SWOT Analysis: How it works and how to use it in your business
Posted: Sun Dec 22, 2024 6:18 am
SWOT analysis is an essential tool for strategic analysis in a business context.
SWOT analysis can be applied to the entire company as well as to its individual sectors, such as marketing, finance, production and many others.
SWOT is an acronym that comes from the first letters of the English words Strengths (strong points), Weaknesses (weak points), Opportunities (opportunities), Threats (threats).
The SWOT method is especially useful for philippines number list strategic planning, launching a new product, deciding on expanding or restructuring a company, and analyzing competitors and the market.
Conducting a SWOT analysis boils down to identifying all the key factors that influence a company's strategic situation in four analytical categories.
For a SWOT analysis to be effective, both individual areas of the company and its environment must be thoroughly investigated.
A SWOT analysis consists of several main stages: defining objectives, identifying strengths, weaknesses, opportunities and threats, analyzing and interpreting the results, creating the strategy, executing and monitoring.
The SWOT analysis is also the starting point for selecting one of the four basic types of business strategy. These strategies are aggressive, defensive, conservative and competitive.
A good approach is to also use other strategic analysis tools, such as Porter's 5 Forces analysis, Astra analysis or PEST analysis, among others.
Combined with other analytical tools, the results of a SWOT analysis can provide a good basis for making effective decisions about how the company should continue to operate in a changing business environment.
SWOT analysis can be applied to the entire company as well as to its individual sectors, such as marketing, finance, production and many others.
SWOT is an acronym that comes from the first letters of the English words Strengths (strong points), Weaknesses (weak points), Opportunities (opportunities), Threats (threats).
The SWOT method is especially useful for philippines number list strategic planning, launching a new product, deciding on expanding or restructuring a company, and analyzing competitors and the market.
Conducting a SWOT analysis boils down to identifying all the key factors that influence a company's strategic situation in four analytical categories.
For a SWOT analysis to be effective, both individual areas of the company and its environment must be thoroughly investigated.
A SWOT analysis consists of several main stages: defining objectives, identifying strengths, weaknesses, opportunities and threats, analyzing and interpreting the results, creating the strategy, executing and monitoring.
The SWOT analysis is also the starting point for selecting one of the four basic types of business strategy. These strategies are aggressive, defensive, conservative and competitive.
A good approach is to also use other strategic analysis tools, such as Porter's 5 Forces analysis, Astra analysis or PEST analysis, among others.
Combined with other analytical tools, the results of a SWOT analysis can provide a good basis for making effective decisions about how the company should continue to operate in a changing business environment.