Setting up an effective information system is integrally related to your mission and goals and to the specific environmental factors defined in your strategic purpose. Involve employees in determining what information is needed and where and how to obtain it. Now consider a mechanism for conducting internal business analyses. The primary task in this phase is to identify those factors giving you a competitive advantage. These may include holding a patent or an exclusive license on a particular product or service, the technology used to make your product or employing individuals skilled in areas unique to your business.
Flexibility is a major advantage small businesses generally have over larger rivals.
A SWOT Analysis forges development of a success strategy by identifying and devising measures for correcting potential problem areas, setting a preliminary course of action, developing alternative courses of actions and evaluating, shifting, and revising your current actions and immediate goals With a clear grasp of the competitors, customers, suppliers, and situations combined with a realistic understanding of your own strengths and weaknesses and a well-written, comprehensive business plan, you can develop a strategic plan that will lead to success. The SBA offers a variety of services to persons in business or to persons wishing to start their own business. For a list of SBA publications and videotapes on a variety of business management topics, you may request a free Small Business Directory from your local SBA Office. For the SBA Office nearest you, consult the U.S. government section in your telephone directory.