We will briefly consider these valuable business tools. To illustrate each of these business analysis tools, the following diagrams explain how they are applied and used: Strengths and weaknesses are internal and external to an organisation. A good example of external opportunities and constraints is that of the building industry in the UK today. The government is encouraging developers to build on 'brown field' sites as opposed to 'green field' sites. The constraint therefore is not being able to develop on green field sites while the opportunity is that of developing on brown field land.
But, just as important as these three are, the greatest problem for business is threats — competition; regulation, compliance, etc. The best way of thinking about constraints and opportunities is to realise that good businesses will seek to turn constraint into opportunities, while at the same time building on existing opportunities.
Organisations should use their strengths such as having a good reputation, and experience in a particular field or segment of the market coupled with good marketing and resources, to build competitive advantage. In addition it is also important to be aware of the actions of your competitors.
These important forces are continually in a state of flux and any business large or small, should at regular intervals carry out a SLEPT Analysis. Before creating business plans or making decisions, it is important to 'scan' the external environment; this tool, is similar to the SLEPT analysis, be has a much greater depth and focus; that is more useful to larger businesses. This can also be achieved through a PEST analysis, i. These forces are continually in a state of change in any business.
If you are going to write out a SWOT analysis, there are a few key things that you have to focus on. What that means is you want to get all the details you can on the company. You may want to start online and go to their website.
This can give you information on the company and it might let you know how they started. It will give you background information like the number of employees, their services and focus.
You may not always find this on their website, so researching online is a great way to get more details. Your next step will be to start your actual SWOT analysis so on your paper. You are going to put down a box with four equal boxes inside. Maybe they were in the news recently because they made a lot of money or they bought another company.
They may have even started working on a really big deal. Start looking up the weaknesses the company might have.
When you look at weaknesses, you want to look at all the problems that the company has had in the news. A great example would be Walmart which has been in the news a lot because of labor issues. These are all weaknesses. You next step is going to be about the opportunities. What you want to do ideally is to look at what the company mentions in their latest press release. A lot of the information in there is really a bunch of numbers, so you want to go to the summary of the report.
The easiest way to do this is to just do a search for that particular company and search for the summary in their annual report. This is a recap so you will find all the information there.
SWOT analysis Introduction In the business context, this strategy enables a business to discover its strong and weak points, thus enabling it to .
The SWOT analysis framework involves analysing the strengths (S) and weaknesses (W) of the business’s internal factors, and the opportunities (O) and threats (T) of its external factors of performance (Ghazinoory, Abdi and Azadegan-Mehr, ).
- SWOT Analysis What is SWOT Analysis. SWOT analysis is a basic, straightforward model that provides direction and serves as a basis . Personal Swot Analysis Essay example Words | 5 Pages Personal SWOT Analysis The career objective that I have in my life is to have started my own business or be a owner of business.
SWOT Analysis Essay Posted by admin as Example papers The Scamville Controversy on Virtual Goods: SWOT Analysis of the Businesses Involved, the Ethical Side, and Future Implications. Complete SWOT Analysis: SWOT analysis, the key tool in the strategic planning process, can also be applied to life planning. A SWOT analysis focuses on the internal and external environments, examining strengths and weaknesses in the internal environment and opportunities and threats in the external environment/5(24).