Swot Analysis : The Swot

3. The acronym SWOT stands for an organizations strengths, weaknesses, opportunities and threats. A SWOT analysis is strategic planning method that evaluates the internal and external performance of an organization to see if it’s favorable or unfavorable to achieve whatever objective you are set out to accomplish. Strengths and weaknesses usually arise from the internal aspect of an organization, whereas opportunities and threats evolve from external components. By performing a SWOT analysis it provides information to managers to help formulate a successful strategy to achieve goals.

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 is an acronym for Strengths, Weaknesses, Opportunities and Threats. By definition, Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control. SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose to

Many companies use SWOT analysis to understand their position in the market and develop a plan of action. Therefore, a SWOT analysis is an important part of the project planning. Strength (internal factors): attributes of the organization that helps accomplish the project objective. Weaknesses (internal factors): attributes of the organization that stops the accomplishment of the project goal. Opportunities (external factors): external conditions that help accomplish the project. Threats (external factors): external conditions that could impair the project.

A SWOT analysis is an analysis based on the strengths, weaknesses, opportunities, and threats of a company. SWOT analysis is the first phase in gathering information for strategic planning (Wheelen, Hunger, Hoffman, & Bamford, 2015). A SWOT analysis plays a significant role in strategic planning because it is the discovery phase of what the company needs to succeed. It is a tool used to examine a company’s state of health and improve on its opportunities. It gives a detailed understanding on areas that need attention as well as areas that are striving. It also gives companies a clear view of the advantages and disadvantages they have over their competitors. A SWOT analysis was created for The Home Depot to get a better understanding of the company and its strategic planning.

The SWOT analysis is a tool that is used to identify and understand the internal strengths and weaknesses in an organization and the external threats and opportunities in the market environment the organisation is operating in. Ferrell & Hartline (2011), state that it helps an organization chart a niche that is sustainable in a particular market. It helps the organisation identify a growth pattern or path that would best exemplify its good values and opportunities for the benefit of the shareholders.

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.

The SWOT analysis tool is utilized to adequately evaluate and make the necessary improvements towards the overall operations of the organization with the hopes of creating distinguishable traits as opposed to other organizations within the market. This is often times referred to as an internal- external analysis that assesses strengths, weaknesses, opportunities and threats of the organization. The SWOT framework can assist an organization by distinguishing it from competitors and improved market success and assist with creating an organizational strategic plan. Healthcare is an area where the SWOT framework and analysis is currently being used, primarily due to recent changes in healthcare and to improve patient outcomes as well as financial sustainability. Comanche County Medical Center is a healthcare center that will be evaluated using the SWOT analysis and the outcomes revealed.

This paper is my personal SWOT analysis. The SWOT analysis discusses four specific categories to evaluate a project, situation or in my case my personal and professional life (Hay, Castilla, 2006). In this analysis I will look at the strengths, weaknesses, opportunities, and threats that I need to address in my life. The concept of this type of analysis is a great way to find out ways to improve, but at the same time is a difficult task for someone like me who has a hard time outwardly expressing self attributes. That might be one of my weaknesses or threats, on the other hand it might be what makes me a good listener to others. I will refer to the SWOT analysis chart throughout this paper (figure 1.1) the list was difficult but, I feel it is pretty close to complete.

A SWOT analysis must be updated often to stay current and useful. The SWOT analysis included the important elements that strengths and weaknesses are internal aspects, which can be controlled by the by them. On the contrary, opportunities and threats are external aspects, which are outside of the control of the program and are determined by its environment.

SWOT analysis helps you decide your position against your competitors, identifies best future opportunities, and highlight current and future threats. SWOT analysis is an acronym for Strength, Weakness, Opportunity and Threat. Strengths and weaknesses are internal factors that you have within your business on which you have full control whereas opportunities and threats are external factors on which you have no control.

In other words, it analyzes the current situation of a firm in terms of performance and efficiency and highlights the opportunities and threats that might be facing it in the future. Based on the SWOT Analysis, the management will be able to put together a strategy that focuses on developing the weaknesses and capturing the opportunities. The internal factors consist of the strengths and weaknesses and external factors consist of the opportunities and threats are analyzed.

Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially less control.

The SWOT analysis uses the strength as internal advantage, Weakness as internal disadvantage, Opportunity as external advantage to the system and threat as External disadvantage to the system as a way to classify the various operation management issues using a structured format.

During our market survey, we discover that there are no other tuition centers providing the specialized and targeted services to the target market, which gives our company an edge that will make it a compelling purchase for our customers and to survive for some time to come. The experienced team we have and their vast knowledge around their courses grants the company an advance ability to provide specialized services that no one else can compete with. Moreover, the service is further differentiated by the following options: one-to-one services, based on a personalized evaluation of each student to identify their specific strengths as well as their weaknesses and thereby motivate, encourage, support and boosting their confidence so as to be able to turn their weaknesses into strengths. This strategy takes into account the awareness that every child learns in various ways (Visual and orally). Furthermore,