SWOT Analysis - strength, weakness, opportunity and threats

Strength weakness opportunity and threat analysis

1. SWOT Analysis By: Dhara Vaghasiya

2. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.

3. What is a SWOT Analysis? A SWOT Analysis is one of the most commonly used tools to assess the internal and external environments of a company and is part of a company’s strategic planning process. In addition, a SWOT analysis can be done for a product, place, industry, or person. A SWOT analysis helps with both strategic planning and decision-making, as it introduces opportunities to the company as a forward-looking bridge to generating strategic alternatives.

4. SWOT Analysis – Internal and External Factors Internal factors are the strengths and weaknesses of the company or person. Strengths are the characteristics that give the business or individual its competitive advantage, while weaknesses are characteristics that they need to overcome in order to improve its performance. External factors are the opportunities and threats to the company or person. Opportunities are elements that the company or individual sees in the external environment which they could pursue in the future to generate value. Threats are elements in the external environment that could prevent the company or individual from achieving its goal or its mission or creating value.

5. What is your strength analysis? To assess your strengths, think about the skills that you really have and that you can prove that you possess with specific examples and achievements. Then , pick the strengths that have helped you the most in your career so far or that can come in handy for the role you're applying for . For e.g., Ability to Multitask, Effectively Work In HIGHLY Pressurized Situations, Attention to Detail, Ability to COLLABORATE, Resourceful, Empathetic, Self Motivated , Take Initiative . A firm's strengths are its resources and capabilities that can be used for developing a competitive advantage, such as strong brand names, unique resources, patented products or services, good reputation, valuable assets, positive financials, access to resources, unique or innovative technologies, and so on.

6. How to identify weakness? A person's weakness is defined as a state in which they lack certain qualities. Some examples of weakness include being short-tempered, impatient, short-sighted, etc.  Weaknesses stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive. a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital.

7. What are opportunities? Opportunities in a SWOT analysis are external factors that could benefit the company or person . Personal opportunities are the things you want to achieve, or the things you'd like to change about yourself. Our personal opportunities for learning, growing and improving are endless. But sometimes we get stuck in our comfort zone and fail to recognize the opportunities that are right in front of us. Examples of opportunities for a SWOT analysis might include training, internships, or career moves. Opportunity examples for businesses include market growth, new technologies, or new investments.

8. What are Threats?  Threats in SWOT are areas with the potential to cause problems. Different from weaknesses, threats are external and ‌out of your control. This can include anything from a global pandemic to a change in the competitive landscape . Threats could include competition, economic downturns, personal obstacles, or anything else that might impede your success . Threats include anything that can negatively affect your business from the outside, such as supply-chain problems, shifts in market requirements, or a shortage of recruits.

9. SWOT Example

10. MCQ Questions: What does "S" in SWOT stand for? a) Strength b) Soft c) Strategy d) Standard   What does "W" in SWOT stand for? a) Weakness b) Wealth c) Work d) Wish  

11. MCQ What does "O" in SWOT stand for? a) Opportunity b) Option c) Offer d) Output What does "T" in SWOT stand for? a) Threat b) Task c) Test d) Target

12. MCQ SWOT analysis is used to help make what? a) Decisions b) Products c) Laws d) Buildings Strengths and weaknesses are related to what? a) Internal factors b) External factors c) Global factors d) Random factors

13. MCQ Opportunities and threats are related to what? a) External factors b) Internal factors c) Physical factors d) Emotional factors What is the first step in SWOT analysis? a) Identifying strengths b) Identifying opportunities c) Identifying threats d) Implementing strategies

14. MCQ How often should SWOT analysis be done? a) Regularly b) Never c) Once a year d) Only when in trouble

15. Thank You..!!