1:39 PM Company SWOT analysis: An important tool in companies strategic planning: |
SWOT analysis, is considered as an important strategic planning tool that is used to evaluate company’s Strengths, Weaknesses, Opportunities, and Threats. Identifying the company’s SWOT analysis is not an easy task; it requires enough research and time. Success and failure of business is totally depending on these four factors. SWOT can be classified into internal factors (Strengths, Weaknesses) and external factors (Opportunities, and Threats). It provides benefit to your organization’s management team in achieving long term and short term goals easily and effectively. Going in the right direction: SWOT analysis will be helpful in many ways. It will help entrepreneur to know whether they are going in the right direction or not. On the other hand, it helps investors in identifying whether the company is capable enough to attain their desired goals and objectives or not. The strengths, weaknesses, and opportunities of SWOT analysis are fairly simple in recognizing than threats; we will outline them a bit below: Strengths: What are your company’s strengths? What make them distinguish from the competitors? Etc. In this, you have to show your investors that your business has proven to be very, very successful. Weaknesses: When we look at the other side of the coin, we notice that there are many areas of a business that don’t seem to go as smoothly. It is necessary to identity those areas properly. Be very careful and honest in showing your weaknesses. Opportunities: Opportunities can be seen as targets to attain and exploit in the future. This external factor is influencing directly or indirectly to your business.
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