Business Strategy: SWOT Analysis

The SWOT analysis is commonly known as a tool for business analysis. Its main use is for looking at strengths and weaknesses to do with the organisation, current or future opportunities and possible internal and external threats. These can then be dealt with to make them into a positive.

SWOT Analysis is a simple but useful framework for analyzing your organization's strengths and weaknesses, and the opportunities and threats that the company face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you will giving you the opportunity to ward off possible threats from external sources.

SWOT analysis provides a structure for analyzing either your own strengths and weaknesses, and the opportunities and threats you face, or in a work context for analyzing the strengths, weaknesses, opportunities and threats a business or event faces. Ideally it is one step in a process which helps you to

Swot analysis refers to the strength, weaknesses, opportunities and the threats that a business faces. Every company has its strengths, weaknesses, opportunities and threats that it faces.

The SWOT analysis is business analysis method that business can use for each of its department when deciding on the most perfect way to increase their business and future growth. This procedure identifies the internal and external strengths, weaknesses, opportunities and threats that are in the markets.

SWOT analysis is a planning and brainstorming tool that helps people evaluate an idea or project for a business or formulate a business plan (Harmon, 2015). It should be noted that SWOT analysis is an acronym for Strengths, Weaknesses, Opportunities, and Threats. The author explained that the purpose of SWOT analysis is to identify how internal and external factors influence a business. The author further suggested that this process will shed light on a business internal strengths and weaknesses- for instance reputation, and external opportunities, such as competitors and threats. In addition, this method can inspire ideas about how to improve a business or help to determine how a new business will perform. Harmon (2015) recommended that existing businesses should use the SWOT analysis to evaluate if changes are needed to remain competitive in the marketplace. The article highlighted that many types of organizations employ SWOT analysis to develop plans for future growth. By the same token, Harmon advised that new businesses should use SWOT analysis as part of their planning and development phases.

SWOT is an acronym for Strength, Weaknesses, Opportunities and Threats. It is a popular analysis technique used in planning, problem solving and decision making across an assortment of business functions and activities. While there are various types of consultancy firms, a SWOT analysis can be performed as part of the planning process to analyze a firm’s business growth potential.

According to, (Rowe & Britz, 2009), A SWOT analyses can be defined as an assessment of a business’s Strengths and weaknesses of a business, as well as the external opportunities presented, and threats. (Rowe & Britz, 2009) Stated that a SWOT analyses will help a business identify these and will show were the business can grow and become competitive in their business market place. By conducting a SWOT analyses you are able to formulate questions that a business would need to analyse in order to asses there opportunities and threats and how they can utilise them In order to be successful.

The SWOT analysis is an important method for developing a company’s strategy based on the identified and studied company strengths, weaknesses, opportunities, and threats. The analysis provide the business leaders with a perspective of what the business does bets and where the company has the greatest potential expand. Additionally, the analysis can be used to analyze a given business issue and find a lasting solution to the issue.

SWOT analysis is a framework that allows managers to synthesize insights obtained from an internal analysis of the company’s strengths and weaknesses with those from an analysis of external opportunities and threats. Strengths are those factors that give an edge for the company over its competitors. Weaknesses are those factors that can be harmful if used against the firm by its competitors. Opportunities are favourable situations which can bring a competitive advantage. Threats are unfavourable situations which can negatively affect the business. The comparison of ABCD analysing framework and SWOR analysing framework is given in table 1.

A SWOT analysis is an evaluation a company’s strengths, weaknesses, opportunities, and threats (Armstrong, 2010, p.77). A SWOT analysis is a useful tool in comparing a business, or in this case a character’s, traits to the situation and to other characters.

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.[1]

swot analysis stands for Strength, Weakness , Opportunity and Threats of organisation in external or even internal market condition . Swot analysis is simple and straight-forward method model that determine what company can't do, seek the possible opportunity and limitation or threats. Swot analysis is accessible and it includes quantitative and qualitative analysis for the company.

For clarity, the SWOT Analysis is divided up into 2 – divisions positive and negatives. The positives are strengths and opportunities. The eagtives are weaknesses and threats.

SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.