preview

Strengths, Weaknesses, Opportunities And Challenges

Satisfactory Essays
SWOC ANALYSIS
SWOC is an acronym for Strengths, Weaknesses, Opportunities and Challenges.SWOC analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose is to identify the strategies that will create a firm specific business model that will best align an organization’s resources and capabilities to the requirements of the environment in which the firm operates.In other words, it is the foundation for evaluating the internal potential and limitations and the probable/likely opportunities and threats from the external environment. It views all positive and negative factors inside and outside the firm that affect the success. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization.
An overview of the four factors (Strengths, Weaknesses, Opportunities and Challenges) is given below:-
 Strengths -Strengths are the qualities that enable us to accomplish the organization’s mission. These are the
…show more content…
WEAKNESSES
 As the tourism industry is closely united with several other industries like hotel and accomodation, aviation, railway, roadways, healthcare, entertainment, etc combined weaknesses of all sectors makes it more
Get Access