Swot Analysis

Topics: Financial services, SWOT analysis, Bank Pages: 3 (694 words) Published: May 16, 2013
SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. Strengths (S) and Weaknesses (W) are considered to be internal factors over which you have some measure of control. While Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control. It offers a foundation to evaluate internal potential and limitations and the probable/likely opportunities and threats from the external environment. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization. This analysis involves specifying the objective of the business venture and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. Strength is matched to opportunities to find competitive advantage, likewise conversion of weaknesses or threats into strengths or opportunities. If the threats or weaknesses cannot be converted a company should try to minimize or avoid them. The SWOT analyses would be across aspect such as the bank’s product, process, customer, distribution, finance and administration

Company background

Name| Firstbank of Nigeria Ltd|
Industries served| Financial Institution|
Geographic areas served| Nigeria|
Headquarters| Lagos, Nigeria|
Current CEO| Bisi Onasanya|
Revenue| |
Profit| |
Employees| |
Main Competitors| Zenithbank, GTB, Stanbic IBTC, Ecobank, UBA, Fidelity etc| SWOT analysis of Firstbank


Objective – Need for change with a view to maintain Leadership position and maximize profit while keeping a healthy workforce| Strengths| Weaknesses|
1. The bank has a network of 943 branches and 1529 ATMs2. Favorable business mix – (customers can find at least a product that meets their needs) 3. Quality Risk Management (There’s no concentration risk in any sector)4. The strength of...
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