Skip to main content

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.


Comments

Post a Comment

Popular posts from this blog

FACTORS AFFECTING PRICING DECISION

            Factors Affecting Pricing Decision         Pricing decision is an important task for the management of a company. An individual company is not free in the determination of prices for its products. It is bound to take into consideration many other factors. For a judicious pricing decision a marketing company should take into account the following factors: (1) Cost of the Product: No marketing company can afford the luxury of ignoring the cost of product. Cost of the product includes variable cost e.g. cost of raw material, labour charges, power expenses etc. and fixed cost. Cost of product is the major guiding factor in pricing decision. (2) Life-Cycle of the Product: In the introduction stage price of the product may be kept lower to generate demand. In growth stage prices may be increased and in maturity and saturation stages again the prices may be reduced to revive demand. (3) Product Sub...
Post a Comment
Read more

International Sales Management

Int ernational Sales Management Sales management is the process of developing a sales force, coordinating sales operations, and implementing sales techniques that allow a business to consistently hit, and even surpass, its sales targets. If your business brings in any revenue at all, a sales management strategy is an absolute must. When it comes to boosting sales performance for any size of the operation, no matter the industry, the secret to success is always precise sales management processes. Besides helping your company reach its sales objectives, the sales management process allows you to stay in tune with your industry as it grows and can be the difference between surviving and flourishing in an increasingly competitive marketplace. The past decade has seen a number of changes in global situations. Chief among these is the opening up of Russia, India, and Eastern European countries and the emergence of China as a major market. A sale is an important element of marketing. ...
Post a Comment
Read more

EARN MONEY ON GROWW APP

  Earn your ₹1000 reward straight to your Groww Balance by activating your account using this link here:  https://groww.app.link/refe/sonu11439773
Post a Comment
Read more