How Do You Prepare A SWOT Analysis?
A SWOT Analysis is prepared when evaluating the external and internal environments. The SWOT Analysis contains the following catergories: Strengths, Weaknesses, Opportunities, and Threats. By preparing a matrix of these factors, a company can decide which direction to take the company. Step 1 The (S) in SWOT Analysis stands for strengths. Identify the strengths of the company. This would include resources that give the company an obvious advantage. Some examples of strengths would be an established reputation, brilliant talent, global distribution, and expertise in a certain niche. Step 2 The (W) in SWOT Analysis stands for weaknesses. Identify the weaknesses of the company. Some obvious examples would be inexperience, high operating costs, and poor reputation. Step 3 The (O) in SWOT Analysis stands for Opportunities. When identifying opportunities, look for potential enhancements, new potential clients, or cost reductions. Step 4 The (T) in SWOT Analysis stands for Threats. Some poten
