What is a SWOT analysis? Description
A SWOT analysis is a tool, used in management and strategy formulation. It can help to identify the Strengths, Weaknesses, Opportunities and Threats of a particular company.
Strengths and weaknesses are internal factors that create value or destroy value. They can include assets, skills, or resources that a company has at its disposal, compared to its competitors. They can be measured using internal assessments or external benchmarking.
Opportunities and threats are external factors that create value or destroy value. A company cannot control them. But they emerge from either the competitive dynamics of the industry/market or from demographic, economic, political, technical, social, legal or cultural factors (PEST).
Typical examples of factors in a SWOT Analysis diagram:
|Strengths |Weaknesses |
|Specialist marketing expertise |Lack of marketing expertise |
|Exclusive access to natural resources |Undifferentiated products and service (i.e. in relation to your competitors) |
|Patents |Location of your company |
|New, innovative product or service |Competitors have superior access to... [continues]
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