ObjectivesStudents will be able to: describe what is meant by SWOT analysis examine the usefulness of SWOT Make judgements about the benefits and limitations of SWOT analysis.
Strengthcharacteristics of the business, or project team that giveit an advantage over other
Weaknessesare characteristics that place the team or the businessat a disadvantage relative to others
Opportunitiesexternal chances to improve performance (e.g. makegreater profits) in the environment
Threatsexternal elements in the environment that could causetrouble for the business or project
SWOT UsefulnessIt helps in identifying core competencies of the firm.It helps in setting of objectives for strategic planning.understand your business betteraddress weaknessesdeter threatscapitalize on opportunitiestake advantage of your strengths
Swot Limitationsdoesnt prioritize issuesdoesnt provide solutions or offer alternativedecisionscan generate too many ideas but not help you choosewhich one is bestcan produce a lot of information, but not all of it isuseful.
ConclusionWhat is meant by SWOT ?How useful is a SWOT ,What are the benefits of aSWOT?What are the limitations of a SWOT ?