SWOT Analysis

SWOT analysis is the process through which we analyses the different parameters through which we can progress ahead and the threats which we have deal with to sustain in the business. These parameters cover both the internal and external factors through the business is getting affected. The strengths and weakness are the internal factors which affect the business, whereas the opportunities and the threat the external factors which affect the business through external means of the organization. SWOT analysis is an important framework through which marketing management and other business applications can be applied.

S              Strengths

Strengths are a valuable aspects of the organization. The strengths of the project like the expertise of employees, financial aspects, vast customer base, servers or IT System or any other internal factors, brand value, competitive advantage in the market. The things which will be under the management and also plays a key role in the project to become successful.

W            Weakness

Weakness are the disadvantages of the company, the things which hamper the progress of the company these are the internal factors which have to be recognized and have to be controlled by taking precautions/ actions. These can be wrong target audience, poor marketing, and low brand value, weak financial aspects, out dated software / technology and other internal factors.

O             Opportunities

Opportunities are the external factors through which the business can progress. Attract the different segments of customer through the projects and the organization should grasp all the opportunities which arise during the progress of the business very wisely.

T              Threats

Threats are the external factors which will hamper the progress of the company/ organization. The external factors can be the rival/ competitive firms upgraded technology, political reforms, financial crisis, and product life cycle. These factors affect the survival of the organization.