SWOT Analysis One of the most commonly used tools in strategic management and managerial decision-making is known as the SWOT analysis, which is an acronym for strengths, weaknesses, opportunities and threats. The SWOT analysis can be universally applied in a variety of situations, such as introducing a new product to the market, project management, changing distributors, expanding to another location, outsourcing and so on. During a SWOT analysis, an organization will proactively assess its internal environment for strengths and weaknesses and then examine the external environment for opportunities and threats. The internal environment refers to things that go on inside the company that, for the most part, the organization is in control of. Examples of the internal environment include: who you hire to work for your organization the skills and knowledge of your employees the chain of command what products or services you offer what price you charge your customers your margin of profitability The external environment are those things that occur independent of the organization and are out of the control of the organization. Examples of things in the external environment include: conditions in the market the perceived value of your product or services to the public trends competition the economy technological advancements politics society
Posted on: Wed, 19 Jun 2013 23:52:46 +0000
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