SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The first stage of planning in an organization includes SWOT analysis. It helps them to focus on the main issues. In SWOT analysis, the internal factors of organization are Strength and Weakness whereas external factors are Opportunities and Threats which are also called as situational factor. SWOT Analysis was developed during 1960s for large organizations to determine the strategic fit between an organization's internal, distinctive capabilities and external possibilities and to prioritize actions. This analysis portrays the current situation where we stand and where we would be in the near future. It helps to optimize weaknesses, replacing it with the strengths and utilize the available resources getting good opportunities. A study on SWOT Analysis is recommended through SWOT Analysis PPT.
SWOT Analysis is some or more using in business industry to utilize their resources in right way so it may be count under the Business PowerPoint Templates. Detecting this set of four factors are very significant for any organization as strength serves as foundation for growth, weakness can act as obstacle in the path of progress. By understanding these factors a firm can reinforce its strengths, overcome its weakness, can capitalize all the prevailing opportunities and can restrain the devastating threats.Strength and Weakness of an organization may include Location of business, marketing expertise, quality of the products and services, reputation, etc. If an organization has hold over these factors then it is the strength of that company but if they lack in any of the sector then it is the weakness. Opportunity could be introduction to international market, competition with ineffective organizations, market segments offering improved profits, etc. Threats could be new effective competitor, price wars, other organizations with improved products and ideas, taxation, etc.
We have to be very realistic, concise and specific when we are applying SWOT analysis in our organization.
We must know our Strengths, Weaknesses, Opportunities and Threats to analyze this study. It also come to understand that Strengths and Weaknesses are within the body and talking about Opportunities and Threats are force by terms from outside of a body.
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