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SWOT Analysis

Coverage in session

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In this session , we will study about SWOT Analysis

What is SWOT analysis

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A technique that enables a group/individual to move from everyday problems and traditional strategies to a fresh prospective. Encompasses both internal and external environments One of the most effective tools in the analysis of environmental data and information

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S- Strength W-Weakness O- Opportunity

Internal Environment

External Environment

T- Threat
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Strength

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An existing potential resources/capabilities that provides competitive advantage to company. Example - Strong distribution network Intent staff commitment and loyality Increasing profit Marging
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Weakness

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An increasing or potential force which could serve as a barrier to maintaining or achieving a competitve advantage in a market. e.g.- Lack of clear company strategy Lack of clear training for new software

Opportunities

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An existing or potential force in the external environment that, if properly leveraged could provide a competitive advantage. Organizations geographic location New Technology

Threat

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An existing o potential force on the external environment , that could erode a competitive environment,. E.g- A new competitor entrance A recession/rising interest/ inflation

Aim of SWOT analysis

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Take advantage of strength and opportunities Minimize weakness and eliminate threats.

Who needs SWOT

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A Company Revenue/cost/expenses not achieved Industry conditions are unfavorable Want to launch new business A Business When team does not meet target A new business unit to pursue to new business A new team leader is appointed
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Who needs SWOT

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Job Holder When supervisor has issues with work Assignment to new job New Financial year- New Targets Seek to improve performance on job

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How to do SWOT
Analyze External/ Int. Env.
Perform SWOT analysis and Document

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Take action plan

A SWOT analysis is useful only when action plans are prepared from the results.

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For a productive SWOT analysis

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Stay focused. Be specific and avoid grey areas. Keep your SWOT short and simple. Avoid complexity and over analysis Collaborate with other functional areas Examine issues from the customers/ stakeholders perspective Look for causes, not characteristics Separate internal issues from external issues
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Benefits of SWOT

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Solving Problems Implementing change Development of strategies for achieving organization's vision and mission.

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