Billy Bauer, Royce Leather's managing director, made the observation that combining internal

weaknesses with external threats can highlight a company's most pressing issues.
According to Bauer, "Once you’ve identified your risks, you can then decide whether it is most
appropriate to eliminate the internal weakness by assigning company resources to fix the
problems, or to reduce the external threat by abandoning the threatened area of business and
meeting it after strengthening your business." This decision can be made after you have
identified your risks.
The resources and experience you already have at your disposal are referred to as internal factors
in the strengths (S) and weaknesses (W) categories.
Some common internal factors are as follows:
Human resources (employees, volunteers, and target audiences) Access to natural resources,
trademarks, patents, and copyrights Current processes (employee programs, department
hierarchies, and software systems – like CRM Software and Accounting Software) Financial
resources (funding, sources of income, and investment opportunities) Physical resources
(location, facilities, and equipment)