SWOT Analysis - Essay Example

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The SWOT analysis entails the identification of the external and internal environmental factors that have an impact on the short-term and long-term activities in organizations. As a result, the management can uphold and advance their operations in order to keep up with…
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SWOT Analysis
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Download file to see previous pages The strengths and weaknesses define the internal environment while the opportunities and threats represent the external environment to a business (Ferrell & Hartline, 2011).
Managers should analyze all their internal positive characteristics of their organization with an aim of exploiting them. These attributes represent the strengths of such an organization and the analysis helps in indentifying the extent to which these factors can be utilized. The strengths include the resources at the firm’s disposal that ensure all the business practices run smoothly (Ferrell & Hartline, 2011). In addition, the positive characteristics are considered as strengths from their capability to sustain the organization’s competitive advantage and the positive aspects of the human resource. The managers should focus on these attributes in order to add value to the business operations. These organization’s strengths are within the management’s control.
The weaknesses represent the factors that work toward minimizing the capacity to add value through an organization’s operations. Consequently, these factors reduce the expected value of an organizations operations and leads to a decrease in their competitive advantage in the markets. Such weaknesses include inability to utilize the existing resources maximally, poor quality services and poor positioning in the market. These factors are also within the management’s control (Ferrell & Hartline, 2011).
Opportunities are aspects of the external environment to an organization. They symbolize the incentives for the existence and the possible progress of business operations in the market. These incentives present an opening to advance business practices and improve the current benefits. They also offer a chance for growth and development of activities that add value to the organizations and its stakeholders (Ferrell & Hartline, 2011). These opportunities also lead to ...Download file to see next pagesRead More
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