swot analysis Flashcards
SWOT means
strengths, weaknesses, opportunities, and threats
is a framework used to evaluate a company’s competitive position and to develop strategic planning.
SWOT analysis
It assesses internal and external factors, as well as current and future potential
SWOT Analysis
is a strategic planning technique that provides assessment tools
SWOT analysis
Identifying core strengths, weaknesses, opportunities, and threats leads to fact-based analysis, fresh perspectives, and new ideas.
SWOT Analysis
Source of SWOT analysis:
Kenton, 2021
• It describe what an organization excels at and what separates its from the competition.
Strengths
• Examples are a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on.
Strengths
• It must then decide how to use those results to attract new investors.
Strengths
are inherent features of your organization, so focus on your people, resources, systems, and procedures (Mindtools)
Weaknesses
stop an organization from performing at its optimum level.
Weaknesses
• They are areas where the business needs to improve to remain competitive: a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital (Kenton, 2021)
Weaknesses
refer to favorable external factors that could give an organization a competitive advantage (Kenton, 2021).
Opportunities
are openings or chances for something positive to happen, but you’ll need to claim them for yourself (________)!
Opportunities
(Mindtools)
• examples are underserved market for specific products, few competitors, emerging needs for the products or services and others.
Opportunities
Look for changes in government policy related to your field and changes in social patterns, population profiles, and lifestyles can all throw up interesting ________.
Opportunities
include anything that can negatively affect your business from the outside, such as supply-chain problems, shifts in market requirements, or a shortage of recruits (____________).
Threats
(Mindtools)
• Threats refer to factors that have the potential to harm an organization (________).
Threats
(Kenton, 2021)
• Always consider what your competitors are doing, and whether you should be changing your organization’s emphasis to meet the challenge.
Threats
- What is our competitive advantage?
- What resources do we have?
- What products are performing well?
Strengths
- Where can we improve?
- What products are underperforming?
- Where are we lacking resources?
Weaknesses
- What new regulations threaten operations?
- What do our competitors do well?
- What consumer trends threaten business?
Threats
- What technology can we use to improve operations?
- Can we expand our core operations?
- What new market segments can we explore?
Opportunities
