Research Paper on:
SWOT Analysis for a T-Shirt Business

Unformatted Sample Text from the Research Paper:
to identify these different aspects will add to the understanding of the environment and strategic planning, strengths can be built upon, weaknesses need to be reduced or eliminated where possible,  opportunities may be seized, especially using the firms strengths, or they may help to reduce weaknesses and threats also need to be dealt with, where mitigation is not possible then  contingency plans and minimisation of exposure to risk needs to be considered. In many cases the section on strengths and weaknesses will focus mainly on the internal aspects of the  business and the opportunities and threats will be external (Thompson, 2007). Strengths There are a number of strengths to a T Shirt business, T-shirts are a popular item, most  individuals own t-shirts and as such the market is very large. The goods are relativity easy to display and sell, with the ability to adapt and change as needed to  the prevailing fashions and trends, therefore the flexibility of the retail t-shirt business model is also strength. It is an industry where  the overall capital tied up in stock can be minimal and stock turnover can be relativity fast. The stock will not spoil quickly and does not need any special holdings  conditions. The relativity low cost of purchasing and holding stock facilitates a potentially good profit margin for the firm. In poor economic conditions it may be argued that selling  relatively low cost items is also a strength. Weaknesses In clothing a key competency is the ability to forecast the way fashions and trends are going to move.  Many clothing companies have a great deal of experience in making these predictions, as a new business the lack of experience of the buyer is likely to be a weakness