4. SWOT Is An Acroynm Of Four Factors Of Business Organisation.
S - Strength.
W - Weakness.
O - Opportunities.
T - Threats.
It Is Business Analysis Technique Is Used By
Organisation To Achive Future Growth.
5. A ‘STRENGTH’ Is Something That Has Positive Implication .
It Includes Tangible Assets , Captail , Loyal Customers ,Equipments And Other
Valuable Rsources.
Certain Questions To Know About Strength :
1. What Do Others See As Our Strength?
2. What Advantages Do We Have Over Competitors?
3. What Qualities Attract Customers To Buy Our
Product Or Service?
6. ‘WEAKNESS ‘ Are Those Characteristics of The Business That Place Business
At Disadvantage.
Weakness Of Business Organsiation Can Be Unfriendly Staff , Unethical
Production .
By Identifying Such Weakness Business Can Improve Its
Activities.
Certain Questions To Know About Weakness :
1. What Do We Do Badly ?
2. What Sholud Be Avoided ?
3. What Are Customers Reviews ?
7. Opportunities Can Occur For Variety Of Reasons And May Result From
Changes Within The Market ,Customer Lifestyle Changes , Advancing
Technology , New Production Methods Etc.
Early Identification Of Opportunities Helps An Business To Grab The Benifet.
For Ex : Maruti Udyog Became The Leader In Small Car Market Because It Was
First To Recognise The Need For Small Cars In An Envrionment Of Rising
Petroleum Prices .
8. ‘THREATS’ Refers To Elements In The Environment That Cause Trouble For
Business.
Threats Are Beyond Control Of Anyone.
Threats Can Be:
1. Competitors Reducing Prices.
2. New Technology.
3. Government Regulations.
4. Change In Consumer behaviour.
9.
10. 1. Select An Individual To Facilitate The SWOT Analysis
2. Brianstrom A Company Or Unit’s Strength.
3. Consolidate Ideas .
4. Clarify The Ideas.
5. Identify Top Three Strengths.
6. Summarize Strengths.
Repeat 2-6 For Conducting Weakness , Opportunites And Threats.
11. ADVANTAGES
It Is Source Of Information For
Planning.
Builds Organisation’s Stregth.
Reverse Its Weakness.
It Helps In Setting Of Objectives.
To Win Over Competitors.
DISADVANTAGES
Time Consuming.
Expensive.
Subjective .
Requires Highly Qualified Or
Talented person.
Fails In Dynamic Environment.