Premium Essay

All Details to Do a Swot

In: Business and Management

Submitted By maduten
Words 2275
Pages 10
Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is a business management tool used to evaluate an organization’s strength’s, weaknesses, opportunities, and threats. The tool is used to produce a model that can serve to provide direction in the development, formulation, and evaluation of project management plans. Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is an important step in the planing process that is often undervalued and omitted in constructing the project management plan. This basic management tool is straightforward and easy to use. Basically, factors are divided into internal and external issues. Based on the analysis of the information provided by the model, project management can better decide if the information gathered is something that will assist in accomplishing its objectives. Conversely, Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis can also identify potential obstacles to success, as well as faults in the plan that must be addressed, controlled, or eliminated if the desired results are to be achieved.
In order for the Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis to be effective, project management must do more than simply identify the strengths, weaknesses, opportunities, and threats involved. Risk management demands that it is necessary to avoid, eliminate, or at the very least, minimize identified weaknesses and threats. Weaknesses should be closely scrutinized in order to determine whether or not it is possible to convert them into assets. Similarly, threats should be closely examined for the opportunity of building strength in areas where they stood, once they have been eliminated. Strengths and opportunities should be closely studies as well in order to maximize their effectiveness. Project management would be well advised to take advantage of this simple, cost

Similar Documents

Premium Essay

The Mission Statement

...technology. A mission statement also represent the business philosophy of strategic decisions to the firms self concept, primary customer needs of satisfaction, which in all reflect the values and priorities of the company’s performance over a life time. This is a detailed overview of how to construct a well developed mission statement using an example of Facebook a live networking websites. (Strategic Management, 12th Edition, pg 21) Face book’s mission is “to give people the power to share and make the world more open and connected.” (Facebook) As mentioned above, a mission statement is an overview of the company. A well written mission statement will provide in details its company’s unique purpose, functions and operations, products and services, market type, terms of technology, self concept, customer satisfaction, values, and priorities of the company’s performance which are not listed within the facebook’s mission statement. They do provide a philosophy, but it also does not give full details of how they provide users with satisfaction. The missing characteristics of the mission statement make their statement underdeveloped under several circumstances. The missing mission statement characteristics make it hard to understand the meaning of the business and why it was created. The company overview gives more details on the...

Words: 1613 - Pages: 7

Premium Essay

Dell Pc

...your business name here} Date: 21 February 2013 {Guidance for completing your business plan can be found at the end of this document} Business profile |Structure |Sole Trader Partnership Company | |established |{Enter date} | |Date registered |{Enter date registered at Companies Office – if applicable} | |Registration # |{Enter the company number} | Contact details |Contact name |{Enter your name} | |DD |{Enter your main phone number} | |Mobile |{Enter your mobile phone number} | |Email |{Enter your email address} | |Postal address |{Enter your postal address} | |Physical address |{Enter your...

Words: 4121 - Pages: 17

Premium Essay

Wing, Inc

...This paper will provide an analysis of the Stretch’r Wings, Inc marketing plan with a focus on the sales portion. Stretch’r Wings, Inc is a hypothetical company. In this paper I will describe the component of their sales approach. Additionally, I will offer my opinion on their sales plan effectiveness, including the level of detail of the plan, with respects to the marketing mix. Finally, I will offer some suggestions for additions or changes to their marketing plan. Components of Sales Approach Elements of a successful marketing plan include a mission statement, a situation or SWOT analysis, objectives, marketing strategy (which includes the 4 P’s) and an implementation/evaluation/control plan. The Stretch’r Wings, Inc plan includes a well written, concise mission statement which will focus employees on the overall goal. Their plan also includes objectives and an implementation plan. These two items combined make for SMART (specific, measurable, achievable, realistic, and timely) goals. Their situation is vaguely written and there is no SWOT analysis. However, there is a competitive advantage (strengths portion of SWOT) which is clearly defined. The plan includes information on the 4 P’s: product, promotion, price and place. The product is clearly defined and spelled out in the product section. The promotional plan is explained as being completed through trade show demos, website and other direct marketing sales literature being produced. The plan states a more detailed marketing...

