The initials DOFA Alludes to weaknesses , opportunities , strengths and threats . The concept appears in a type of analysis that companies apply to know their best internal characteristics and the risks that come from abroad.
The analysis DOFA It is also known as SWOT and SWOT , according to how the words that make up the expression. You can also find the English acronym SWOT by strenghts (strength), weaknesses (weaknesses), opportunities (opportunities) and threats (threats)
Develop an analysis DOFA lets discover what the situation of a company or of a project and, based on this diagnosis, it favors the planning of a strategy. This tool, designed at the beginning of the decade of 1970 , serves to warn the competitive advantages and apply them in the market.
Regarding these acronyms, we can determine that:
-Weaknesses, are the aspects in which the company in question is at a disadvantage.
-Opportunities, they become the market spaces that have not been taken into account and that can give rise to a very interesting area for the company's progress.
-Fortitudes, which are the aspects in which the company has a clear advantage compared to its rivals.
-Threats, which are the possible obstacles that the company can find and that come not only from consumer opinions but also from government regulations and even market fluctuations.
If we take as an example a candy manufacturing company, the DOFA analysis could be the following:
-Weaknesses: you need more staff, there is machinery that is somewhat outdated ...
-Opportunities: it is close to different supermarkets and commercial surfaces.
-Fortalezas: has a brand image consolidated by its tradition and trajectory.
-Threats: other factories of the same type of products are appearing in the same area.
To carry out this analysis, the first two stages consist of performing the external study (for the detection of opportunities and threats) and the internal study (with the objective of determining strengths and weaknesses). With these results the matrix is made DOFA and then the strategy It will be used.
Opportunities and threats are given by the political context, import and export rules and tax legislation, among other factors. Strengths and weaknesses, meanwhile, depend on issues such as varieties of products , customer service and technical support.
The identification of obstacles that may affect compliance with objectives , the exploration of the solutions to the inconveniences and the study of the different directions that the entrepreneurship can take are some of the possibilities offered by the analysis DOFA .
As a general rule, the DOFA is used to analyze and manage companies. However, there is also the personal DOFA. This is used to ensure that workers can reach their goals and contribute to the general good of the one for which they work.
Thus, taking into account this particular analysis, the employee's weaknesses such as laziness or shyness, opportunities as external aspects that allow achieving their objectives, strengths such as their knowledge and threats as the circumstances surrounding them will be taken into account.