Session 1 - SWOT Analysis Flashcards
What is SWOT analysis?
It is an analytical framework which identifies internal and external factors that affect the organization which either helps to a business to achieve the objectives or become obstacles.
Should companies use SWOT as detailed plan? IF no then why not?
No. Because it is highly subjective. It should be used only as a guideline and not a prescription.
What is a strength?
Something that the organization excels at which gives a boost compared to competitors.
What is a weakness?
Something that prevents the organization from functioning to its maximum potential.
What is a Opportunity?
External factors which helps the organization to give COMPETITIVE advantage.
What is a threat?
External Factors which can HARM the business. Like a drought to a wheat producing company.
How can we strategize SWOT?
It can be used as an overall business strategy but, further as a segment wise analysis for sales or marketing or production. You can also reverse it by using SWOT for segments which FEEDS into the OVERALL STRATEGY.
