3. What is a 'SWOT Analysis'
A SWOT analysis is a tool that identifies
the strengths, weaknesses, opportunities
and threats of an organization. Specifically,
SWOT is a basic, straightforward model that
assesses what an organization can and cannot
do as well as its potential opportunities and
threats.
4. why do you need ?
A SWOT analysis guides you to identify your organization’s
strengths and weaknesses as well as broader
opportunities and threats . Developing a fuller awareness
of the situation helps with both strategic planning and
decision-making. Distinguish between where your
organization is today, and where it could be in the future.
6. Strengths
• A firm's strengths are its resources and
capabilities that can be used for developing a
competitive advantage. Examples of such
strengths include:
• Patents
• Strong brand names
• Good reputation among customers
• Cost advantages from proprietary know-how
• Exclusive access to natural resources
• Good access to distribution networks
7. Weaknesses
• The absence of certain strengths are a
weakness. For example, the following may be
considered weaknesses:
• Lack of patent protection
• A weak brand name
• Poor reputation among customers
• High cost structure
• Lack of access to best natural resources
• Lack of access to key distribution channels
8. Opportunities
• The external environmental analysis may reveal
certain new opportunities for profit and growth.
Some examples of such opportunities include:
• An unfulfilled customer need
• Arrival of new technologies
• Loosening of regulations
• Removal of international trade barriers
9. Threats
• Changes in the external environmental also
may present threats to the firm. Some
examples of such threats include:
• shifts in consumer tastes away from the
firm's products
• emergence of substitute products
• new regulations
• increased trade barriers
10. What does SWOT mean in business
terms
It is a way of summarizing the current state of a
company and helping to devise a plan for the
future, one that employs the existing strengths,
redresses existing weaknesses, exploits
opportunities and defends against threats.
11. Aim of SWOT Analysis
• To help decision makers share and compare ideas.
• To bring a clear common purpose and understanding of
factors for success.
• To organize the important factors linked to success and
failure in the business world.
• To provide in early to the decision making process
allowing complex ideas to be presented systematically.
• To analysis issues that have led to failure in the past.