Swot Analysis
SWOT Analysis Revision Guide
The SWOT analysis has been widely accepted in marketing and business literature as a valuable means of assessing the fit between what a firm can and cannot do
(strengths and weaknesses) and the environmental conditions that influence firm choices and behaviour (opportunities and threats) (Ferrell and Hartline, 2011:120).
Strategic focus and the development of effective, productive priorities is a frequently overlooked and undervalued condition of the modern business environment. For organisations seeking to establish more opportunistic competitive footholds, the SWOT analysis offers a snapshot interpretation of both internal and external variables that could both positively and negatively influence the effectiveness of business decisions
(Ferrell and Hartline, 2011:122). One of the key values of the SWOT analysis is that it may allow firms to recognise those areas of the organisation that, whilst once highly successful and value-added business segments, are now in decline as a result of either internal or external conditions (Griffin, 2011:73-4). A more comprehensive exploration of the market including those forces that act upon corporate strengths or exploit organisational weaknesses will present both the opportunities and the threats that must be incorporated into the business strategy.
Organisational opportunities can be leveraged in order to increase corporate performance, either by converting weaknesses into strengths or by accessing new strengths that can be strategically integrated into the organisational model. Threats will limit this performance, and without addressing these limitations and degrading influences, firms may fail to effectively navigate market changes or variability (Griffin,
2011:70). Exploring the internal capabilities involves a segment by segment review of business processes, exploration of systems, evaluation of facilities and equipment, assessment of team skills and experience,
The SWOT analysis has been widely accepted in marketing and business literature as a valuable means of assessing the fit between what a firm can and cannot do
(strengths and weaknesses) and the environmental conditions that influence firm choices and behaviour (opportunities and threats) (Ferrell and Hartline, 2011:120).
Strategic focus and the development of effective, productive priorities is a frequently overlooked and undervalued condition of the modern business environment. For organisations seeking to establish more opportunistic competitive footholds, the SWOT analysis offers a snapshot interpretation of both internal and external variables that could both positively and negatively influence the effectiveness of business decisions
(Ferrell and Hartline, 2011:122). One of the key values of the SWOT analysis is that it may allow firms to recognise those areas of the organisation that, whilst once highly successful and value-added business segments, are now in decline as a result of either internal or external conditions (Griffin, 2011:73-4). A more comprehensive exploration of the market including those forces that act upon corporate strengths or exploit organisational weaknesses will present both the opportunities and the threats that must be incorporated into the business strategy.
Organisational opportunities can be leveraged in order to increase corporate performance, either by converting weaknesses into strengths or by accessing new strengths that can be strategically integrated into the organisational model. Threats will limit this performance, and without addressing these limitations and degrading influences, firms may fail to effectively navigate market changes or variability (Griffin,
2011:70). Exploring the internal capabilities involves a segment by segment review of business processes, exploration of systems, evaluation of facilities and equipment, assessment of team skills and experience,