The definition of strengths in the business area refers to the strengths of a company, those characteristics of the that help you achieve your goals. These are internal factors, which can be controlled by the organization itself.
The concept of strengths encompasses those aspects that the entity performs well or that it has, and that also make it strong and different compared to the competition. These strengths usually carry some competitive advantage in the market.
Strengths are used above all to specify what your business does well. Once you detect the strengths of the company you can focus on them when it comes time to implement your program of marketing.
Examples of strengths of a company
If a company is aware that it makes a cheaper product than the rest of the industry, it can establish this as a strength. It doesn't have to be the best in the industry to recognize it as a strength. Strengths may change depending on the type of business and the activity you do. Sometimes it is enough to present a value added to services.
This term falls within the analysis DAFO along with weaknesses, threats and opportunities.
- Customer Service - Understand pricing, returns, and advertising.
- Environment: new companies are able to gain a foothold in the mercado thanks to this aspect. It addresses the company's responsibility to the environment and the policies it applies to make them work.
- Logistics: refers to the manufacturing capacity and the costs incurred during the creative phase.
- Innovation: commitment to new technologies in an attempt to adapt to market needs. It seeks to be the first to catch up with new trends.
- Staff: have a large staff, capable of being motivated and offering optimal performance in all kinds of situations.