Companies should also consider “softer” elements such as corporate culture and image, operational efficiency and potential, and the role of key personnel. When posting qualities and shortcomings, people should not attempt to sugarcoat or gloss over characteristic shortcomings or qualities. Recognizing both great and terrible components is critical to doing a thorough SWOT investigation. “Using SWOT analysis has saved me, more than once, from myself by preventing me from taking on projects that probably would have been too much for my small company,” said Tom Atkins, founder of Quarry House. External factors Opportunities for indigenous products • Our business sector is new, with many future opportunities for success. • The local government wants to encourage local businesses. • Our competitors may be slow to adopt new technologies. Threats to indigenous products• Developments in innovation can change this business beyond our ability to adapt. • A small change in the center of a substantial competitor can wipe out any position in the business sector from us