Words: 965 - Pages: 4

Premium Essay

Environmental Scan

...are many uncertainties organizations face when operating their businesses. These uncertainties can be limited if organizations perform environmental scans for their organizations. Environmental scanning assists businesses in providing information from internal and external environments to the executives so measures can be taken to take advantage of the information and succeed. SWOT (strengths, weaknesses, opportunities, threats) analysis is a key element of environmental scanning process which provides detailed information for the organization that can assist in growth and profits. Environmental scanning and SWOT analysis and how organizations use these tools to succeed and grow will be discussed in this paper. Environmental scanning is a process which monitors, evaluates, and disseminates information from internal and external environments to the people of the organization responsible of making decisions regarding growth and success of the company. Scanning the natural environment, societal environment (STEEP analysis), and task environment are the key elements of identifying the external environment. SWOT analysis should be performed to assess the internal environment of the organization. (Wheelen & Hunger, 2010) In scanning the natural environment, strategic managers must assess physical resources, wildlife, and climate. “The concept of sustainability argues that a firm’s ability to continuously renew itself for long-term success and survival is dependent not only upon the greater...

Words: 1305 - Pages: 6

Premium Essay

Business

...skill in how to negotiate their salary when asked during a job interview or after being hired. If they do know how to negotiate the author often finds that they did not do a very good job with the getting a salary they deserved. The author's recommended solution is listed below: No other factor has had such a direct impact on the success of my consulting business than that of providing resources on salary negotiation. For this reason, I added an activity to my professional business communication class that deals with salary negotiation. What began as a 20-minute discussion in one class is now permanently integrated into the interview exercise and takes three 75-minute class periods. The following is a SWOT Analysis for this case is as follows: After looking at the SWOT Analysis for this article, I find that the author while providing a realistic perspective to her class since was in the "real" world and gives back to her students valuable information need to negotiate a salary they perceive they are worth. I still think that the exercise is somewhat objective in the particular fact the situation is in a controlled environment even though it can be intimidating being in front of your peers acting out. This will sometimes take away from the effect of being in a negotiation situation and seem more like a acting class. The author has done a great job in detail the pain staking concern she has to help people negotiate their best salary. In this case, I agree with the...

Words: 871 - Pages: 4

Premium Essay

Mgmt 591 Expanded Research Proposal

...EXPANDED RESEARCH PROPOSAL SUBMITTED BY TEAM D MICROSOFT A COMPUTING GIANT.     A CHANGE IN EFFORT THE ORGANIZATION. WHAT WENT WELL? WHAT WENT WRONG? WHAT SHOULD THEY HAVE DONE?                                   A CASE STUDY OF MICROSOFT COMPANY   LEADERRSHIP AND ORGANIZATIONAL BEHAVIOR (MANAGEMENT 591)                                         PROFESSOR: ANITA SPECTOR      TABLE OF CONTENTS 1. INTRODUCTION TO THE COMPANY…………………………………………………………………………………..2 1.0. MICROSOFT: A COMPUTING GIANT 1. O.1. WHO IS MICROSOFT 1.0.2. WHO STARTED MICROSOFT 1.0.3. BILL GATES: HARVARD DROP-OUT 1.0.4. THE BIRTH OF MICROSOFT 1.0.5. THE ORIGIN OF THE NAME MICROSOFT 2. MICROSOFT'S OPERATING SYSTEM…………………………………………………………………………………..4 2.0. AN OPERATING SYSTEM 2.1. MICROSOFT MOUSE 2.2. WINDOWS 2.3. MICROSOFT OFFICE 2.4. INTERNET EXPLORER 2.5. XBOX 3. PRELIMINARY PROBLEM STATEMENT………………………………………………………………………………6 3.0 CHANGE IN TECHNOLOGY 3.0.1. FINANCIAL HIGHLIGHTS 3.1. CHANGE OF PRODUCTS 3.1.1. BRAND LOYALTY 3.1.2. BRAND REPUTATION 3.1.3. EASY TO USE SOFTWARE 3.1.4. STRONG DISTRIBUTION CHANNELS 3.1.5. ROBUST FINANCIAL PERFORMANCE 3.1.6. ACQUISITION OF SKYPE 3.1.6-1. POOR ACQUISITIONS AND INVESTMENTS 3.1.6-2. DEPENDENCE ON HARDWARE MANUFACTURERS 3.1.6-3. CRITICISMS OVER SECURITY FLAWS 3.1.6-4. MATURE PC MARKETS 3.1.6-5. SLOW TO INNOVATE 4. TIME PRICE AND SERVICE CHANGES……………………………………………….10 4.0. WHO IS AFFECTED   4.1. WINDOWS 10 5. Conclusion……………………………………………………………………………12 ...

