SWOT

A SWOT analysis (alternatively SWOT matrix) is a structured planningmethod used to evaluate

the strengths, weaknesses, opportunities and threats involved in a project or in
a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It
involves specifying the objective of the business venture or project and identifying the internal and
external factors that are favorable and unfavorable to achieve that objective. Some authors credit
SWOT to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI
International) in the 1960s and 1970s using data from Fortune 500 companies.[1][2] However, Humphrey
himself does not claim the creation of SWOT, and the origins remain obscure. The degree to which the
internal environment of the firm matches with the external environment is expressed by the concept
of strategic fit.

Strengths: characteristics of the business or project that give it an advantage over others.

Weaknesses: characteristics that place the business or project at a disadvantage relative

to others.

Opportunities: elements that the business or project could exploit to its advantage.

Threats: elements in the environment that could cause trouble for the business or project.

Elements:
1. Statistical Description Of Data 2. Measures Of Central Tendency Or Averages 3. Measures Of Dispersion
Or Variation 4. Correlation Analysis 5. Regression Analysis 6. Probability And Bayes' Theorem 7. Skewness,
Moments And Kurtosis ... .... ... 12. Partial Correlation And Multiple Regression 13. Revision Techniques

Corporate Strategy Planning

Strategic planning is an organization's process of defining its strategy, or direction, and
making decisions on allocating its resources to pursue this strategy. It may also extend to control
mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in
corporations during the 1960s and remains an important aspect of strategic management. It is
executed by strategic planners or strategists, who involve many parties and research sources in their
analysis of the organization and its relationship to the environment in which it competes. [1]
Strategy has many definitions, but generally involves setting goals, determining actions to achieve the
goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will
be achieved by the means (resources). The senior leadership of an organization is generally tasked
with determining strategy. Strategy can be planned (intended) or can be observed as a pattern of
activity (emergent) as the organization adapts to its environment or competes.

Combination strategies
combination strategy is a resource used by corporations or businesses to further their identified
business goals at the same time. Usually, businesses pursue goals like growth, consolidation or other
interests that include stability, with the aim of improving their overall performance. Some strategies that
may be combined include differentiation, cost and the system by which a company focuses on an
identified market niche. All of these strategies are geared toward increasing or improving
the competitive advantage of a business.
One of the components of combination advantage is the differentiation strategy. This strategy involves
a targeted effort by a business to make its product or service to be perceived as unique and innovative
in a market that is full of similar products or services. Companies use various methods to confer this
feeling or perception of uniqueness upon their own brand of a product, which already exists in different
forms. Such methods include unique packaging, mystery ingredients, or clever promotions. The
uniqueness of the product or service is the differentiating factor.

SM Importance
1.
2.

It provides a way to anticipate future problems and opportunities.

It provides employees with clear objectives and directions for the future of the
organization.

3.

It results in more effective and better performance compared to non-strategic

management organizations.

4.

It increases employee satisfaction and motivation.

5.

It results in faster and better decision making and

6.

It results on cost savings.