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SWOT Analysis

 Swot Analysis

Definition: SWOT stands for 'Strengths, Weaknesses, Opportunities and Threats'. This is a method of analysis of the environment and the company's standing in it.

1. Strengths- Strengths are the qualities that enable us to accomplish the organization’s mission. These are the basis on which continued success can be made and continued/sustained.

Strengths can be either tangible or intangible. These are what you are well-versed in or what you have expertise in, the traits and qualities your employees possess (individually and as a team) and the distinct features that give your organization its consistency.

2. Weaknesses - Weaknesses are the qualities that prevent us from accomplishing our mission and achieving our full potential. These weaknesses deteriorate influences on organizational success and growth. Weaknesses are the factors that do not meet the standards we feel they should meet.

3. Opportunities - Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. Organizations can gain a competitive advantage by making use of opportunities.

4. Threats - Threats arise when conditions in the external environment jeopardize the reliability and profitability of the organization’s business. They compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, stability and survival can be at stake. Examples of threats are - unrest among employees; ever-changing technology; increasing competition leading to excess capacity, price wars and reducing industry profits; etc.


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