Words: 3245 - Pages: 13

Premium Essay

It Strategic Plan

...description should include factual information about key aspects of the organization’s global environment, organizational structure, and IT values (see below for complete description and expectations). Content Will Include: Global Environment: In addition to the following items, include anything about the external environment that comes up in the strategic planning process. Such items can include, but are not limited to, competition or possible competition in the market, the need (or pressure) to outsource, whether relating to the given organization or the market (call centers, customer service, manufacturing, etc.). Confine the description to the organization’s unique, local situation in the present global economy. Issues affecting ALL organizations should be ignored. • Size and Type of Community: What is the size and type of...

Words: 2868 - Pages: 12

Premium Essay

Case Study Success

...these steps are iterative, in that you begin with step 1, then move to step 2, then reconsider step 1, then move to step 3, then reconsider steps 1 & 2, etc. This iterative process will help you develop excellent recommendations that are internally consistent , supported by compelling strategic and financial arguments. I highlight in red specific suggestions for how to incorporate outputs from this framework into a recommendation. 1. Define the problem – Objectives & constraints 2. Enumerate the decision factors – Alternatives & uncertainties (e.g., pros & cons) 3. Consider relevant information – Quantitative analysis and SWOT 4. Identify the best alternative. – Decision analysis 5. Develop plan for implementing the chosen alternative. – Marketing mix details & examples 6. Evaluate the decision and the decision process. – Re-evaluate the objective(s) & consider assumptions that make the 2nd-best alternative better than the chosen alternative 1. Define the problem. As you read through the case the first time, identify and highlight the decision-makers’ objective(s) and the constraints that make achieving the objective(s) difficult. The objectives may be broadly defined at this stage (e.g., increase revenues or profits). The constraints likely involve a disadvantage with respect to resources or capabilities or the presence of an external threat. 2. Enumerate the decision factors. Because you...

Words: 1505 - Pages: 7

Premium Essay

Marketing Plan

...1. Explain in detail the purpose of the Marketing Plan A marketing plan is a prerequisite for an investment, a product launch or start a business where, among other things, detailed what you hope to accomplish with this project, costing, time and resources to document use for their achievement, and detailed the steps to be taken to achieve the proposed analysis purposes. You can also address other than the purely economic, technical, legal and social aspects of the project. The marketing plan has two purposes: internal and external. The first has some parallels with what is meant by project engineering; this premium technically, while that is primarily economic. Both share a desire to be exhaustive, there is a sketch of an idea; and both cases involve a systematic plan to achieve certain ends. Unlike an engineering plan, the marketing plan is not subject to any regulation. His painstaking writing requires a detailed analysis of all factors that affect the project. This implies that some analyzes that have been approved after a brief and intuitive analysis, not be carried out for not being clear profitability. However, the projects approved by a complete study better take advantage of the favorable circumstances, having been planned in advance and have pointed to possible solutions. The Marketing Plan, as mentioned, also has an external role: often is the memorandum presented to attract financial resources or to the owners of the company to decide on the activation of...

Words: 778 - Pages: 4

Premium Essay

Different Types of Information’s

...DIFFERENT TYPES OF INFORMATION’S In this assignment I have been ask to describe the types of information and sources of information by including both internal and external. The next I am going to describe typical purposes of information used in a business and relate how these apply to Living Fashion. Living Fashion is large national retail store which selling a selection of ladies, men’s and children swear. In order to run the business effectively, businesses needs different types of information. This information may relate to employees, operations, customers, suppliers or competitors. In many cases this information is not required, so it needs to be safely and securely. Verbal Verbal communication is the best way how to communicate in a business. The reason is that of the high degree of impact it can create on an audience. Many businesses use this method to have staff meetings or telephone enquiry from their customers. Living Fashion may use verbal communication for their meetings or any conversation by involving two people discussing a topic. Verbal communication in Living Fashion is done by customer service and colleagues and advisors at store. Written Written communication involves a letters, emails, newspapers, books, trade journals or government publications. These types of written commutations help the businesses to receive important information’s from their stakeholders. Living Fashion is using letters, emails to receive customer’s complaints, orders and completed...

Words: 3884 - Pages: 16

Premium Essay

Smith Systems Consulting

...since 1994. During nearly 20 years of business, Smith Systems Consulting’s systems have required several upgrades. This scenario is meant to detail their most recent upgrade and will assume that much of the infrastructure is in place (i.e. networking cable is either Cat5e or Cat6, networking devices such as hubs, switches, routers, and wireless access points are in place and firmware is current, hardware such as printers and scanners are capable of supporting current and future needs; monitors, input devices, and workstation PC’s are capable of supporting current software requirements) and will focus on new hardware such as servers as well as new or updated software. The desired result of this project is to maintain both client and internal data security and integrity and ensure there is as little interruption to Smith Systems Consulting and their clients’ workflow as possible. A project team has been selected from within and has been tasked with planning and implementing this project. Before the project can begin, time must be spent in the planning phase. By not planning how the project will advance, resources such as time, money, and man-hours will be wasted. The members of the team must research the business implications, perform a SWOT analysis, identify the stakeholders, prepare a scope statement and SOW, and provide specific details of what the project will accomplish. Introduction It has become an almost inescapable part of our daily lives; professional and personal...

