And SWOT Analysis: Swot Analysis

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SWOT Analysis
SWOT is a term used to describe the particular strengths, weaknesses, opportunities and threats that are strategic factors for a specific company. A SWOT should represent organizations core competencies while also identifying opportunities it cannot currently use to its advantage due to a gap in resources
SWOT analysis is only as good as the information that makes it up. Research and accurate data is vital to identify key issues in an organization’s environment
In SWOT analysis what we need to first access the market, access our company and in the last we will access our competition
Accessing our market
• What is happening externally and internally that will affect our company?
• Who are our customers?
• What are the driving
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• Who are our most intense competitors?
• Makers of substitute products?
• Can these competitors be grouped into strategic groups on the basis of assets, competencies, or strategies?
• Who are potential competitive entrants? What are their barriers to entry?
Evaluate
• What are our objectives and strategies?
• What is our cost structure? Do we have a cost advantage or disadvantage?
• What is our image and positioning strategy?
• Which are the most successful/unsuccessful competitors over time? Why?
• What are the strengths and weaknesses of each competitor?
• Evaluate competitors with respect to their assets and competencies
(Olsen, 10)
In shell the managers have to keep all the factors in mind before making decisions. Those facts can lead to achieve their goals if they are fairly addressed. Information regarding these factors can be taken from the managers starting from the lower level managers to the high level managers. Lower level managers can create report in which they will access the market keeping in minds what is happening externally and internally that will affect our company, who are our customers, what are the driving forces behind sales trends and what are important and potentially important

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