Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Vintage fun reproduces old fashioned style roller skates and skateboards

18/03/2021 Client: saad24vbs Deadline: 2 Day

SWOT analysis Strategic planning Competitive advantage in business

Abstract:

SWOT analysis is a planning and brainstorming tool that helps people evaluate an idea or project for a business or formulate a business plan. SWOT stands for strengths, weaknesses, opportunities, and threats. People use this method to understand a business's internal strengths and weaknesses and external opportunities and threats. This analysis can provide people with ideas about how to improve a business, or it can help them determine how a new business will perform.

Full Text Word Count:

1348

Accession Number:

100259317

Database:

Research Starters

SWOT analysis

Full Text

Listen

SWOT analysis is a planning and brainstorming tool that helps people evaluate an idea or project for a business or formulate a business plan. SWOT stands for strengths, weaknesses, opportunities, and threats. People use this method to understand a business's internal strengths and weaknesses and external opportunities and threats. This analysis can provide people with ideas about how to improve a business, or it can help them determine how a new business will perform.

100259317-94028.jpgExample of SWOT analysis By Syassine (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

Overview

SWOT analysis is mainly used as an assessment tool for businesses. It is used to organize information, identity issues, determine solutions, and suggest opportunities. Business people can use this method to identify areas where a company performs well and target areas that need improvement. It can help a company focus on its strengths while reducing and eliminating weaknesses. More than one person should be involved in the creation of a SWOT analysis. A wide range of employees, including those in management and nonmanagement positions, should be involved to generate as many ideas as possible. Involving employees in this process helps them understand how the company works and how decisions are made.

The purpose of SWOT analysis is to identify how internal and external factors influence a business. Internal factors include strengths and weaknesses, such as reputation. While these factors can be changed, this often takes time and effort. External factors include opportunities and threats outside of the company, such as competitors. These affect a business and can be managed, but they typically cannot be changed.

Existing businesses should use a SWOT analysis to assess if changes are needed to remain competitive in the marketplace, while new businesses should use SWOT analysis as part of their planning and development phases. Many types of organizations use SWOT analysis to develop plans for future growth.

How to Draft a SWOT Analysis

To draft a SWOT analysis, people can create a foursquare table that allows them to compare internal issues (strengths and weaknesses) to each other and external issues (opportunities and threats) to each other and then compare all four against one another. Placing internal elements and external elements side by side allows people to compare and contrast these elements with one another and easily distinguish serious issues that the company must address. This can also be accomplished by making a list for each category.

Companies can hold brainstorming sessions with multiple employees to gather their input. Individual employees might even fill out their own SWOT analyses. Once company employees have highlighted internal issues that need to be addressed, leaders should prioritize these problems. The company leaders should then determine if these issues are worth fixing.

Strengths and Weaknesses

Internal factors can be controlled and changed. When listing these, employees should include both positive and negative issues to present a clear picture of things that are working well and things that need to be fixed. The following are some examples of internal factors:

· Current processes—these keep a company going and include employee programs, department hierarchies , and software systems.

· Finances—this includes all money that comes into and goes out of a business, such as income and investments.

· Human resources—these are the people involved in the business, such as employees and customers.

· Natural resources—this involves the company's access to copyrights , patents, and trademarks.

· Physical resources—this includes the location of the business and its facilities and equipment.

· Miscellaneous—employees can include other issues related to strengths and weaknesses, such as company culture, image, operations, and staff.

When brainstorming, employees should ask questions about each internal factor. Sometimes it helps to focus on the strengths (positives) first and then focus on the weaknesses (negatives). Employees can ask what the company does well. Then, they can follow up by considering what the company could do better.

Opportunities and Threats

Once company employees have established internal factors, they should focus on external forces. Every business, organization, and individual is influenced either directly or indirectly by external elements that cannot be controlled. The following are some examples of external forces:

· Demographics —this refers to the target customer's age, culture, gender, and race.

· Economic trends—these include local, state, national, and international financial trends.

· Finances—this includes money coming into the business in the form of donations, grants, and more.

· Market trends—these include new products or technology as well as shifts in consumers' interests .

· Miscellaneous—other factors include economic, environmental, and political regulations.

