quick and easy to work with.

Who benefits from the Competitive Advantage Finder?

  • Organizations
  • Companies
  • Startups
  • Product manager

Practical tips

  • You get an overview of the external influences by using the PESTEL method. This approach includes political, economic, social, technological, environmental and legal factors.
  • You can invite colleagues and experts outside of the current team setup to review or supplement your findings.
  • Additional methods are the pros and cons of argumentation or the Six Thinking Hats method.

Limits of Application

Since the method focuses on the existing strengths, the competitive advantages are only derived from the current situation. Changes in the near future are not taken into account.

Alternate Methods