Lecture 1 ENVIRONMENT AND MARKET SWOT Analysis.pptx

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1. ENVIRONMENT AND MARKET: SWOT Analysis

2. Needs the important things that an individual cannot live without in a society.

3. These includes the following 1. Basic commodities for consumption, 2. Clothing and other personal belongings, 3. Shelter, sanitation and health, and 4. Education

4. Basic Needs -are essential to an individual to live with dignity and pride in a community.

5. Wants -are desires, luxury and extravagance that signify wealth and expensive way of living. Wants or desires are considered above all the basic necessities of life. Examples: -fashion, accessories, expensive shoes/clothes, travels, eating in an expensive restaurant, watching movies, concerts, having luxurious cars, and others.

6. Strengths and weakness refer to internal factors such as (current processes, human resources, physical and financial resources) while Opportunities and Threats focus on External factors such as (Market trends, economic trends, economic regulations?

7. Four Elements of SWOT Analysis:

8. 1. Strength- These factors that distinguish an organization from its competitors. These are special positive traits, such as a strong band image, a loyal customer base, or a unique technology that provides a clear advantage to the organization. 2. Weakness-Identifying these can help identify areas of improvement Doing this lets organization design measures to rectify and control their weak points, which in turn helps the business/company to grow. Eg. (low brand value, lack of capital, lack of human support)

9. 3. Opportunities-These are external factors that re open and available to be used by the organization for its benefit Organizations must have a good eye to identify and analyze prevailing opportunities in the market. (e.g tactics) 4. Threats-Like opportunities, these are external or outside factors that negatively impact business. (Eg. Financial downturns, supply chain problems, stringent government regulations or shifts in market requirement.