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Analysis and reflection on swot analysis
Comprehensive essay on swot analysis
Analysis and reflection on swot analysis
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MODELS OF DECISION MAKING:
SWOT Analysis Model
Poster’s Five Forces Analysis
PEST Analysis
SWOT Analysis
SWOT Analysis is the most common and renowned model for decision making in the business world today. It is used for conducting the audit, study and analyze the overall strategic position of the business and the environment in which the business operates SWOT is an abbreviation of Strengths, Weaknesses, Opportunities and Threats. The main objective of SWOT analysis is to devise the best strategy for the organization, using it to prepare the business model for the company while keeping in view the resources, capabilities and constraints that are applicable. It is in fact used to assess the internal potential of the organization and how it can be utilized to exploit the avenues available in the environment. It takes into consideration all the favorable and unfavorable factors associated with the organization. This tool when used consistently can help in the predicting the future outcome and including those forecasts in the organization’s strategy.
Conducting SWOT analysis is not a complex task but includes a very simple and interesting activity. It also includes brainstorming sessions. SWOT analysis may be used to develop the business idea, assessing an opportunity to make an acquisition, analyzing a potential partnership or making decision about a brand, product, an investment opportunity. SWOT analysis is conducted using a template which is usually in the form of a grid and consists of four sections.
An example of the template is produced below:
STRENGTHS
Financial Resources
Human Resource
Market Access
Brands
Patents
Copy Rights
Technology
Infrastructure
Quality
Cost minimization
Effective management
Geographical edge
Expertise and Experience
Backward and Forward Integration
Other assets WEAKNESS
Cash shortage or lack of access to financial resources
Lack of access to market
Incompetent human resource and management
Lack of infrastructure
Non availability of technology
Lack of competitive strengths
Ineffective supply chain management
Narrow Product Range
Poor Decision Making
Huge Debts
High employee turnover
Obsolete equipment
Complex decision making process
Large wastage of raw material
OPPORTUNITIES
New market
New Government policy or change in recent policy
Lifestyle or industry
Niche market
Increase in level of income of individuals
New Products and services
THREATS
Political factors
Legislative issues
Environmental factors
High turnover of staff
Takeover by a big giant
New technology by competitor
Disagreement with key contractors and customers
Seasonal impacts
Change in attitude, tastes or lifestyle
International market impacts on local market
Change in the market demand
Ever changing technology
Price war leading to decrease in profitability
Increased competition leading to access capacity
Lets have a view on each of the four factors:
Strengths:
Strengths are the competitive edge or the capabilities an organization has to be utilized when competing with its competitors.
The SWOT analysis is a method used to evaluate the attributes (of a particular company) that will support the firm's effort in achieving their goals as well as the attributes that will weaken the company.
A SWOT analysis is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT is a planning evaluation used by businesses and organizations.
As a business in a competitive market we must be able to determine what may assist us to accomplish our objectives? What obstacles we must overcome or minimise to achieve our desired results? To achieve this we must carry out a strategic plan, which is a straightforward model known as a SWOT analysis (strengths, weakness, opportunities and threats). This will help us to establish our overall strategic position, based on internal issues (strengths and weakness) and external issues (opportunities and threats).
The objective of this paper is to analyze and discuss some of the Boeing Company's business decisions using their strengths, weaknesses, opportunities and threats, also known as an S.W.O.T. analysis which is defined as, "a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats. (Nickels, McHugh, McHugh, page 216)". This is a very powerful tool usable by any business that is just starting out, going through a change in direction, or in the process of a major merger. The SWOT analysis consists of a few simple steps which can provide valuable insight for direction and decision making. This paper will use The Boeing Company as an example of SWOT analysis application.
The SWOT analysis involves four steps. They are strength, weakness, opportunity, and threats. This will assist you to ident...
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
The SWOT analysis (abbreviation for Strengths, Weaknesses, Opportunities and Threats) is an essential tool in marketing for understanding and supporting decision-making in all kinds of situations in business and organisations. In brief, it provides an accurate context for studying strategies, positions and directions of a company proposition. It is used mainly for business planning, competitor evaluation, marketing, business and product development and research reports. SWOT analysis is also a widely recognised method for gathering, structuring, presenting and reviewing extensive planning data within a larger business or project planning process. (Chapman, 2014)
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
The starting point of the strategic management is said to be the DESIGN SCHOOL with an emphasis on process. However this system is entirely based on the SWOT analysis. Swot stands for strength, weakness, Opportunities and Threats. Strength is a show...
A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
These decisions were made using a SWOT analysis. The managers were able to identify strengths, weaknesses, opportunities, and threats to the company and adjust their strategy to optimize the situation.
This paper explores the legal, ethical and moral issues of three healthcare colleagues by applying the D-E-C-I-D-E model as a foundation of decision making as found in Thompson, Melia, and Boyd (2006). Issues explored will be those of the actions of registered nurse (RN) John, his fiancé and also registered nurse (RN) Jane and the Director of Nursing (DON) Ms Day. Specific areas for discussion include the five moral frameworks, autonomy, beneficence, Non – maleficence, justice and veracity in relation with each person involved as supported by Arnold and Boggs (2013) and McPherson (2011). An identification and review of the breached code of ethics and the breached code of conduct in reference with the Nursing, Council, and Federation (2008) will be addressed. Lastly a brief discussion on how the three schools of thought deontology, teleology and virtue had effects on each colleague (McPherson, 2011) .
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.