IMPORTANCE OF SWOT ANALYSIS

abhishreshthaa

Abhijeet S
SWOT analysis is a basic, straightforward model that provides direction and serves as a basis for the development of marketing plans. It accomplishes this by assessing an organizations strengths (what an organization can do) and weaknesses (what an organization cannot do) in addition to opportunities (potential favorable conditions for an organization) and threats (potential unfavorable conditions for an organization).


SWOT analysis is an important step in planning and its value is often underestimated despite the simplicity in creation. The role of SWOT analysis is to take the information from the environmental analysis and separate it into internal issues (strengths and weaknesses) and external issues (opportunities and threats).


Once this is completed, SWOT analysis determines if the information indicates something that will assist the firm in accomplishing its objectives (a strength or opportunity),


SWOT analysis is a general technique which can be applied across diverse functions and activities, but it is particularly appropriate to the early stages of planning for a TIPD visit. Performing SWOT analysis involves generating and recording the strengths, weaknesses, opportunities, and threats relating to a given task.


It is customary for the analysis to take account of internal resources and capabilities (strengths and weaknesses) and factors external to the organization (opportunities and threats).
 
Back
Top