Strengths And Challenges Of The SWOT Analysis Of A Company

SWOT refers to the analysis of a company / industry / entity with respect to their strength, weakness, opportunities and threats. Here, strengths and weaknesses are internal to company and opportunities and threats are external to company. As a part of analysis, strengths and weaknesses of a company are identified and it is used to identify and match with opportunities in the business environment. Further, existing and upcoming threats are also identified that can harm the company.

SWOT analysis allows for the creation of a plan of actions that is necessary for using a company’s strengths and for minimizing the effect of its weaknesses in order to increase the company’s opportunities and lower the risk of threats (Kolbina, 2015). Further, the SWOT analysis determines what assists the firm in accomplishing its objectives, and which problems need to be minimized to achieve the desired results. For instance, where the organization is currently at, and where it may need to be in the future.

Gwendolyn, your discussion post for this weak was very interesting to me. I like when you stated that ‘A SWOT analysis should roadmap the purpose for business and aid in the decision-making process’. A company SWOT analysis should show its purpose and how to analyze and look at all areas of the organization and then develop a plan for the organization ( Parnell, 2014). Gwen it also is very helpful to know what the word SWOT means. SWOT means threats, weakness, strength, and opportunities. SWOT involves composing a list of weakness and strengths for a business that pertain to a project and then look at the threats from the outside of the company and how it will impact the company. Gwendolyn is also is very helpful to a business to

Throughout my college career, I have been involved in a wide variety of organizations and internships that not only refined my business skills, but also provided me the realistic experience in the business realm. I have experienced a wide-range of activities and work that span from selling automobile parts to providing services to patients recovering from substance abuse and mental illness. Throughout this journey, I was given an opportunity to not only develop my business marketing skills, but allowed a glimpse of the industry (and the systematic process of that particular field) as well. One particular occupation that sticks out is the sales position at RadioShack. During my freshman year in college, I began working at RadioShack to

SWOT analysis focuses on the internal factors which are the company’s strengths and weaknesses as well as the external factors which are the opportunities and threats which are gained from situational analysis which focuses on summarizing all the pertinent information acquired about the key three environments of internal, customer, and external (Ferrell & Hartline, 2014, p. 39). A SWOT analysis further gives a company precise advantages and disadvantages in satisfying the needs of its selected markets.Even more importantly, SWOT helps a company to determine where it exceeds greatly in strategy and areas in which more improvements are needing to be made. SWOT is heavily utilized by many corporations and this analysis has gained an even greater global welcoming from its comprehensible structure in which is highly regarded for many aspects such as organizing a company’s strategic position when developing a marketing plan.

Hill & Westbrook (1997) define SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis as a framework that is specially designed to assist a business organization identify its strengths and its weaknesses and the possible opportunities and threats that the business faces. SWOT advocates that the business should focus more on its strengths, take the highest level of advantage on the available opportunities and work to reduce the levels of the possible threats and those that are already existing.

When the SWOT analysis is done, it is used as the foundation of objective setting, strategy setting and usage. The SWOT analysis is concentrated upon the most important factors and it is useful in a difficult strategic situation. The strengths are analyzed to reach opportunities and to avoid threats. The search of weaknesses is of importance as it allows the manager to minimize them.

1. SWOT matrix is an approach that is used to evaluate the strengths, weaknesses, opportunities as well as the threats that are associated with all the activities of the organization. An organization should conduct a SWOT analysis strategy with an aim of ensuring that it meets all its set goals. More so they will be at a position of identifying their competitors with whom they operate same businesses so as to ensure they remain competitive in the market. When evaluating the strength of an organization, organizations such as American Express should ensure that all the strengths of that organization are listed and more so it should ensure that

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

It is important for companies to perform such things as a SWOT analysis to evaluate their positions with internal and external factors. They help managers to see how they are performing and where they should focus their efforts to stay in competitive advantage with their

Here we will analyze the company through the SWOT process in order to understand the strategies formulated in the next step. This step is actually not in the comprehensive model of strategic management but it is something every analysis takes into consideration.

Moreover, the “inside-out” strategy also affects company within its internal value. SWOT is one of the methods to construct for a successful strategic planning. To start with, strength is the advantages that the company owns the most than others as the internal factors. Take SONY the electronic manufacture company as an instance; the strong brand image “SONY” has highest reputation for the electronic consumers with its guaranteed values and modern designs are the

Swot analysis is the most essential and first phase of planning. It is a criticism system to make new methodologies for any association. Qualities, Weaknesses, Opportunities and Threats are the four segments of a swot analysis. Weaknesses and Strengths are corresponded and analyse the internal piece of the business analysis while Opportunities and Threats manage the external environment of business operation.

SWOT stands for strengths, weaknesses, opportunities, and threats (Ferrell and Hartline, 2014, p. 39). A SWOT analysis evaluates both the internal factors (strengths and weaknesses) and external factors (opportunities and threats) that create advantages and disadvantages to a company when serving its customers (p. 39). A SWOT analysis is extremely beneficial in helping a company determine areas of improvement (p. 39). Internal factors examine the actual company being analyzed while external factors examine the external market (customers and competition) (p. 85).

SWOT Stands for Strengths, Weaknesses, Opportunities’ and Threats of a organization. SWOT analysis determines what may support the firm in every critical ways in which they can achieve its objectives and what difficulties must be taken down to achieve the objectives. SWOT analysis is a basic factor of an organization that evaluates what an organization is capable of and what it is not capable of. SWOT analysis is a way to receive all kind of the information from the external and internal environmental issues of a particular organization. It shows up a difference what could the business lead to improvements in a particular based analysis, what it will show up in future and the difficulties it will face. It is a