Latthe Education Society’s Polytechnic

Diploma in Computer Engineering

Micro-Project Proposal (2024-25)

Subject :- Entrepreneurship Development [22032]

Title :- SWOT Analysis for small business

Submitted By :-

Roll No. Name Enrollment No.

243244 Priya Rajkumar Bhat 2200430275

 PROBLEM STATEMENT

 Aim of project is to prepare a report using the information about SWOT Analysis for small business.

AIM / BENEFITS OF MICRO-PROJECT

A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis for a

small business. This analysis will help the business understand its internal strengths and
weaknesses, as well as the external opportunities and threats it faces. Through this analysis, the
business can improve its decision-making process and develop strategies for growth and
sustainability.

1. Identifying Strengths: Highlighting internal advantages, such as resources, competencies, and

competitive advantages.
2. Recognizing Weaknesses: Understanding internal challenges that may affect growth or
profitability.
3. Exploring Opportunities: Discovering external factors that the business can leverage for
growth and expansion.
4. Evaluating Threats: Assessing external risks, such as competition and market fluctuations, that
could affect the business.

INTENDED COURSE OUTCOMES

1. Identify your entrepreneurial traits.
2. Identify the business opportunities that suits you.
3. Use the support systems to zero down to your business idea.
4. Develop comprehensive business plans.
5. Prepare plans to manage the enterprise effectively.

LITERATURE REVIEW
SWOT analysis is a widely-used strategic tool that provides a framework for assessing
internal strengths and weaknesses, alongside external opportunities and threats. It helps small
businesses identify key areas for improvement and growth by analyzing various factors affecting
business operations. Studies show that businesses that regularly conduct SWOT analyses are more
likely to stay agile and responsive to changes in the market environment.

Research also emphasizes that small businesses benefit the most from SWOT analysis
due to their limited resources. By understanding both internal and external dynamics, these
businesses can create more effective strategies, stay competitive, and adapt to market shifts.
 PROPOSED METHODOLOGY
A SWOT Analysis for Small Business involves the following steps:

 Data Collection:

1. Gather information through interviews with the business owner and employees.
2. Collect financial data, customer feedback, and market research reports to gain a
complete picture of the business’s current state.

 SWOT Framework Application:

1. Strengths: Identify key internal strengths, such as product quality, customer loyalty, or
operational efficiency.
2. Weaknesses: Highlight internal limitations, such as insufficient resources, outdated
technology, or weak financial management.
3. Opportunities: Analyze external market trends, new customer segments, or technological
advancements that the business can leverage.
4. Threats: Evaluate external risks such as competition, market saturation, or changes in
consumer behavior.

 Competitor Benchmark:

1. Compare the small business’s strengths and weaknesses with key competitors to
understand where the business stands in the market.

 Strategic Assessment:

1. Develop strategies based on SWOT findings to address weaknesses, capitalize on

strengths, and mitigate potential threats.
2. Provide both short-term and long-term action plans that are feasible and aligned with the
business’s resources and goals.

 Stakeholder Feedback:

1. Present the SWOT findings to the business owner for feedback and further insights,
ensuring the proposed strategies align with their business vision.

 Report Preparation:

1. Prepare a detailed report that summarizes the SWOT analysis, along with strategic
recommendations.
2. Include charts, graphs, and visuals to support the analysis and make it easier to
understand.

 Follow-up:

1. Provide recommendations for regular SWOT reviews and updates to keep the business
agile and responsive to changes in the market.
 RESOURCES REQUIRED

Sr. No. Name of resource / Specifications Qty Remarks

Material

1. Computer system with broad Intel(R)core(TM) i5-3437U 1

specifications CPU

2. Software Windows 11 1

- -
3. Any other resources used

4. Printing material Printing papers, ink, Toner As required

ACTION PLAN

Sr. Details of activity Planned Start Planned Finish Name of

No. Date Date Responsible
team members
1. Discussion and
finalization of topic Priya R. Bhat

2. Preparation of
submission of proposal Priya R. Bhat

3. Planning layout of micro

project Priya R. Bhat

4. Content preparation
Priya R. Bhat
5. Discussion about
required resource Priya R. Bhat
6. Correction and
implementation Priya R. Bhat
7. Seminar
Priya R. Bhat
8. Final submission of
micro-project Priya R. Bhat
 REFERENCES

 https://www.salesforce.com/in/blog/swot-analysis-small-business/

In the Above website we learn about SWOT Analysis

 https://www.business.com/articles/swot-analysis-for-small-business-planning/

We took reference to our project from this website.

 https://www.godaddy.com/resources/ae/skills/how-to-do-a-swot-analysis-to-improve-your-
business

In the Above website we learn about concepts of SWOT Analysis