Why do we need SWOT analysis ? How important is SWOT analysis for an organization ?

in simple words, SWOT helps you to evaluate - to reorganize - to re-plan your organization and planning

 

SWOT Analysis is Strength, Weakness, Opportunities and Threat Analysis.   We need to do this analysis for us to identify the internal (Strength and Weaknesses) and external (Opportunities and Threats) factors relevant to the achievement of the objective of the organization.   Strengths are characteristics of the organization that give it advantage over the others.  Weaknesses are characteristics that puts the organization at a disadvantage over the others.  Opportunities are elements in the environment that the organization can exploit for its advantage.  Threats are elements in the environment that could cause trouble for the organization.

 

The result of SWOT analysis is very important as it provides information in the planning stages in designing strategies to achieve the objective.  The appropriateness of these strategies are weighed   on whether the identified objective is attainable or not.  If the current objective is not attainable, decision makers can select new objective and repeat the process.    

SWOT helps in analysing the organisation to arrive at a planning which can be helpful to frame the action plan to serve the basic purpose of an organisation's existance.

Performing a SWOT analysis helps one thoroughly understand his or her business by presenting a viewpoint of the company's operations from a different angle. For new businesses, this analysis is critical to the organization's planning process. It can, however, be performed at any time. A company's unique “SWOTs,” as they are often referred to, will help get a new business on the right track.

this would be your basis and to fully understand the every aspects of the business you're up to for you to provide the best plan or strategy what the business is lacking or what does it needs and how to deal with it.

SWOT analysis simply refers to or stands for strengths, weaknesses, opportunities & threates that a business or company may be faced with at a certain time. This analysis is very important & indispensable because it helps you recognise & understand the various factors that may positively or negatively affect your business or influence it. A model example of SWOT analysis could be; STRENGTH- we have the best quality beverage in town. WEAKNESS- we have few outlets in town. OPPORTUNITY- there is increasing demand for beverages in town. THREATES- there are many new entrants in the beverage industry. Another equally important model in business success is PESTEL (political, Economical, Social, Technological, Environmental & Legal) factors.

thanks ...

Personal analysis is a tool to evaluate yourself in order to plan for your professional life. Let us all know that it is the hardest part to find a job that you love and match your skills and of course also be financially rewarding. It is a swot analysis that swot analysis symbolizes the following (your strengths - your weaknesses - opportunities - threats) you can use to evaluate yourself and use it also to find opportunities for career growth ...How to do a personal swot ...The first step is to score your strengths. Knowing your strengths will make you more confident during your personal interview. For example, when you are looking for a job promotion, here are some questions you need to ask yourself. What are the professional qualifications and certificates that make you distinguished and distinguished from others? Can your experience in some areas make a difference to the organization? What projects have you successfully implemented? What are your other skills that make you distinguished and distinguished from others? Example, such as leadership and dedication to work - what other people think are your strengths) Important Note: Being prominent and distinguished from others is the most important part of this analysis. For example, if we have a software company, Degree in Engineering Degree in Software Engineering But if you have a master's degree in mathematics you may be different.A step in this kind of analysis is to identify your weaknesses ... Your weaknesses are the best way to improve them through this analysis. Ask yourself these questions (do you have the skills and qualifications necessary to be successful in your current and future roles - do you have a bad habit, for example Weak communication skills - what other features can you improve to be more efficient? - What other people think are your weaknesses? Significantly important Be honest and realistic when answering these questions Finally, this analysis is self-evaluation and will not be used by others. Starting for future improvements ...The following step: Look for the right opportunities .. Take chances in different forms and types. You may miss the opportunity sometimes without noticing it so here are some things to be aware of. Is there any new technology you can benefit from in the future? Is the new job advertised in your company suitable for your skills? Is this position vacant? Is there a new project in your company? Join him - Can you acquire new skills that give you a competitive advantage, for example in the aviation industry is your knowledge of the language other than your native language of the advantages ..Step 4: Be aware of the threats .. When you do this analysis you will need something like you company or product and protect yourself from others .. In this way it will be easy to identify threats (Does one of your colleagues do better than you in the same role - Are you fighting for Get the same promotion - do your personal traits hurt your career progress - what obstacles to achieving your goals can be at work or in your personal life -) Identify threats and try to eliminate them. When it comes to eliminating threats, Personal features. You can ask for expert help if needed. Finally, we conclude that SWOT templates are your strengths, weaknesses, opportunities, threats.

SWOT analysis is very important for businesses as it can help to make decisions vital to the business's survival. For example, you might want to know what are your core strengths? What are the unique factors about you that sets you apart from the competition?, How people in the market look at you? What are your USPs? what are the main reasons why people do business with you? It can also help to identify weaknesses such as What you should change? What you should avoid doing? What are the factors that make people consider you a weaker player amongst the competitors? What are the factors due to which you are losing on sales? It can also help you better identify opportunities such as implementation of newer technology to increase your efficiency, Also to be aware of social pattern, consumer mindset and trends government and trade policies that you can take advantage of or to take take measure to avoid repercussions. If we also consider the Threat factor, then we can get a better data of who are our biggest competitors? How is our financial outlook?, Do we have any obstacles that is keeping us from moving forward? What are the up coming trends and how they can affect us negatively?

These are just some of the things that are covered, a very detailed analysis can help you use that data to make better business decisions, make use of opportunities and avoid or minimize threats as much as possible.

We need SWOT analysis in the reorganization and replanning our personal life or Business company in the different sectors. This happens when we use this anlysis (Strength - Weakness - Opportunities - Threats) to allocate  probabilities of the success and failure .

By using this analysis such as an example in the new product,  we can identify and define the Strength points in the new products and level of the competition with other products in the market. Weakness will refer what the weak points in this product compare with other in the existing & prospective market. Both factors will give us positive or negative indications about this product. Then we will check up the external elements as Opportunities & Threats for the marketing and sales this product after production and manufacturing process. as we have to know the market trends, Customers desires and needs and activities of the competitors for the same product with potential customers. Besides this element we have to know the size of the Threats on this product which are related to the various aspects and issues, Social, Political, Technologica, Environmental or Legal, all these issues may affect on the new product situation in the market and be considered as real Threats during the marketing and sales operations.

Thanks for the Invitation 

It can help the organization identify and understand key issues affecting organization business, but it does not necessarily offer solutions. Organization should be aware of the limitations as well as the benefits of a SWOT analysis before organization decides to conduct one. Knowing what organization can reasonably expect to achieve will make the SWOT analysis more useful for organization business, and will save organization time. Ultimately, organization must be prepared to spend the time to review organization SWOT analysis and use it to determine the best way forward in organization business.

Greetings and respect

Thanks for inviting me. The importance is to make the right decisions.