i want to know swot analysis?
swot-strenths, weeknesses, opportunities and threats
- 1 decade agoBest Answer
SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.
In SWOT, strengths and weaknesses are internal factors. For example:A strength could be:
* your specialist marketing expertise.
* a new, innovative product or service
* location of your business
* quality processes and procedures
* any other aspect of your business that adds value to your product or service.
A weakness could be:
* lack of marketing expertise
* undifferentiated products or services (i.e. in relation to your competitors)
* location of your business
* poor quality goods or services
* damaged reputation
In SWOT, opportunities and threats are external factors. For example: An opportunity could be:
* a developing market such as the Internet.
* mergers, joint ventures or strategic alliances
* moving into new market segments that offer improved profits
* a new international market
* a market vacated by an ineffective competitor
A threat could be:
* a new competitor in your home market
* price wars with competitors
* a competitor has a new, innovative product or service
* competitors have superior access to channels of distribution
* taxation is introduced on your product or service
A word of caution, SWOT analysis can be very subjective. Do not rely on SWOT too much. Two people rarely come-up with the same final version of SWOT. TOWS analysis is extremely similar. It simply looks at the negative factors first in order to turn them into positive factors. So use SWOT as guide and not a prescription.Simple rules for successful SWOT analysis
* be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis.
* SWOT analysis should distinguish between where your organization is today, and where it could be in the future
* SWOT should always be specific. Avoid grey areas.
* always apply SWOT in relation to your competition i.e. better than or worse than your competition
* keep your SWOT short and simple. Avoid complexity and over analysis
* SWOT is subjective.
Once key issues have been identified with your SWOT analysis, they feed into marketing objectives. SWOT can be used in conjunction with other tools for audit and analysis, such as PEST analysis and Porter's Five-Forces analysis. So SWOT is a very popular tool with marketing students because it is quick and easy to learn. During the SWOT exercise, list factors in the relevant boxes. It's that simple. Here's some examples of SWOT analysis
Example 1 - Wal-Mart SWOT Analysis.Strengths - Wal-Mart is a powerful retail brand. It has a reputation for value for money, convenience and a wide range of products all in one store.Weaknesses - Wal-Mart is the World's largest grocery retailer and control of its empire, despite its IT advantages, could leave it weak in some areas due to the huge span of control.Opportunities - To take over, merge with, or form strategic alliances with other global retailers, focusing on specific markets such as Europe or the Greater China Region. Threats - Being number one means that you are the target of competition, locally and globally.
Example 2 - Starbucks SWOT Analysis.Strengths - Starbucks Corporation is a very profitable organisation, earning in excess of $600 million in 2004.Weaknesses - Starbucks has a reputation for new product development and creativity. Opportunities - New products and services that can be retailed in their cafes, such as Fair Trade products. Threats - Starbucks are exposed to rises in the cost of coffee and dairy products.
Example 3 - Nike SWOT Analysis.Strengths - Nike is a very competitive organisation. Phil Knight (Founder and CEO) is often quoted as saying that 'Business is war without bullets.'Weaknesses - The organisation does have a diversified range of sports products. Opportunities - Product development offers Nike many opportunities. Threats - Nike is exposed to the international nature of trade.Source(s): Phew!!! all those years in business schools... paid off... ayte.. now print em.. and read em.... and gimme ma points.. LOL.... J/K http://tinyurl.com/rt5ln Hope that helps.
- MarissaLv 44 years ago
From your question, I gather you are doing a SWOT analysis for a new market for the company to operate in, so the answer is NO! You should do a SWOT analysis for any new business - and just because a company is new does not stop it having strengths and weaknesses! You are trying to work out which market the company should enter. Obviously, some of these will be country related - what sort of market is it? Is bribery a common problem? Is the country stable? Is the currency stable? Will there be a language barrier? You will also look at the new market - how much competition is there? What will the demand for the company's products be? What is transportation like? What are labour demands like? Are you manufacturing or exporting? What tax duties will need to be paid? What are properties like? Basically, you are doing 7 'Newco' SWOT analyses - one for each country. Some of them will be country-related, but not all of them! Please realise a strength can also be a weakness, a strength can be an opportunity and so on. Good luck with your project - and do not hesitate to contact me if you want any more help!
- Ivanhoe FatsLv 61 decade ago
you have answered it yourself
make a list of your strengths and weaknesses
then make a list of all opportunities you can see
then make a list of all threats you can predict that will harm you in some way
- 1 decade ago
Quick and dirty SWOT: http://www.marketingteacher.com/Lessons/lesson_swo...