As with internal factors, employees should ask questions about each area to determine the steps to take to gain opportunities and minimize threats. They should first ask questions about what opportunities exist and then discuss the company's competitors.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

A Grade Exams
Professional Accountant
Top Academic Guru
Smart Accountants
Academic Master
High Quality Assignments
Writer Writer Name Offer Chat
A Grade Exams

ONLINE

A Grade Exams

I have read and understood all your initial requirements, and I am very professional in this task.

$60 Chat With Writer
Professional Accountant

ONLINE

Professional Accountant

I have read and understood all your initial requirements, and I am very professional in this task.

$25 Chat With Writer
Top Academic Guru

ONLINE

Top Academic Guru

I have read and understood all your initial requirements, and I am very professional in this task.

$37 Chat With Writer
Smart Accountants

ONLINE

Smart Accountants

Give me a chance, i will do this with my best efforts

$95 Chat With Writer
Academic Master

ONLINE

Academic Master

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$91 Chat With Writer
High Quality Assignments

ONLINE

High Quality Assignments

I have read and understood all your initial requirements, and I am very professional in this task.

$102 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Statistics - Farah chatelier - Home builders insurance nsw - 68 odd or even - Executive protection plan sample - The radicalism of the american revolution pdf - Viva la causa viewing guide answers - Sandtoft new rivius slate - Filipino shop fortitude valley - E700 sp dcl pipe - Why are there few absolutes in ob - 19670 townline road mokena il - Next week super discount airlines has a flight - Rosenthal company manufactures bowling balls - Introduction to the kitchen test - Btec qcf grade calculator - Macroeconomics cheat sheet graphs - Forum: Chapter 9: Discussion - Nabha asx share price - Ribble valley riding club - Reflection Paper - Exchange message tracking eventid - Summarize content in textbook - Discussion: Risk-Taking Behavior Among Adolescents - Blackburn gurdwara langar timings - Born a crime chapter 1 pdf - What was lincoln's primary goal immediately following the civil war - What is the atomic radius of xenon - NEED IN 7 HOURS or LESS (NO EXCEPTION) - Blackline balance sheet reconciliation - Reflections 01 - IDK - Engineering commerce course map - The three attributes of npv are that it - Mutts in the hunger games - Writing Exercise 5 - Read Stamped from the Beginning , - Afn equation excel - Rectus femoris injection site - Introduction to management science edition solutions - Discussion 1: Evidence Base in Design, NURS 6050 Policy and Advocacy for Improving Population Health - Whole foods market the deutsche bank report case analysis - One door opens when another door close - Crown employees school administrative and support staff award - Value of cloud computing to a small organization - Https sourceforge net projects projectlibre - What evidence can you cite that galactic cannibalism really happens - Persuasive Essay - Discussion questions - The earthquake was accompanied by extensive fire damage - Chain of command organizational structure - Australian publishers association directory - Communication - Family nursing research theory and practice friedman pdf - Three branches of science - What is vote of thanks - SUMMARY OF RECONSTRUCTION AND THE NEW SOUTH - Density of acetylacetone in g ml - UNIT VIII POWER POINT MBA 6001 - Functional areas of unicef - P - This chick is wack ballyhoo lyrics - Write a program to test class rectangle - Poole borough council planning - Laplace transform of unit step function in matlab - Accommodation near wilsons promontory national park - Eudemonistic model of health - Corinella foreshore caravan park - Angus young pickups seymour duncan - How did the carnegie’s purchase of allegheny steel contribute to the formation of his monopoly? - Impractical jokers ill conceived menu - Sociology david newman 9th edition pdf - This holy cross andrew chinn - Organizations invest heavily in information systems to improve customer service - Rayovac corporation case analysis - How to make a good tok presentation - Ca ehealth monitoring tool - Rc time constant experiment - The walt disney company reinforcing culture and values to employees - Bus 311 week 5 final paper - Acc 202 final project part i budget variance report submission - Spectroscopic analysis of a dye lab report - Liebst du um schönheit clara schumann sheet music - Keys to college success 8th edition free download - Size of golf ball in inches - Colour of chrome alum - Elements of the music - Hku main library opening hours - Jim and pam stance socks - Early intervention strategies digital brochure - Final Research Paper - Caroline bowen phonological processes - Which of the following is a nonvascular plant - The saddle club logo - Closed loop position control system experiment - Auto configuration server tr 069 - Myitlab word chapter 1 grader project - What could explain this distribution of mesosaurus fossils - Chalk and wire saint leo university - Bill gates leadership style examples