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SWOT analysis

 

Introduction

  • It is a technique to do the Enterprise analysis that can be used to identify a correct strategy, so that the potential of business can be improved.
  • It can be applied to solve both personal and business problems.

What is SWOT analysis??

  • It can be regarded as inside and outside analysis of an organization position.
  • It is used to analyse and evaluate the organization in order to define strategy to move forward, it is combined with Risk Analysis to identify the threats and ways to control them.
  • This can be for both the Internal and External analysis.
  • Internal analysis has direct control which helps to examine the weakness and strength which includes experienced person, IT system and Customer relationships.
  • External analysis have no control or little control which helps to examine threats and opportunities which includes competitors, suppliers.
  • To conduct SWOT analysis it is important to bring all stakeholders in organization together to gain knowledge about all the elements of SWOT MATRIX

 

 

STRENGTH(+)

 

WEAKNESS(-)

 

OPPURTUINITIES(+)

 

THREATS(-)

 

  • STRENGTHS are activities which makes better than others to be successful like unique resources, it is associated with goodwill and skill set.
  • WEAKNESS are the areas that needs improvement for organization.This focuses on the factors that prevent organization to become successful, this could be within the control that targets the markets considers as weakness.
  • OPPORTUNITIES are recognizing timely opportunities and trends to explore new areas, thereby increase in chances of success, it includes changes in the market demand, new technology.
  • THREATS are the factors that can negatively affect the assessed group. Obstacles of an organization and competitors are considered as threats.

Example:

SWOT analysis of Educational Institute

  • STRENGTHS:varitey of courses,Experienced Faculty,Flexible training according to students
  • WEAKNESS:Limited to certain areas
  • OPPORTUNITIES :Expand business through online and reach globally
  • THREATS:Strong competitior,Emulating brand name which leads to name confusion

 

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CONCLUSION:

  • With SWOT analysis opportunities can be discovered:
  • Strengths can be identified to reduce weakness and threats pro-actively.

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