Readers Respond: Threats and challenges
You might have heard of the strategic tool called a S.W.O.T. analysis. That's when a company draws a grid on a white board, and a team begins to identify strengths, weaknesses, opportunities and threats.
Let's look at that last quadrant. Every company has them, and it's generally agreed that those companies that identify them and respond to them the fastest, are the ones destined for growth, market share and all the other trappings of business success.
HBSDealer's weekly survey asked: "What's the biggest current threat to your business?" After some 180 votes, here's how the answers break down:
Labor shortage: 35%;
Tariffs/trade war: 20%;
Competition from traditional players: 13%;
The economy: 11%;
Competition from new players: 8%;
The unknown: 4%;
Weather: 3%;
Regulatory environment: 3%; and
Other: 3%.
Additional comments are always encouraged. Write to us at [email protected].
Let's look at that last quadrant. Every company has them, and it's generally agreed that those companies that identify them and respond to them the fastest, are the ones destined for growth, market share and all the other trappings of business success.
HBSDealer's weekly survey asked: "What's the biggest current threat to your business?" After some 180 votes, here's how the answers break down:
Labor shortage: 35%;
Tariffs/trade war: 20%;
Competition from traditional players: 13%;
The economy: 11%;
Competition from new players: 8%;
The unknown: 4%;
Weather: 3%;
Regulatory environment: 3%; and
Other: 3%.
Additional comments are always encouraged. Write to us at [email protected].