Knowing Our Strengths – SWOT Analysis and ShoreTel
Those of us who went to business school (or did a business subject study in academia at some point) are aware of a business intelligence methodology called the SWOT analysis.
SWOT = Strengths. Weaknesses. Opportunities. Threats.
As the name implies, it’s essentially a structured method for assessing and evaluating both the positive and negative factors that are impacting a business. SWOTs are useful for many business applications – marketing, strategic planning, viability studies, etc.
When you start thinking about a ShoreTel SWOT analysis, it’s very clear that we’ve got obvious Strengths and Opportunities. Our brilliantly simple solutions and product range, lowest TCO and high customer satisfaction are clear Strengths. There’s also Opportunity – mobility, capturing market share, penetration, and international markets, to name a few. Clearly we’ve got a lot of positives going for us.
As far as Weaknesses go, sure, there are some factors we know we can improve or mitigate. We’re certainly not the most well-known brand out there. And of course, due to our size, there’s a lot of scalability that’s happening in the pipeline as we grow. Although you could classify these as Weaknesses, the reality is that with proper planning they could become Opportunities.
Lastly, keeping a finger on the industry and competitor pulse goes a long way in navigating and understanding the Threats that might cause problems. Is the industry moving to a new direction? Is a competitor preparing a game-changing product in the works?
Thinking about the company in this context achieves two things. First, do not be complacent because there could be a new Threat lurking around the corner. Second, it also reaffirms that ShoreTel has a lot of positive momentum going its way due to our Strengths, and the Opportunities that are there for the taking.