Strengths And Swot Analysis: SWOT Analysis Of A Business

The SWOT analysis is commonly known as a tool for business analysis. Its main use is for looking at strengths and weaknesses to do with the organisation, current or future opportunities and possible internal and external threats. These can then be dealt with to make them into a positive.

A SWOT analysis is a tool used to identify the strengths, weaknesses, opportunities and threats of an organization. A SWOT model measures what an organization can or cannot do as well as the possible opportunities and threats. This is done by taking data from the organization’s environment, analyzing the information and separating it into the internal (strengths and weaknesses) and external (opportunities and threats). When this is completed the analysis can create a plan for the organization to achieve its goals, and identify what difficulties must be overcome to attain

SWOT analysis provides a structure for analyzing either your own strengths and weaknesses, and the opportunities and threats you face, or in a work context for analyzing the strengths, weaknesses, opportunities and threats a business or event faces. Ideally it is one step in a process which helps you to

SWOT Analysis is a simple but useful framework for analyzing your organization's strengths and weaknesses, and the opportunities and threats that the company face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you will giving you the opportunity to ward off possible threats from external sources.

Swot analysis refers to the strength, weaknesses, opportunities and the threats that a business faces. Every company has its strengths, weaknesses, opportunities and threats that it faces.

A SWOT analysis is an evaluation a company’s strengths, weaknesses, opportunities, and threats (Armstrong, 2010, p.77). A SWOT analysis is a useful tool in comparing a business, or in this case a character’s, traits to the situation and to other characters.

The process of SWOT analysis is a universal method widely approached in corporations to scan the internal and external environment so that companies can deploy relevant countermeasures to make improvements. It contains four elements, they are strengths, weaknesses, opportunities, and threats (Helms & Nixon, 2010).

SWOT analysis is a popular analysis tool used in different situations that include not just business and marketing but also project planning and personal career development (Chapman 1995-2012). As for the strategic planning, Kenneth Andrews popularized his idea that good strategy means keeping a fit between the external situations a firm faces and the internal capabilities (Hill and Westbrook, 1997). The format the SWOT analysis presented is a 2x2 'internal/external' matrix, in which questions and relative answers can be listed for analysis (chapman 1995-2012). And according to Hill and Westbrook (1997), the output of SWOT analysis comes from meetings facilitated by consultants or managers to contribute the final analysis. Brainstorming can be used for filling in the sections to answer the questions. In addition, similar arguments should be concluded and ranked according to their answers in meetings (Rauch, 2007). As for the newly developed analysis, the TOWS matrix matching the various factors enables companies to stimulate new strategic initiative (Dyson, 2004).

The focus of the SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories; internal factors and external factors. The internal factors are the strengths and weaknesses that are internal to the company while the external factors are the opportunities and threats that presented by the external environment. The internal factors are determined by their impact on the company’s objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The external factors may include technological change, legislation, cultural changes, and changes in the marketplace or competitive position (Wood, 2008).

The SWOT analysis is business analysis method that business can use for each of its department when deciding on the most perfect way to increase their business and future growth. This procedure identifies the internal and external strengths, weaknesses, opportunities and threats that are in the markets.

SWOT analysis covers the strengths, weaknesses, opportunities & threats which a company is facing in its internal & external environment. Strengths & weaknesses fall under the internal environment of the company and opportunities & threats fall under the

SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.

SWOT stands for strengths, weaknesses, opportunities, and threats (Ferrell and Hartline, 2014, p. 39). A SWOT analysis evaluates both the internal factors (strengths and weaknesses) and external factors (opportunities and threats) that create advantages and disadvantages to a company when serving its customers (p. 39). A SWOT analysis is extremely beneficial in helping a company determine areas of improvement (p. 39). Internal factors examine the actual company being analyzed while external factors examine the external market (customers and competition) (p. 85).

SWOT analysis basically entails identifying and outlining the organization’s strong attributes that are helpful to achieving the objectives(strengths); weak attributes of the organization that are harmful to achieving its objectives (weaknesses); external opportune conditions that are helpful to achieving the organization’s objectives (Opportunities); external conditions that are harmful to achieving the organizations objectives(threats). Basically the organization identifies and strategizes on how to use each strength, stop each weakness, exploit each opportunity and defend itself against each threat in order to maximally achieve their objectives.

According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.