Swot analysis
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This document discusses SWOT analysis, a technique for assessing the strengths, weaknesses, opportunities, and threats of a business. It provides tips for conducting an effective SWOT analysis, including selecting the right team, using a well-drafted format, and periodically reviewing the analysis. The document also gives examples of internal and external factors that could be considered for each component of a SWOT analysis. Conducting a SWOT analysis can help businesses with strategic planning by providing a clear understanding of success factors, risks, and decisions.
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Swot analysis
- 1. SWOT Analysis- Powerful tool for strategic business planning PPT.KUNZITE.13 Version 00.2021
- 2. PPT.KUNZITE.13 Version 00.2021 SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business in the book Strategy Safari (1998), management scholar Henry Mintzberg and colleagues of strategic management, "with its famous notion of SWOT" emphasizing assessment of a company's internal and external situations
- 4. PPT.KUNZITE.13 Version 00.2021 Tips for the best practices •Select right team for the analysis •Design a well drafted format •Note each aspect of every factor •Include tangible and intangible factors •Skills and knowledge must be consider as strength and weakness •Review of the document periodically
- 5. PPT.KUNZITE.13 Version 00.2021 Strengths are internal, positive attributes of your company. These are things that are within your control. What business processes are successful? What assets do you have in your teams? (ie. knowledge, education, network, skills, and reputation) What physical assets do you have, such as customers, equipment, technology, cash, and patents? What competitive advantages do you have over your competition?
- 6. PPT.KUNZITE.13 Version 00.2021 Abundant Financial Resource Well known brand name Lower cost Superior management team Knowledge and Skill of the organization Committed employees Trust of the customer
- 7. PPT.KUNZITE.13 Version 00.2021 Weaknesses are negative factors that detract from your strengths. These are things that you might need to improve on to be competitive. Are there things that your business needs to be competitive? What business processes need improvement? Are there tangible assets that your company needs, such as money or equipment? Are there gaps on your team? Is your location ideal for your success?
- 8. PPT.KUNZITE.13 Version 00.2021 Limited Financial resource Weak Spending on R&D Very narrow product Range Limited Distribution and poor skills Higher cost out of date products /technology Poor Management skills Dissatisfaction of the Customer
- 9. PPT.KUNZITE.13 Version 00.2021 Opportunities are external factors in your business environment that are likely to contribute to your success. • Is your market growing and are there trends that will encourage people to buy more of what you are selling? • Are there upcoming events that your company may be able to take advantage of to grow the business? • Are there upcoming changes to regulations that might impact your company positively? • If your business is up and running, do customers think highly of you?
- 10. PPT.KUNZITE.13 Version 00.2021 Rapid Market growth Rival Firm are self-satisfied Changing customer needs New Products and technology Economic booms Govt. deregulations
- 11. PPT.KUNZITE.13 Version 00.2021 Threats are external factors that you have no control over. You may want to consider putting in place contingency plans for dealing with them if they occur. Do you have potential competitors who may enter your market? Will suppliers always be able to supply the raw materials you need at the prices you need? Could future developments in technology change how you do business? Is consumer behavior changing in a way that could negatively impact your business? Are there market trends that could become a threat?
- 12. PPT.KUNZITE.13 Version 00.2021 Entry of foreign competitors Introduction of new substitute products Products life cycle decline Change on customer mentality, need and taste Rival firm new strategies Increased Govt. regulations
- 13. PPT.KUNZITE.13 Version 00.2021 To help decision maker to share and compare ideas To bring a clear common purpose To understand the factors for success and failure To provide linearity of the decision To break complex decision to systematic one To help organization self evaluation
- 14. PPT.KUNZITE.13 Version 00.2021 It is very subjective Pace of updating is very slow Need too much information and may be not real one Loss of objectivity Conflicts factors etc.