SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture or in any other situation of an organization or individual requiring a decision in pursuit of an objective.
It involves monitoring the marketing environment internal and external to the organization or individual. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from the Fortune 500 companies
SWOT analysis is part of the Harvard Policy Model, which has been developed as part of the business policy courses taught at the Harvard Business School since the 1920s.
"The main weaknesses of the Harvard model are that it does not draw attention to strategic issues or offer specific advice on how to develop strategies, except to note that effective strategies will build on strengths, how to take advantage of opportunities, and how to overcome or minimize weaknesses and threats."
SWOT analysis can be used to help in the pursuit of that objective
Strength
Attributes of the organization those are helpful to achieving the objective.
Weaknesses
Attributes of the organization those are harmful to achieving the objective.
Opportunities
External conditions those are helpful to achieving the objective.
Threats
It involves monitoring the marketing environment internal and external to the organization or individual. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from the Fortune 500 companies
SWOT analysis is part of the Harvard Policy Model, which has been developed as part of the business policy courses taught at the Harvard Business School since the 1920s.
"The main weaknesses of the Harvard model are that it does not draw attention to strategic issues or offer specific advice on how to develop strategies, except to note that effective strategies will build on strengths, how to take advantage of opportunities, and how to overcome or minimize weaknesses and threats."
SWOT analysis can be used to help in the pursuit of that objective
Strength
Attributes of the organization those are helpful to achieving the objective.
Weaknesses
Attributes of the organization those are harmful to achieving the objective.
Opportunities
External conditions those are helpful to achieving the objective.
Threats
External conditions those are harmful to achieving the objective.
The following factors can be summarized as company's internal strength and weakness factors.
Company culture
Company image
Organizational structure
Key staff
Access to natural resources
Position on the experience curve
Operational efficiency
Operational capacity
Brand awareness
Market share
Financial resources
Exclusive contracts
Patents and trade secrets
The following factors can be summarized as company's internal strength and weakness factors.
Company culture
Company image
Organizational structure
Key staff
Access to natural resources
Position on the experience curve
Operational efficiency
Operational capacity
Brand awareness
Market share
Financial resources
Exclusive contracts
Patents and trade secrets
The following factors can be summarized as company's oppportunities and threats factors.
Customers
Competitors
Market trends
Suppliers
Partners
Social changes
New technology
Economic environment
Political and regulatory environment
1 comment:
Hi, thanks for the blog. I like to do a SWOT analysis together with a Value Chain Analysis to maximize the effectiveness of both tools.
Here are articles on how to write both:
http://www.coursework4you.co.uk/swot.htm
http://www.coursework4you.co.uk/valuechain.htm
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