Swot analysis

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1. SWOT ANALYSIS BY – VAISHNAVI SINGH BSc FIRST YEAR

2. SWOT Analysis ……. What is SWOT Analysis ? Need of SWOT Analysis ? Where is SWOT used ? Uses & Importance

3. What is SWOT Analysis ? STRENGTHS Characteristics of the business or a team that give it an advantage over others in the industry , Positive tangible and intangible attributes, internal to an organization . Beneficial aspects of the organization or the capabilities of an organization, which includes human competencies, process capabilities, financial resources, products and services, customer goodwill and brand loyalty .

4. OPPORTUNITIES Chances to make greater profits in the environment - External attractive factors that represent the reason for an organization to exist & develop , Arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable . Organization should be careful and recognize the opportunities and grasp them whenever they arise. Opportunities may arise from market, competition, industry/government and technology.

5. WEAKNESSES Characteristics that place the firm at a disadvantage relative to others , Detract the organization from its ability to attain the core goal and influence its growth . Weaknesses are the factors which do not meet the standards we feel they should meet. However, weaknesses are controllable. They must be minimized and eliminated.

6. THREATS ! External elements in the environment that could cause trouble for the business - External factors, beyond an organization’s control, which could place the organization’s mission or operation at risk , Arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business . Compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, the stability and survival can be at stake.

7. 2 . Need of SWOT Analysis ? A SWOT analysis helps you make smart , informed business decisions . Understanding your company's position within your market or industry and knowing how and where you can grow is critical for any business owner. This knowledge allows you to strategically develop your company rather than wasting your efforts trying to expand into a market that doesn't align with your business or being steamrolled by a surprise competitor . "[A SWOT analysis] gives you a firm grasp of what is affecting your business internally and externally," said Lynne Pratt, creative content director at Virtual Solutions Global. "By carefully evaluating the analysis, a business can find new ways of progressing and achieving growth."

8. 3 . Where is SWOT used ? SWOT analysis is one very effective tool for the analysis of environmental data and information – for both, internal (strengths, weakness) and external (opportunities, threats) factors. It helps to minimize the effect of weaknesses in your business, while maximizing your strengths. SWOT analysis can help you gain insights into the past and think of possible solutions to existing or potential problems — either for an existing business or new venture. • strategic planning, • outsourcing a service, activity or resource, • an investment opportunity, • a method of sales distribution, • competitor evaluation, • marketing, • an investment opportunity • product development, • research reports, • etc. This are some examples where SWOT used . ! s w o t

9. Uses & Importance A SWOT analysis used to identify areas of your business that are performing well . These areas are your critical success factors and they give your business its competitive advantage. Identifying these strengths can help you make sure you maintain them so you don't lose your competitive advantage . SWOT  is an important acronym for individuals and organizations alike in the business world and it stands for Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is a useful technique to assess these four attributes which play a crucial role in an organization. Strengths  and  weakness  refer to  internal factors  such as (current processes, human resources, physical and financial resources etc.) while  opportunities  and  threats  focus on  external factors  such as (market trends, economic trends, pollical and economic regulations etc.).

10. The Importance of SWOT Analysis Here are some key points that make it especially useful for companies:

11. 1. A SWOT analysis helps organizations get visibility on their current status , letting them understand and measure overall business performance . 2. It lets a business analyze their strength, which in turn can help them better penetrate the market to meet business targets . 3. It lets organizations get visibility on their weaknesses and potential areas of improvement. This information helps them plan for and mitigate future roadblocks, ensuring long term growth of business . 4. By leveraging its SWOT analysis, a business can create a strategic plan to meet desired objectives and adapt to changing market conditions . 5. It lets businesses understand and better identify internal and external factors and their positive and negative impacts on the business. This information can help businesses be more proactive by helping them take appropriate actions in a dynamic market to maintain momentum.

12. Strengths–Opportunities. Use your internal strengths to take advantage of opportunities . Strengths-Threats. Use your strengths to minimize threats . Weaknesses-Opportunities. Improve weaknesses by taking advantage of opportunities . Weaknesses-Threats. Conclusion

13. Bibliography https ://www.google.com/search?q=swat+analyis&oq=swat+analyis&aqs=chrome..69i57.11823j0j7&sourceid= chrome&ie =UTF-8 https://www.business.com/articles/swot-analysis-for-small-business-planning/ http://www.businessplantool.org/Dokumenti/SWOT%20analysis.pdf file:///C:/Users/Admin/Downloads/swot_analysis.htm