Understanding the W - Weaknesses in SWOT Analysis in Product Management

Perfection is an illusion. Be it human beings, organizations, a product or a service, or anything else; everyone and everything has some weak point. 

In the previous segment, you learned what the strengths of IKEA are. This segment will focus on IKEA’s weaknesses.

Weaknesses prevent an organization from performing at its optimum level.

Questions to ask:

1. What are the products or services that are underperforming?

2. Where is the company “losing money”?

3. What keeps the CEO up at night?

4. How is the company being portrayed in the media?

IKEA’s weaknesses:

• Paradox of choice 

• Perception of quality (e.g., IKEA is for your starter apartment or dormitory)

• DIY (e.g., need to assemble the furniture)

• Late to e-commerce

• Reliance on third-party manufacturers

• Reliance on forestry 

The next segment will highlight the opportunities of IKEA.