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Write A Brief Note On SWOT Analysis

SWOT analysis is a technique used to assess an organization's strengths, weaknesses, opportunities, and threats. It involves identifying internal strengths and weaknesses as well as external opportunities and threats. Conducting a SWOT analysis helps organizations craft effective strategies, maximize their strengths and opportunities, and mitigate weaknesses and threats. It provides a holistic view of the organization to inform strategic planning and decision making.

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Sibtul Hassan
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374 views2 pages

Write A Brief Note On SWOT Analysis

SWOT analysis is a technique used to assess an organization's strengths, weaknesses, opportunities, and threats. It involves identifying internal strengths and weaknesses as well as external opportunities and threats. Conducting a SWOT analysis helps organizations craft effective strategies, maximize their strengths and opportunities, and mitigate weaknesses and threats. It provides a holistic view of the organization to inform strategic planning and decision making.

Uploaded by

Sibtul Hassan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Write a brief note on SWOT Analysis.

Also discuss that why organizations needs to


conducts the SWOT analysis of in context of product, services and other offerings?

SWOT Analysis:
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT Analysis
is a technique for assessing these four aspects of your business.

You can use SWOT Analysis to make the most of what you've got, to your organization's best
advantage. And you can reduce the chances of failure, by understanding what you're lacking, and
eliminating hazards that would otherwise catch you unawares.

Better still, you can start to craft a strategy that distinguishes you from your competitors, and so
compete successfully in your market.

Performing a SWOT Analysis

Many larger companies seek outside help when conducting a SWOT analysis but if you’re a sole
proprietor or your business only has a few employees, it’s something that you should be able to
do on your own. Whether you use a four-square template or make a simple list isn’t as important
as the kinds of questions you’re asking yourself and what you discover about your business
throughout the process.Assessing Strengths and Weaknesses Start by listing all of your
business’s strong points. Some of the things you might want to focus on include what you do
well, what unique skills or experience you possess, and what it gives you an edge over your
competitors. You also want to include tangible and intangible business assets, such as well-
educated, highly capable employees or a significant amount of start-up capital.

Evaluating Opportunities and Threats

The opportunities section is where you’ll look at where your business is currently, what your
short and long-term goals are, and what you need to do to achieve them. You should also be
thinking about ways you can help your business grow or expand your existing customer base.
This could be something as simple as making an effort to connect on Facebook and other social
media sites, or offering a broader range of services. The wider you cast your net, the more
opportunities you’re likely to uncover.

Why Is All of This Important?

A SWOT analysis can be extremely valuable in shaping your business strategy because it gives
you a chance to see things from a new perspective. It may lead to the discovery of a previously
untapped niche in your market or help you to pinpoint an obstacle that could hinder your
business’s growth. As you reaffirm what your business’s strengths are and correct your
weaknesses, you can use this to shape new opportunities and counteract the impact of external
threats.

What is the purpose of SWOT analysis?

We can say that the purpose of SWOT analysis is to study the internal and external environments
of a company, through the identification and analysis of the strengths and weaknesses of the
organization, and the opportunities and threats to which it is exposed.

Part of the purpose of SWOT analysis is to also assertively identify factors that influence the
functioning of the organization providing very useful information in the strategic planning
process.

You can divide SWOT analysis into two parts: the internal environment where strengths and
weaknesses are identified, and the analysis of the external environment, where threats and
opportunities are determined.

Some of the objectives of SWOT analysis:

 To make a summary analysis of external and internal factors.


 To identify key items for the management of the organization, which involves
establishing priorities for action.
 To prepare strategic options: risks and problems to solve.
 It is through analysis that we can determine the diagnosis of the company: strengthening
the positive points, indicating which points should be improved, chances of growth,
increasing opportunities, etc.
 To conduct a sales forecast in agreement with market conditions and study the
capabilities of the company in general.
 Internal environment (Strengths and Weaknesses) – the integration and standardization
of processes, the elimination of inefficiencies. Focus on the core of the business.
 External environment (Opportunities and Threats) – to have reliable and trustworthy
data, to receive information quickly to support management in strategic decision making
and to reduce errors.

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