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Step 8: Preparing your export plan

You are here:Step 8: Preparing your export plan > Revisiting the export SWOT analysis of the firm


 

 

Revisiting the export SWOT analysis of the firm

 

What is a SWOT analysis?

What is a SWOT analysis? SWOT stands for Strengths, Weaknesses, Opportunities and Threats and this analysis is a review undertaken by management or the owner of how these factors impact upon the business. A SWOT analysis is a standard management exercise that should be undertaken in all firms when planning their business activities. An export SWOT analysis simply applies the SWOT analysis to the firm's export endeavours and looks at the firm in the context of its internal and external environments. In other words, as the export manager you will consider and write down what you believe your firm's strengths and weaknesses to be and what opportunities and threats your firm faces from an exporting perspective (presumably your export SWOT analysis will closely relate to your general business SWOT analysis, but will extend the analysis to the international market).

SWOT: an internal and external view of the firm

It is very important to understand that strengths and weaknesses are internal to the firm, while opportunities and threats are external to the firm. Strengths, for example, might be that your firm has a unique product or staff that speak several foreign languages, or that your company has a very low-cost production system. Weaknesses, on the other hand, might be that you have little understanding of exports, that your products are designed specifically for the local market or that you have very little spare production capacity.

Turning to opportunities, these might include, for example, that the world market is experiencing a major growth in and shortage of the product that you produce, or that some major global producer has stopped producing the product that you manufacture or that the

The purpose of the export SWOT analysis

The purpose of the SWOT analysis is simply to get you to think about the factors, both internal and external, that are likely to have an impact upon your business, either positively (strengths and opportunities) or negatively (weaknesses and threats). Once you have identified these factors, you can begin to plan to either take advantage of the positive factors or to defend against the negative factors.

How to do your SWOT analysis

We have provided you with an export SWOT checklist that you can download and complete. This is essentially a long list of factors both internal and external that may or may not impact upon your business. Your task is to work through this list and to decide for each factor what the impact is like to be on your business (whether positive, negative or neutral), as well as the likely extent of the impact (significant or minor). Clearly, once you have completed this task, the next step is to concentrate on the positives and negatives - especially those that will have a significant influence on business performance - and then to take appropriate action in terms of how you plan your marketing strategy to deal with these issues.

Download the export SWOT checklist

 

 
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Step 8: more information

Step 8: Preparing your export plan
      .Synopsis of research already done
      .Setting the export objectives of the firm
      .Preparing an export marketing strategy for your firm
      .Preparing an export budget for your firm
      .Outlining an implementation schedule for your export activities
      .Preparing and presenting your export plan
      .Obtaining approval for your export plan

 

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More information on Step 8
Learning to export...
The export process in 21 easy steps
Step 1: Considering exporting
Step 2:Current business viability
Step 3:Export readiness
Step 4:Broad mission statement and initial budget
Step 5:Confirming management's commitment to exports
Step 6: Undertaking an initial SWOT analysis of the firm
Step 7:Selecting and researching potential countries abroad
Step 8: Preparing and implementing your export plan
Step 9: Obtaining financing for your exports
Step 10: Managing your export risk
Step 11: Promoting the firm and its products abroad
Step 12: Negotiating and quoting in exports
Step 13: Revising your export costings and price
Step 14: Obtaining the export order
Step 15: Producing the goods
Step 16: Handling the export logistics
Step 17: Export documentation
Step 18: Providing follow-up support
Step 19: Getting paid
Step 20: Reviewing and improving the export process
Step 21: Export Management
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