Table of Contents
Introduction
The CAME analysis is a strategic business tool that complements the SWOT ( the analysis of strengths, weaknesses, opportunities, and threats, what some call the SWOT analysis ) that provides essential information to establish the guidelines of the aspects found. After performing the SWOT matrix.
CAME Analysis Stock Types
As we have explained, SWOT analysis is implemented to know the business situation, which gives an overview of what is happening in the business.
When we get all this, and as you have seen in the previous image, it is time to apply the acronym: Correct, Confront, Maintain and Exploit
Maintain Strengths
Just as we eliminate threats, we will maintain muscles by keeping everything positive that can influence the business. As a result, we will have a competitive advantage.
Exploit Opportunities
This is related to the previous point because it allows you to create strategies and plan actions to turn them into strengths.
Correct
This means eliminating the weaknesses or taking the necessary measures that are in our power so as not to have to deal with them and they do not influence the development of the business plan again.
Address Threats
This prevents the same threats from going one step further, becoming weaknesses.
How To Do A CAME Analysis?
Determine Business Goals
The first and most important thing to start the journey is to set the company’s objectives, which must be clear and concise. In this way, we will know where to point the entire business strategy.
Perform a SWOT Analysis
The second step is the SWOT or SWOT analysis to understand the situation in which the business is. This part will analyze the company’s strengths, weaknesses, opportunities, and threats.
Perform CAME Analysis
You already know which actions are most important, so the next step is to perform a CAME analysis.
Select Actions
Once the SWOT analysis is finished, it is essential to select the most critical actions and implement them according to their importance
CAME Analysis Strategies
If we take into account, everything read so far and combine the internal and external elements of the SWOT analysis
Survival Strategy
This Strategy tries to find out what the weaknesses of the business are and how they can be corrected to face the threats of the market and thus prevent the defects from growing by reducing the negative aspects
Offensive Strategy
This Strategy, also known as market attack and positioning, is about uniting strengths and opportunities. Which can be use to exploit the same market opportunities in which the company is locate and thus differentiate itself from its competition
Defensive Strategy
This Strategy, typical of large consolidated companies in the market, arises from combining the strengths and threats that the company is facing
Targeting Strategy
Uniting the weaknesses and opportunities is essential to maximize them in the same market.
Conclusion
the SWOT analysis is implement to know the business situation. A comment that can be use in the case and serves to have an overview is happening in the business.