Swot Analysis

The strengths and weaknesses of a SWOT analysis focus on the current market position of a business in relation to its:

  • Customers – is the business meeting the needs of its target markets
  • Competitors- is the business offering a better way of meeting customer needs compared with its competitors
  • Internal resources- is the business making effective use of its internal resources to meet customer needs and deal with competition

The opportunities and threats of a SWOT analysis focus on the future market position of a business.

  • Use the strengths and limit the weaknesses to help plan for future development, marketing strategies and activities.
  • Opportunities and threats should grow out of an objective consideration of the real strengths and weaknesses of the business.
  • Specific information must be collated before the process begins and personnel need to adopt a truly objective position if the process is to be successful and worthwhile.

The main purpose of a SWOT analysis:

  • Identify market opportunities
  • To avoid complacency about market position – a self evaluating organization
  • As a safety check before embarking on major new project
  • As a response to change – change of director might initiate a SWOT analysis to gauge the strength of the team.
  • There is no set procedure for carrying out a SWOT analysis but care must be taken to identify weaknesses if the process is to serve its purpose.

A weakness may purely be lack of information, or lack of suitably qualified staff.

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Swot Analysis. (2018, Feb 02). Retrieved from https://graduateway.com/swot-analysis-of-ms/