Words: 2840 - Pages: 12

Premium Essay

Vhcfhj

...1) ‘’Marketing is simplistically defined as ‘putting the right product in the right place, at the right place, at the right time’’(Marc). The marketing mix is a essential tool which helps to know what the product or service can offer and how to plan for a successful product offering. The marketing mix is the set of controllable marketing variables which the company mixtures to produce the reply it wants in the target market. There are four variables of the marketing mix: price, product, promotion, and place. The Product strategy defines the tactical resolution and details of the product; The Price strategy defines the tactical purpose and details of the pricing; The Promotion strategy describes the tactical purpose and details of advertising and communicating the product to rich its target audience; and the Place strategy describes the tactical purpose and details of hoe the product/service will be distributed (eBook). 2) The marketing managers can control the four P’s of the marketing mix. They can decide what product to offer, what price to charge for that product, how to distribute it, and how to reach the target audience. Unfortunately, there are other forces in the marketing word over which marketers have much less control. The external environment is characterized by forces, which exist outside of a business that can directly affect the business decisions, operations, and outcomes. The external environment includes economic, social, competitive, political, and technological...

Words: 1001 - Pages: 5

Premium Essay

Nokia

...Modern SWOT analysis in business and marketing situations is normally structured so that a 2x2 matrix grid can be produced, according to two pairs of dimensions. Strengths and Weaknesses, are 'mapped' or 'graphed' against Opportunities and Threats. To enable this to happen cleanly and clearly, and from a logical point of view anyway when completing a SWOT analysis in most business and marketing situations, Strengths and Weaknesses are regarded distinctly as internal factors, whereas Opportunities and Threats are regarded distinctly as external factors. Here is the explanation in more detail: Strengths and Weaknesses the internal environment - the situation inside the company or organization for example, factors relating to products, pricing, costs, profitability, performance, quality, people, skills, adaptability, brands, services, reputation, processes, infrastructure, etc. factors tend to be in the present Opportunities and Threats the external environment - the situation outside the company or organization for example, factors relating to markets, sectors, audience, fashion, seasonality, trends, competition, economics, politics, society, culture, technology, environmental, media, law, etc. factors tend to be in the future swot matrix (2x2 matrix using internal/external categories) Here is a typical extension of the basic SWOT analysis grid into a useful 'action-based' 2x2 SWOT matrix. The SWOT analysis in this format acts as a quick decision-making...

Words: 1009 - Pages: 5

Premium Essay

Strategic Management

...Details about SWOT analysis: Concept of SWOT analysis: SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. By definition, Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control. SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose is to identify the strategies that will create a firm specific business model that will best align an organization’s resources and capabilities to the requirements of the environment in which the firm operates. In other words, it is the foundation for evaluating the internal potential and limitations and the probable/likely opportunities and threats from the external environment. It views all positive and negative factors inside and outside the firm that affect the success. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization. Factors considering in SWOT analysis: An overview of the four factors (Strengths, Weaknesses, Opportunities and Threats) is given below- Strengths A firm's strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage...

Words: 454 - Pages: 2

Premium Essay

Decision Making

...Financial Resources Business financial resources that may indicate strength during your SWOT analysis include financial resources derived from sales activities, income from investors and the value of company infrastructure. Strong financial performance will enable a company to take advantage future opportunities. When an organization's financial indicators show weakness, the organization must assess which actions to take to improve its financial performance. Market Research When you are conducting a SWOT analysis, effective market research will show all the opportunities that are available to your company or organization. If your company is in a strong position, your analysis will help you decide the best approach for taking advantage of business opportunities. If your company is not presently positioned to take advantage of future opportunities, the SWOT analysis will help you decide which actions will strengthen your company's position. According to the University of Missouri Extension, "marketing touches every aspect of your business' operation." Related Reading: SWOT Analysis for Breakfast Cereal Performance Indicators Performance indicators provide the information that managers need to understand how the organization is performing in relation to its strategic goals and strategic objectives. In a SWOT analysis, performance indicators help a company determine how it can improve business operations, and determine how they can capitalize on strengths. Performance indicators...

Words: 1833 - Pages: 8