Sales and Marketing

In: Business and Management

Submitted By Astrid1003
Words 944
Pages 4
Undertaking a SWOT analysis This checklist is for those carrying out a SWOT analysis, SWOT being the acronym for Strengths, Weaknesses, Opportunities and Threats. It is a simple, much-used technique, which can help to prepare or amend, plans, in problem solving and decision-making.
Definition
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 a SWOT analysis involves the generation and recording of the strengths, weaknesses, opportunities, and threats in relation to a particular task or objective. It is customary for the analysis to take account of internal resources and capabilities (strengths and weakness) and factors external to the organization (opportunities and threats).
Benefits
SWOT analysis can provide:
• a framework for identifying and analyzing strengths, weaknesses, opportunities and threats
• an impetus to analyze a situation and develop suitable strategies and tactics
• a basis for assessing core capabilities and competences
• the evidence for, and cultural key to, change
• a stimulus to participation in a group experience.

Action checklist
1. Establish the objectives
The first key step in any project: is to be clear on what you are doing and why. The purpose of conducting a SWOT may be wide or narrow, general or specific.
2. Select appropriate contributors
Important if the final outcome is to result from consultation and discussion, not just personal views, however expert.
3. Allocate research and information gathering tasks
Background preparation is a vital stage for the subsequent analysis to be effective, and should be divided among the SWOT participants. This preparation can be carried out in two stages: exploratory, followed by data collection, and detailed, followed by…...

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