What is SWOT Analysis?
SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats. The SWOT analysis is a set standard used to evaluate how a company is doing in terms of competitive advantage. The SWOT analysis is an important metric used by the management to help companies formulate strategic objectives to stay competitive.
One main advantage of SWOT analysis in company analysis is that it factors in both internal and external influencers of the business. The analytical process also pays close attention to the current and future potential of the company. Does that seem simple? However, some students may think that it is hard to handle such assignments. Our company provides a platform for all students requiring assignment help. Not just business-related subjects. We understand that you might be overwhelmed with extra curriculum or professional commitments that limit you to handle your assignments, why not get SWOT analysis assignment help from us?
How is SWOT Analysis used?
SWOT analysis has been in use for a long time. It is used to assess the current position of a company before deciding on the right strategy to steer the company forward. The SWOT Analysis helps to find out what is working and what is not working so well, how to get to the desired destination, and what you expect to find along the way. The SWOT analysis provides a simple and yet powerful tool to identify the issues.
Business students are required to understand how to analyze companies. The need to use SWOT analysis to identify how the given company can make the most out of what they got to the advantage of the competitors. SWOT analysis case studies are usually used by lecturers to identify whether students can get the most out of available signs. After completion of a case SWOT analysis, the student can distinguish company competitors and strategies that can be used to compete successfully in the market.
How to do a SWOT Analysis
Having identified the importance of the analysis, how can students conduct a SWOT analysis matrix? There are tons of SWOT analysis templates available online. However, the templates will mean nothing if the student does not understand the basics. A SWOT analysis template contains a 2 b 2 grid, with one square showing each of the four aspects of SWOT. The template is shown in figure 1 below.
SWOT analysis exercise requires the student to critically think about some important questions. We will go through how to write strengths, weaknesses, opportunities, and threats.
Company strengths are things that the organization does particularly well. It comprises all products and services that distinguish the company from its competitors. When writing a SWOT analysis, think of the advantage one company has over other organizations. Some of the strengths include access to certain materials, a strong set of manufacturing processes, or staff motivations.
Company strengths are an important part of the organization, thus, think about what makes the company a “tick”. Some questions to ask yourself are; What does the company do better than others? What values drive the company? What are the unique or lowest-cost resources can a company draw that others cannot? With this, critically analyze the company’s unique selling proposition (USP).
After carefully reviewing company threats, weaknesses are important. They are the unpleasant truths about a company. SWOT analysis allows analysts to identify important information about which areas the company is not doing well.
Just like strengths, the inherent features of an organization. Analysis of company weaknesses allows the management to identify areas they need to focus on; focus on its people, systems, resources, and procedures. The management needs to think of things it should avoid and those it should improve. A student should have a keen eye on the company weaknesses they seem to be blind to, identify why and how competitors are doing better and what the company is lacking.
Opportunities are chances or openings that a company has if some things are changed. They usually arise outside the organization. However, the analyst has to think of what might happen in the future. A close look at how the market is expected to change in the future will provide important insights about possible avenues to exploit. The ability to identify opportunities that can be improved depends on the existing strengths and weaknesses. A company does not have to change everything in the organization, small changes might change the company’s fortunes for good. The analyst needs to identify interesting market trends available that might impact products or services.
In this, the company should watch out for changes in government policy, social patterns, lifestyle changes, population profiles, and available resources to identify available opportunities currently or in the future.
Lastly, the SWOT analysis reviews available threats that are likely to affect the business from outside. Some common threats include shift of market requirements, supply chain problems, or shortage of recruits. SWOT Analysis allows companies to foresee the expected threats and take action before they happen.
For instance, before a company sets rolls out a new product, the management should consider quality standards or specification changes if they have to stay in the competition. Evolving technology is another threat facing most companies across the world. Technology may be a threat or an opportunity depending on the approach taken by the management.
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Have you been looking for quality SWOT analysis homework help or assignment help? You have come to the right place. Every student in a business-related field keeps getting assignments to analyze various companies or organizations using SWOT analysis. Frankly, it is not a hard task. You only need to identify the company’s strengths, weaknesses, opportunities, and threats. You might have been asked by your professor to conduct a SWOT analysis for big companies such as Apple Inc. SWOT analysis, Microsoft SWOT analysis, Toyota SWOT analysis, Tesla SWOT analysis, etc. Such assignments should not give you sleepless nights. Reliable Assignments are here to assist you with SWOT analysis; you only need to state which company. We are here to handle the assignment for you.
How to Write a SWOT Analysis Paper
SWOT analysis is all about finding the right data, facts, and reality. Business in the 21st century does not depend on pre-convincing beliefs anymore; rather, it is dependent on real-life contexts. Businesses are avoiding basing their notions and decisions on non-factual data. SWOT analysis is conducted to enable businesses to design data-driven, fact-based, and realistic strategies.
As you write your SWOT analysis paper, you must strive to use facts throughout the paper. Look for authentic websites to gather company data. Fortunately, the internet provides loads of information about company financial statements. Additionally, companies are also required to announce their earnings. Some of the sources of financial data include Yahoo Finance, Wall Street, SEC, NASDAQ, and company official websites. Use these websites to gather as much data as you can about the company.
Next, synthesize, analyze the data, and have an understanding of where the company stands in all four aspects of the SWOT analysis. If this is complicated for you, remember we got you covered, order for SWOT analysis assignment help.
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