3. Meaning of Swot
SWOT analysis (or SWOT matrix) is
a strategic planning technique used to help
a person or organization identify strengths,
weaknesses, opportunities, and threats
related to business competition or project
SWOT analysis is a quick way of examining
your organisation by looking at the internal
strengths and weaknesses in relation to the
external opportunities and threats.
4. Meaning of Swot
A SWOT analysis helps you to
understand the current state,
determine where to go next and inform
the strategic actions that can be taken
to achieve your organisations desired
5. History of Swot
The origin of SWOT analysis is credited by Albert Humphrey. Who led a
research project at stand Ford University in the 1960s and 1970s using data
from many top companies?
Goal of SWOT was to identify why corporate planning failed. Humphrey and
the team used the categories like
What is good in the present is satisfactory (strengths).
What is good in the Future is an opportunity
What is bad in the present is an fault or failure (weakness)
What is bad in the future is threat.
Hence, they came up with SWOT.
6. overview of Swot
It describes what an organization excels at and
what separates it from the competition: a
strong brand, loyal customer base, a strong
balance sheet, unique technology, and so on.
Weaknesses stop an organization from performing
at its optimum level. 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.
7. overview of Swot
It refers to favorable external factors that could give an
organization a competitive advantage. For example, if a
country cuts tariffs, a car manufacturer can export its
cars into a new market, increasing sales and market
share, technology advancements, expansion of
product line, Govt supportive policies, etc.
It refers to factors that have the potential to harm an
organization. For example, a drought is a threat to a
wheat-producing company, as it may destroy or reduce
the crop yield. Other common threats include things like
rising costs for materials, increasing competition,
tight labor supply and so on.
A realistic recognition of the weaknesses and
threats that exist for your effort is the first step to
countering them with a robust and creative set of
strengths and opportunities. A SWOT analysis
identifies your strengths, weaknesses,
opportunities and threats to assist you in making
strategic plans and decisions.
SWOT is a simple yet comprehensive way of
assessing the positive and negative forces within
and without your organization, so you can be
better prepared to act effectively. The more
stakeholders you involve in preparing the SWOT,
the more valuable your analysis will be.