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Define and explain a SWOT Analysis
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DescriptionDefine and explain a SWOT Analysis
The SWOT Analysis means Strengths, Weakness, Opportunities with Threats of the first English letters. In the company, through SWOT analysis can evaluate objective with company internal ability and integrated quality combing company environment. It involves specify the object of the project and identify the internal and external factors.
Many companies use SWOT analysis to understand their position in the market and develop a plan of action. So the SWOT analysis is an important part of the project planning. Strength (internal factors): attributes of the organization that help accomplish the project objective. Weaknesses (internal factors): attributes of the organization that stop accomplish the project objective. Opportunities (external factors): external conditions that help accomplish the project. Threats (external factors): external conditions that could impair the project .
There are some questions may be helpful to company SWOT analysis
Strength: What does the company do well? What is the good track record? Where does the organisation compete well? What do you do better than anyone else? What do people in your market see as your strengths?
Weaknesses: What can be developed? What is being done badly? What should the company avoid doing?
Opportunities: What might be possible? What will happen in the next few years? What financial / legislative changes can benefit the company in the near future?
Threats: What are rival organization doing? What change is coming?
SWOT Analysis of Myself
1.Very confident and assertive
2.Good communication skills
3. Analysis and problem-solving experience
1. I sometimes tend to get into too many details that delay fulfillment.
2. I can’t say ‘No’ if someone asks me for help with some work.
1. No demands on my time other than my work.
2. ERAU has a lot of educational and other opportunities
1.Many other students are better connected and have better skills
2. Now others can implement ideas much faster than I can
Value Chain Analysis (VCA) describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. Value Chain Analysis distinguishes between primary activities and support activities.
Primary activities are concerned with the physical creation of product, marketing and transfer to the buyer, and service. They can be grouped into five areas: inbound logistics, operations, outbound logistics, marketing and sales and service. These primary activities are linked to support activities to improve their efficiency. There are four areas of support activities: general administration, human resources management, research, technology and systems development, procurement.
The Value Chain analysis was used to evaluate the strategy of a company can be performed in the following steps, the first step should group them similarly to the primary and support activity, each category may be the key role to the firm’s success. Second is value which costs are related to ...
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