SWOT ANALYSIS

MEANING
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture or of an individual also.

EVOLUTION
The

technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies

 SWOT

analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for, strengths, weaknesses, opportunities and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.

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Strengths:

characteristics of the business or team that give it an advantage over others in the industry. E.g. goodwill, Market Share etc. are characteristics that place the firm at a disadvantage relative to others. e.g.-low technology, lack of funds etc.

Weaknesses:

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Opportunities:

external chances to make greater sales or profits in the environment. e.g.- company expansion. Threats: external elements in the environment that could cause trouble for the business. e.g. change in technology, competition.

A Personal SWOT Example

What would a personal SWOT assessment look like?

SWOT analysis for manager.

STRENGTHS

Communication skills Creativity Leadership Good Decision maker Initiator

WEAKNESSES
Nervousness Fear

of Public Speaking Stress Over Confidence

OPPORTUNITIES
Career

Development opportunity Training seminar Failure of Competitors

THREATS
Competition Advanced

Technology Globalization Change in Govt. Policy

RECOMMENDATIONS

Strengths

should be maximized . Weaknesses must be removed & converted into strengths. Opportunities in the external environment should be fully exploited. Threats should be taken as challenges.

SWOT Analysis Of TATA NANO Car

Car

Strengths :

Cheapest Eco-Friendly Fuel Efficiency & Engine Stylish

Weakness :

Opportunities :

Cost Control Parking Space Low Maintenance World Wide Appeal

Threats :

Cost may increase in Future Bad impression due to late launching date in market Competitors HYUNDAI, BAJAJ, GM