The Value and Elements of a SWOT Analysis Alissa Belinkie, Angela Wolf, Bonnie Smitheal, Grisel Rosa-Ayala, Joshua Bird, and Lourdes Higdon University of Phoenix BUS/475 Integrated Business Topics November 28, 2016 Ramzy Noel Running head: THE VALUE AND ELEMENTS OF A SWOT ANALYSIS 1 THE VALUE AND ELEMENTS OF A SWOT ANALYSIS 2 The Value and Elements of a SWOT Analysis The SWOT analysis is an easy and influential way to create tactical options for a business to formulate an evaluation of its position internally and externally. Internally, the strengths and weaknesses of the business are distinguished, while externally the opportunities and threats are established to give a company a foundation to build upon for its future. The elements of a SWOT analysis allow a company to utilize its strengths, combat its weaknesses, benefit from opportunities that arise, and to prevent destructive threats. While the SWOT analysis is not a solution to the elements a company may face, it can provide a starting point for setting goals, devising strategies, and execution. Identifying the key factors from this specific evaluation is a valuable tool that affects a company’s adeptness to attain its purpose and vision while narrowing down what is significant to that particular business. SWOT Elements There are four elements of a SWOT analysis. Strengths and weaknesses are the first two and are about the internal conditions of the business, where the business is strong to where the business requires improvement. Opportunities and threats are external environmental conditions that the company may face. Each company will have its own set of potential opportunities and threats, while a factor can be an opportunity for one business it could be a threat for another. The SWOT analysis can be done in different ways depending on the business and how in depth it wants to get with the analysis. However, each analysis will always have the four basic elements (strengths, weaknesses, opportunities, and threats). Each company can decide how it wants to break it down and how much it wants to assess the business. Other elements that will be different for each company are threats and opportunities. For example, the focus on health and good eating could be an opportunity for gyms, personal trainers, health stores and more. However, the trend is a threat to tobacco companies, fast food chains, and anything else that may be perceived as “unhealthy”. Overall, the SWOT analysis can be used for any business, individual, or situation since the idea is simple. Value of a SWOT Analysis (Grisol) SWOT Analysis Purpose SWOT is an acronym that identifies four critical elements such as strengths, weaknesses, opportunities, and threats. The purpose of a SWOT analysis is a company’s strategic planning proves where it connects its objectives and strategies to actionable tactics carried out by employees. “SWOT analysis is a simple yet powerful framework for generating strategic alternati ...