Scribd
Upload
119 views3 pages

Assignment 2 Week 2

This document provides an overview of SWOT analysis including: 1) SWOT analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or business venture. 2) The SWOT analysis procedure involves identifying internal strengths and weaknesses and external opportunities and threats. An action plan is then developed based on the SWOT analysis. 3) A SWOT analysis can help businesses determine how to benefit from trends, incorporate new technologies, and adapt to competition while also addressing weaknesses and threats. However, it does not consider external factors like inflation or changes in law.

Uploaded by

Asif Raza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
119 views3 pages

Assignment 2 Week 2

This document provides an overview of SWOT analysis including: 1) SWOT analysis is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or business venture. 2) The SWOT analysis procedure involves identifying internal strengths and weaknesses and external opportunities and threats. An action plan is then developed based on the SWOT analysis. 3) A SWOT analysis can help businesses determine how to benefit from trends, incorporate new technologies, and adapt to competition while also addressing weaknesses and threats. However, it does not consider external factors like inflation or changes in law.

Uploaded by

Asif Raza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1

SWOT Analysis

Husain Abul

BA (Hons) Business Studies (BABS), University of Hartford

COURSE MGT310: Management and Org. Behavior

Dr. Candace Ruiz

Month 05, 2021


2

SWOT Analysis

SWOT analysis is a methodology often used in strategic planning established at Stanford in the

1970s. SWOT, a structured planning strategy for assessing these four characteristics of a

company, a project or an enterprise, is a synonym for strengths, weaknesses, opportunities and

threatening. A SWOT analysis is a basic yet potent framework to use the strengths of the

business, improve weaknesses, reduce threats and maximize opportunities [ CITATION Eme17 \l

1033 ].

SWOT analysis is a procedure in which the management team analyzes internal and external

elements that influence future performance of the firm. It helps us to understand what happens

internally and outside so that you have the most efficient way to plan and run your business

[ CITATION Rob04 \l 1033 ]. In the following phases, the SWOT analysis procedure can be done:

 List now all the forces. Then, in turn, identify all existing flaws.

 List all the future opportunities. Potential future strengths are opportunities. Then, on the

other hand, identify all prospective dangers. Potential future deficiencies are threats.

 Action Plan - Revisit the SWOT matrix for each of the four categories with a view to

drafting an Action Plan.

A SWOT analysis is an effective brainstorming and strategic planning instrument. If you do it

with a particular goal in mind, you might receive greater value from a SWOT analysis. For

example, a SWOT analysis may be used to determine whether and how a new business

opportunity should benefit from, adapt to trends, incorporate new technologies and cope with

changes in operations within your competition [ CITATION GHo99 \l 1033 ].

SWOT analysis does not take into consideration the lack of managerial control of specific

aspects of the company. These components may include levels of inflation, changes in
3

commodity prices, changes in the law of government, and insufficient trained labor. In addition,

SWOT's disadvantage is that all problems are addressed in the same way. SWOT analysis does

not consider the complexity or profundity of situations and may not be suited for all sorts of

problems to be analyzed [ CITATION Qiu12 \l 1033 ].

Works Cited
[Link], R. (2004). Strategic development and SWOT analysis at the University of Warwick. European
Journal of Operational Research, 631-640.

GÜREL, E., & TAT, M. (2017). SWOT ANALYSIS: A THEORETICAL REVIEW. The Journal of International
Social Research, 994-1006.

Houben, G., Lenie, K., & Vanhoof, K. (1999). A knowledge-based SWOT-analysis system as an instrument
for strategic planning in small and medium sized enterprises. Decision Support Systems, 125-
135.

Zhang, Q. (2012). Research on Tourist Attractions Performance Promoting Method Based on the SWOT
Analysis Method. IERI Procedia, 254-260.

You might also like