A Swot Analysis Strengths And Weaknesses

“A SWOT analysis is a powerful technique for identifying strengths and weaknesses and for examining the opportunities and threats your employees face.” (Kara Bragg, National training manager at advantage sales and marketing) SWOT is an acronym for Strengths, weaknesses, opportunities and threats. Strengths portray those center competencies of a business, strategic factors that may make a certain project more likely to succeed Also zones the place the benefits of the business might have points of interest over different comparable organizations. An example of a strengths is the brand awareness and recognition of a company, so with launch of a new product the products will have a strong backup from the reputation of the company’s brand in the

Now what everybody thinks is that SWOT is merely a matrix for evaluating the planning of the fours attribute of the SWOT related to a business, a company or an organization. However, we could put it in the contexts of individuals too, by helping in the assistance of development in the employee’s careers using the best of their talents, abilities and opportunities plus minimizing the effect of their weaknesses on the overall performance and reducing the amount of threats that is threatening their

The concept soon get recognition and practical use between managers, consultants and strategic planners in an international scale. After that, the interpretation of the elements changed slightly than its first appearance:

• S in SWOT now represents the strength, what internal factors that gives the business advantage over competitors.

• “W stands for weaknesses portrayed as disadvantages that a business faces against other competitors.

• O Represents opportunities the environment possibilities that can be explored or utilized to boost the business’s growth.

• T signifies threats the factors which can cause problems for the business and decreases its profits.”

(taken from rapidbi.com)

The 1st model for this methodology was tested, approved and published in 1966 by “Erie Technological Corp” and in 1966 the very first model was brought to the U.K under the sponsorship of “W H Smith & Sons plc,” and finished by 1973. “The process has been used successfully ever since. By 2004, now, this system has been fully developed, and proven to cope with today's problems of setting and agreeing realistic annual objectives without depending on outside consultants or expensive staff resources.”(businessballs.com, SWOT