Swot Analysis for Hospitality Industry

1-WHAT IS SWOT ANALYSIS?

2-HISTORY OF SWOT ANALYSIS

3-APPLICATIONS OF SWOT ANALYSIS

4-AIM OF SWOT ANALYSIS

5-SWOT ANALYSIS OF HOSPITALITY INDUSTRY

6-SWOT ANALYSIS OF TAJ GROUP OF HOTELS

1. HOSPITALITY INDUSTRY SWOT ANALYSIS Submitted by Neeraj Singh Tanwar

2. WHAT IS SWOT ANALYSIS? Swot analysis is basically analysing a company’s : STRENGTH OPPORTUNITIES WEAKNESS THREATS

3. DEFINITION OF SWOT ANALYSIS A SWOT analysis is a planning tool used to understand the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business. It involves specifying the objective of the business or project and identifying the internal and external factors that are supportive or unfavourable to achieving that objective. SWOT is often used as part of a strategic planning process. SWOT or TOWS is an acronym for Strengths, Weaknesses, Opportunities, Threats.

4. SWOT ANALYSIS’ HISTORY ORIGIN IS CREDITED TO ALBERT HUMPHREY. DEVELOPED AT STANFORD. FUNDED BY FORTUNE 500 COMPANIES. TOOK 9 YEARS TO DEVELOP. INVOLVED 5000 INTERVIEWS.

5. SWOT IN DETAIL..... Strengths of hospitality industry Natural and cultural diversity. Demand-supply gap. Government support. Increase in the market.

6. Weaknesses of hospitality industry Poor support infrastructure Slow implementation Susceptible to political events

7. Opportunities of hospitality industry Rising income Open sky benefits Unique experience

8. Threats of hospitality industry Fluctuations in international tourist arrivals Increasing competition Unstable economy Terrorist activities Political turbulence

9. APPLICATIONS OF SWOT ANALYSIS A SWOT analysis can be used for: Workshop sessions Problem solving Planning Product evaluation Competitor evaluation Personal Development Planning

10. AIM OF SWOT ANALYSIS Reveal your competitive advantages Analyze your prospects for sales, profitability and product development Prepare your industry for problems Allow for the development of contingency plans

11. SWOT ANALYSIS OF TAJ HOTELS 11

12. 12