SWOT Analysis Module
Purpose of a SWOT Analysis
The SWOT analysis is part
of a company's strategic planning process where it connects its
objectives and strategies to actionable tactics carried out by
employees. Specifically, SWOT is part often of the situation analysis,
where the company determines where it stands on four key strategic areas
to better determine what changes to make.
Opportunities
Exploring untapped opportunities helps company leaders consider ways to grow. Generally, strong companies are always looking for ways to grow because if they do not grow, they typically fall behind and give up opportunities to competitors. Opportunities can include new and emerging markets, new business and product developments and strategic business partnerships that may create more sales and profits.
Threats
Strengths and Weaknesses
The purpose in using SWOT to assess strengths and weaknesses is it helps the company firmly understand its core market advantages and areas that competitors may criticize the company for. Companies typically make core strengths the focal point of marketing messages in trying to create differentiation from competitors. Companies need to understand their weaknesses to decide what areas they should improve on and what areas are inherent to the nature of their business.Opportunities
Exploring untapped opportunities helps company leaders consider ways to grow. Generally, strong companies are always looking for ways to grow because if they do not grow, they typically fall behind and give up opportunities to competitors. Opportunities can include new and emerging markets, new business and product developments and strategic business partnerships that may create more sales and profits.
Threats
Though it is one of the least enjoyable areas of SWOT to consider, companies need to understand external threats so they are not caught off guard. Changes in government regulations may affect the level of competition or costs companies face. Environmental standards or conditional changes can affect companies in the ways in which they use natural resources for business. Technological advances or changes can affect companies that do not adapt.
In this session esile I understood What is strength, My weakness, and Opportunities, Threats we want to get success in my life first we should find out these points and work on that your weakness you have to prepare your self weakness will make it change strength & Threats will change make to Opportunities
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