182  Blockchain

Factor

Description

Impact on Blockchain use case

Strengths

Highlights its capabilities, uniqueness and niche to differentiate itself from

competitors, using internal and external data.

The strengths factors of an organisation can determine what areas or sectors

of the Blockchain the business should invest in, based on the uniqueness,

products, skills and specialities.

Weaknesses

Weaknesses are the factors that can lead to stop or slow down an

organisation to perform at its optimum level.

It is important for an organisation to map out their weaknesses as it

provides them insight and focus to initiate transformational programmes to

improve them. The senior management can also make strategic decisions to

stop/hold investment on Blockchain programmes that might not sustain or

have low probability to succeed on and focus on improvement plans to be

more competitive in future.

Opportunities

Opportunities refers to external factors that can be favourable to the

organisation to have competitive advantage.

Organisations need to continuously assess the external factors to look out

for opportunities.

The assessment of opportunities can help in formulating the Blockchain

strategy to focus on markets and countries for new business.

Threats

Threats refers to external factors that have potential to harm an organisation

or have a negative impact.

Threats analysis is crucial for the strategy formulation as it can impact the

new/existing Blockchain business models and can have negative impact on

organisation’s business, brand, and profitability.

Figure 6.5  SWOT on blockchain use cases.