SWOT ANALYSIS

SWOT Analysis

SWOT Analysis

Abstract

SWOT analysis the strengths, weaknesses, opportunities and threats of the organization. The first two heads determine the internal structure of the organization while the latter two show the exterior picture. This analysis represents an effort to examine the interaction between the characteristics of your business and the environment in which it competes. The SWOT analysis is a widely used method of strategic planning. SWOT analysis is reported to be the most commonly used technique for management decision making. SWOT analysis should be done with the creation of a business plan. SWOT analysis comprises of ambiguity in the perceptions of managers about the strengths and weaknesses of their companies. SWOT analysis can create complications when the existing strengths of the organization turn into weakness in a span of time. Secondary research has been conducted for this paper. It is concluded that with proper research and studies can the SWOT be successful and ready for implementation.

Introduction

SWOT analysis is the tool for strategic planning, which analyzes internal and external factors of an organization. The internal factors include the strengths and weaknesses of the organization. The external factors include the position of the organization in terms of its opportunities and threats in the industry and market. This analysis represents an effort to examine the interaction between the characteristics of your business and the environment in which it competes. The SWOT analysis has many applications and can be used by all levels of the corporation and in different units of analysis such as product, market, product-market, product line, corporation, company, division and strategic business unit. Many of the conclusions reached as a result of the SWOT analysis may be of great use in market analysis and marketing strategies that I designed and qualified for inclusion in the business plan.

The SWOT analysts should focus only on the factors key to the success of your business. It should highlight the strengths and weaknesses internal differential when compared in an objective and realistic competition and the opportunities and threats environmental cues. It is well-structured subjective tool. It must be finalized with consensus before its critical analysis. SWOT analysis is a tool for structuring the available information; it does not give clear and unequivocal recommendations or answers. It only helps to visualize the main factors, as well as a first approximation to estimate the expectation of certain events. Its formulation is based on the recommendations of this information by the work of the analyst (Henry 2008, 118).

The strength, weakness, opportunity, threat (SWOT) analysis are one of many planning and scoping tools which can be used for this planning. When used in conjunction with the analytic hierarchy process (AHP), SWOT factors can be ranked and be given quantitative data. Given that businesses have limited time and money, having quantitative available makes decision making more scrupulous and analytical. SWOT analysis is useful in the competitive and mixed environment with reference to the organization. A SWOT analysis determines the strategic fit between the needs and capabilities of the ...