MANECON - SWOT Analysis

SWOT Analysis

is a planning process that helps your company overcome challenges and determine which new leads to pursue.

SWOT Analysis

strategic planning technique that provides assessment tools.

SWOT Analysis

Identifying core strengths, weaknesses, opportunities, and threats leads to fact-based analysis, fresh perspectives, and new ideas.

SWOT Analysis

pulls information from internal sources (strengths or weaknesses of the specific company) and external forces that may have uncontrollable impacts on decisions (opportunities and threats)

Strengths

describe what an organization excels at and what separates it from the competition

Strong Brand Reputation, Low Employee Turnover, High Customer Retention

Strengths Indicators

Strong Brand Reputation

A strong and well-recognized brand associated with quality and trust.

Low Employee Turnover

Companies where few to none employees resign typically have a good workplace environment and a positive relationship with their employees.

High Customer Retention

Transactions to existing customers are very high

Weakness

stop an organization from performing at its optimum level

Falling profitability, Negative Customer Feedback, Lack of Expertise

Weakness Indicators

Falling Profitability

Profit fluctuates from time to time

Negative Customer Feedback

Collective negative feedback in any parts and aspects determine that there is a problem

Lack of Expertise

People are assigned to departments they are not so familiar with

Opportunities

refer to favorable external factors that could give an organization a competitive advantage

Technological Advancements, Partnerships and Collaborations, Product Diversification

Opportunities Indicators

Technological Advancements

New or emerging technology that a company can adopt for

Partnerships and Collaborations

Creating/working a project together with other organization or company

Product Diversification

Introducing a new product to meet the demand in the market

Threats

factors that have the potential to harm an organization

Competitor's Growth, New Laws and Policies, False Reports/Trial by Publicity

Threats Indicators

Competitor's Growth

expansion and progress of a company's rivals in general

New Laws and Policies

Laws and policies that is mandated to companies to follow, regardless of its effects to the organization

False Reports/Trial by Publicity

Dissemination of false information brings wrong interpretation to the organization or individual

Determine Your Objective

1st Step in Performing SWOT Analysis

Gather Resources

2nd Step in Performing SWOT Analysis

Compile Ideas

3rd Step in Performing SWOT Analysis

Refine Ideas

4th Step in Performing SWOT Analysis

Develop the Strategy

5th Step in Performing SWOT Analysis

Dishonesty and Overemphasizing, Analysis in Isolation, Wrong Factors

Mistakes in Performing SWOT Analysis

makes complex problems more manageable, requires external considerations, can be applied to almost every business question, leverages different data sources, may not be overly costly to prepare

Importance