environment and market week 1 first lesson in cookery 1/8

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ANALYZING SWOT
TLE_EM7/8-00-1
Prepared by Dolly Paraguas

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Hello!
Welcome to
our new
lesson

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Here is our objective for today’s lesson
We will Discuss SWOT analysis
We will Generate a business idea that relates with a career choice in cookery.

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SWOT
SWOT Analysis is an acronym for Strengths, Weaknesses, Opportunities,
and Threats. The SWOT Analysis began its life in the ‘70s as a
planning tool for analyzing a professional project or business
venture. Unchanged in its format, it’s still used today to help
businesses focus their thoughts, analyze their progress, and
strategically shape their decision-making. SWOT can also be
used in personal context, you as an individual can develop your
career and personality by identifying your strengths,
weaknesses, opportunities and threats. Reviewing your identity,
abilities, personality and applying it to a SWOT framework will
allow you to better yourself and advance in your chosen career.
This step will help you improve your business of choice and
prepare for challenges. The table below will help you
differentiate among these four features

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Internal
Strengths
- Positive and controllable factors that contribute to the business’ success.
- An internal resource or capability which is needed to achieve the desired
goals.
Examples:
● Cheap raw materials
● Skilled employees
● Ease of management
● Small capital outlay
● Experience workforce
● Business is located in an area with many people living.

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INTERNAL
● Lack of working capital
● Poor location
● Inexperience owner
● Establishment is old
and looks out dated.
Areas where you or your organization may be
weaker than others.
- An internal barrier to achieve the desired goals.
- Set of problems, difficulties or shortcomings
encountered by the business.
-Limited space inside the establishment, thereby
limiting the number of customers it can
accommodate.
Weaknesses example

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EXTERNAL
● ● Absence of similar products
● in the market.
● ● New markets being
● developed.
● ● There is strong support
● from the local government
● for small and medium
● businesses to expand.
- Positive factors that are not
within the control of the business.
- Possibilities that you can take
advantage of to help you achieve
your goals and ambitions
- An external situation that could
provide a competitive advantage.
Opportunities example

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EXTERNAL
● Absence of similar products in the market.
● New markets being developed.
● There is strong support from the local
government for small and medium
businesses to expand.
● New technologies are available and are
used by competitors.
- Negative factors that are beyond
the control of the business.
- An external situation which could
damage your space for attaining
objectives.
- Things that may prevent you or
your organization from making a
profit or achieving your goals.
Threats example

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Thank you!
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