SWOT Analysis
1.0 SWOT Analysis – An Overview
SWOT analysis is widely used by corporation all over the world to help them in developing their corporation’s business strategy. It is a normal practice that when we conduct business strategy, the main point that we will look into is the strength and weakness that leads to the profit and loss of the corporation. How we tackle the strength and weakness are by conducting study on the opportunities and threats seen surrounding.
SWOT is an acronym that stands for Strength, Weakness, Opportunity and Threats. A SWOT analysis is an organized list of a business’s greatest strengths, weaknesses, opportunities, and threats.
Strengths and weaknesses are internal to the company such as reputation, patents and location. It can changed over time but not without some work. Opportunities and threats are external such as suppliers, competitors and prices. As a business owner, there is no way for someone to take control over opportunities and threats as they are there like mushrooms.
Existing businesses can use a SWOT analysis, at any time, to assess a changing environment and respond proactively. In fact, conducting a strategy review meeting at least once a year that begins with a SWOT analysis is highly recommend by some reputable business analysts.
New businesses should use a SWOT analysis as a part of their planning process. There is no “one size fits all” plan for a business, and thinking about the new business in terms of its unique “SWOTs” will put it on the right track right away, and save from a lot of headaches later on.
Originated by Albert S Humphrey in the 1960s, the tool is as useful now as it was then. Business owner can use it in two ways – as a simple icebreaker helping people get together to "kick off" strategy formulation, or in a more sophisticated way as a serious strategy tool.
The tourism industry in Malaysia is the second fastest growing industry in the country after the manufactuing sector. The tourism industry
SWOT analysis is widely used by corporation all over the world to help them in developing their corporation’s business strategy. It is a normal practice that when we conduct business strategy, the main point that we will look into is the strength and weakness that leads to the profit and loss of the corporation. How we tackle the strength and weakness are by conducting study on the opportunities and threats seen surrounding.
SWOT is an acronym that stands for Strength, Weakness, Opportunity and Threats. A SWOT analysis is an organized list of a business’s greatest strengths, weaknesses, opportunities, and threats.
Strengths and weaknesses are internal to the company such as reputation, patents and location. It can changed over time but not without some work. Opportunities and threats are external such as suppliers, competitors and prices. As a business owner, there is no way for someone to take control over opportunities and threats as they are there like mushrooms.
Existing businesses can use a SWOT analysis, at any time, to assess a changing environment and respond proactively. In fact, conducting a strategy review meeting at least once a year that begins with a SWOT analysis is highly recommend by some reputable business analysts.
New businesses should use a SWOT analysis as a part of their planning process. There is no “one size fits all” plan for a business, and thinking about the new business in terms of its unique “SWOTs” will put it on the right track right away, and save from a lot of headaches later on.
Originated by Albert S Humphrey in the 1960s, the tool is as useful now as it was then. Business owner can use it in two ways – as a simple icebreaker helping people get together to "kick off" strategy formulation, or in a more sophisticated way as a serious strategy tool.
The tourism industry in Malaysia is the second fastest growing industry in the country after the manufactuing sector. The tourism industry
References: http://articles.bplans.com/business/how-to-perform-swot-analysis/116#ixzz3IwUogy89