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Strengths
Weaknesses
Opportunities
!
!
Threats
SWOT AnalysisFor Organizational Success
Objective
List the Objectives of SWOT
Explain What is SWOT Analysis
Explain the Elements of SWOT Analysis
Describe the SWOT Quadrants
Describe Who needs SWOT Analysis
Explain the Internal and External Factors
Explain the Steps of SWOT Analysis
Explain What is TOWS Analysis
Describe the Various Quadrant Combinations
Describe the Considerations for Effective SWOT Analysis
Explain the Role of Brainstorming in SWOT Analysis
Explain SWOT-Driven Strategic Planning
List the Tips for Effective SWOT Analysis
List the Benefits and Pitfalls of SWOT Analysis
List the Common Mistakes in SWOT Analysis
Introduction
Globus Inc. is a leading manufacturer of baby products.
It has decided to venture into the market of cosmetics with the launch of a new brand of cosmetics ‘Glaze’ in the market.
However, before Globus can actually make the final decision of venturing into a new market, it needs to find out the things that are working in its favor and the aspects that can lead to the failure of its new venture.
Introduction
Globus Inc. is a leading manufacturer of baby products.
It has decided to venture into the market of cosmetics with the launch of a new brand of cosmetics ‘Glaze’ in the market.
However, before Globus can actually make the final decision of venturing into a new market, it needs to find out the things that are working in its favor and the aspects that can lead to the failure of its new venture.
What do you think Globus should do to analyze this situation?
Introduction
Globus can do a SWOT Analysis of its position in the market.
Carrying out a SWOT Analysis will help Globus understand the company’s strengths, weaknesses, opportunities and threats.
SWOT Analysis would help Globus understand its strengths that would be helpful in the new venture, its weaknesses that need to be overcome to be successful in launching the new products, the opportunities that it has at hand to succeed in the new venture and the threats that it perceives to the success in the new venture.
Introduction
Globus can do a SWOT Analysis of its position in the market.
Carrying out a SWOT Analysis will help Globus understand the company’s strengths, weaknesses, opportunities and threats.
SWOT Analysis would help Globus understand its strengths that would be helpful in the new venture, its weaknesses that need to be overcome to be successful in launching the new products, the opportunities that it has at hand to succeed in the new venture and the threats that it perceives to the success in the new venture.
Hence, you can see that an organizational SWOT Analysis can be a very useful tool for a company’s development to succeed in any venture.
Let us look at organizational
SWOT Analysis in detail.
What is SWOT Analysis?
SWOT Analysis is a technique founded by Albert Humphrey who led a research project at Stanford University in the 1960s and 1970s.
The acronym ‘SWOT’ stands for:
S W
O T
Strengths
S W
O T
W
O T
Strengths are:
• Characteristics of the business or team that give it an advantage over others in the industry.
• Positive, tangible and intangible attributes, internal to an organization.
• Beneficial aspects of the organization or the capabilities of an organization, which includes human competencies, process capabilities, financial resources, products and services, customer goodwill and brand loyalty.
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Quadrant 3
Quadrant 1
Quadrant 2Quadrant 3
Quadrant 4Weaknesses and Opportunities
Quadrant 3 helps the organization through the formulation of strategies by opening up the opportunities along the road by reducing some weaknesses that are currently present.
Quadrant 3 —internal strengths matched with
external threats
TipMatching and converting is one way of utilizing SWOT.
‘Matching’ is used to find competitive advantages by matching the strengths to
opportunities. ‘Converting’ is to apply conversion strategies to convert weaknesses or threats into strengths or opportunities.
Finding new markets is an example of a conversion
strategy. Moreover, if the threats or weaknesses cannot be converted, then an organization should try to minimize or avoid them.
Steps of SWOT Analysis
Perform SWOT Analysis & Document:
This step includes the following:
1. Establish the objectives
2. Select contributors
3. Allocate research & information gathering tasks
4. Create a workshop environment
5. List SWOT Analysis
6. Evaluate listed ideas against Objectives
7. Carry your findings forward
Let us look at each in detail.
Perform SWOT Analysis & Document
Analyze Internal & External Environment
Prepare Action Plans
Perform SWOT Analysis & Document
Sear
chin
g ex
tens
ivel
y fo
r co
mpe
titor
sEffective SWOT Analysis
Searching Extensively for Competitors:
• It is critical for conducting an effective SWOT Analysis that you do not overlook any competitor, both current as well as future competitors.
• You should consider all competitors including the following:
o Product competitors
o Generic competitors
o Total budget competitors
Did You Know?
SWOT analysis is greatly used in competitor analyses. Marketers build detailed profiles of each competitor in the market, focusing especially on their relative competitive strengths and weaknesses by using SWOT Analysis. Marketing managers examine each competitor's cost structure, sources of profits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry developments, and other factors. The management often conducts market research to obtain this information about its competition.
SWOT Analysis TemplateCriteria Examples Strengths Weaknesses Criteria Examples
• What resources do you have: e.g. people, assets, USP, good marketing
• Do you have accreditations, qualifications, certificates?
• Do you have good process, systems, ICT, communications?
• Do you have good management succession planning?
• Are you financially secured?• Do you have a good
geographical location / easy distribution
• Do you have a good reputation within your field?
• Do you see an advantages of the proposition?
• What are the company’s capabilities?
• What are the company’s competitive advantages?
• What are the disadvantages of your situation / the proposition?
• What could you improve?• Does your workforce lack
skills?• What factors could lose you
business; financial vulnerability, weak supply chain, weak processes and systems, poor leadership
• Are you well known within your field
• Do you face any pressure from timescales and deadlines?
• Are there any adverse effects on core activities, distraction?
• Do you possess the proper processes and systems, etc.?
Common Mistakes in SWOT AnalysisIt is very important to conduct a SWOT Analysis that is effective and produces results. However, there are certain common mistakes that people tend to make while conducting a SWOT Analysis. The five most common mistakes that people make while conducting a SWOT Analysis are as follows:
Unclear goals or unclear objectives
Keeping a very narrow focus
Not taking input from others
Conducting an analysis only once
Relying on SWOT as a holistic diagnostic strategy
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