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The document discusses SWOT analysis, which is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats of a business or project. It involves specifying an objective and identifying internal and external factors that are favorable or unfavorable to achieving that objective. Strengths are good qualities that help achieve objectives, while weaknesses are defects that hinder objectives. Opportunities are favorable external factors and threats are potentially damaging external factors. The document provides examples of each. It also discusses how SWOT analysis can be used for companies, products, customers, and competitors.
The document discusses SWOT analysis, which is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats of a business or project. It involves specifying an objective and identifying internal and external factors that are favorable or unfavorable to achieving that objective. Strengths are good qualities that help achieve objectives, while weaknesses are defects that hinder objectives. Opportunities are favorable external factors and threats are potentially damaging external factors. The document provides examples of each. It also discusses how SWOT analysis can be used for companies, products, customers, and competitors.
The document discusses SWOT analysis, which is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats of a business or project. It involves specifying an objective and identifying internal and external factors that are favorable or unfavorable to achieving that objective. Strengths are good qualities that help achieve objectives, while weaknesses are defects that hinder objectives. Opportunities are favorable external factors and threats are potentially damaging external factors. The document provides examples of each. It also discusses how SWOT analysis can be used for companies, products, customers, and competitors.
mathod used to evaluate theStrengths,Weakness,Opportunities,a nd Threats. It involves specifying the objective of the business and identifying the internal and external factors that are favorable and unfavorable to achieve that objective . Techniques is credited to Albert Hamphrey. Strength is a good or beneficial quality or attribute of a person or a thing. We are able to respond very quickly and no need for higher management approval . It helps to create a strong reputation in market . We can change direction quickly if we find that our marketing is not working. Example : 1.strong brand name. 2.good reputation among customer. A Weakness is a defect in the organisation that will keep it from achieving its objectives. One’s strenght is anoter’s weakness . Be truthful so that weakness may be overcome as quickly as possible. Our company has a little market presence or reputation. Example:1.high cost structure. 2. A weak brand name. An Opportunities is an favourable situation in the organisation’s environment. Our business sector is expending ;with many future opportunities for success. Local government wants to encourage local businesses. Our compititors may be slow to adopt new technologies. Removal of international trade barrier. Arrival of new technologies. A Threat is any unfavourable situation in the organisation’s environment that is potentially damaging to it’s strategy. Developments in the technology may change this market beyond our ability to adapt . A small change in the focus of a large compititors might wipe out any market position we avhieve. New regulation Increased trade barriers. Shifts in consumer tastes away from the firm’s product. Have you been using SWOT analysis and are curious to find out who this concept came into being? If yes then here’s an article that tries to trace the SWOT history and examine how thisw analytical tool has evolved to it’s current state . Over the past few decades one strategic management technique that has gained increased acceptance or which has rather excelled in the field of strategic planning is the SWOT analysis . Company SWOT Analysis Product SWOT Analysis Customer SWOT Analysis Competitor SWOT Analysis Knowing one’s streghts helps a person apply focus on strong points that can accentuate a business. Knowing weaknesss allows knowledge into what needs to be improved on for bettering effeciency and the business . Using opportunities wisely leads to ways to better a business if they’re put to proper use. It’s best to always try to advance one’s resources and stay on the top of the game so there’s no feeling behind. Focusing too much strenghts can lead to ignorance of one’s flaws and can eventually lead of the weakening of one’s business. Focusing too much on weaknesses can lead to the neglecting of strenghts or cause a person too look down on their business. Missing opportunities is basically a missed chance to possibly get a business known ,P.S. not all opportunities can help . You have to think if you’ll benefit positively in the long run . SWOT help a company to see itself for better and for worse. Companies are inherently insular and inward looking SWOTs are a means by which a company can better understand what it does very well and where it’s shortcomings are. SWOTwill help the company size up the competitive landscape and get some insight into the vagaries of the marketplace.