Topic
The Purpose of SWOT Analysis
Instructions
Review the SWOT Analysis information located in Chs. 2 and 3 of the Strategic Management textbook, and additional University Library sources found on the Week 2 Electronic Reserve Readings page to see the types of information that companies or industries include.
Write a 700- to 1,050-word paper in which you address the following:
- Discuss the elements of a SWOT analysis. What elements to all SWOT analyses have in common? Why might some be different?
- Identify the elements the team considers most important and that would be included in a SWOT conducted by the team. Why were these chosen?
- Explain the purpose of a SWOT analysis. What are the alternatives?
- Discuss the advantages and disadvantages of the SWOT analysis.
Format your paper consistent with APA guidelines.
Answer preview
SWOT analysis has been helping people and organizations identify the four important elements of the analysis. Notably, SWOT is an acronym which stands of strengths, weaknesses, opportunities and threats. It is clear that strengths offer a clear analysis of the organization’s advantages over its rivals. Weaknesses usually consider areas in which the organizations are at a competitive advantage. On the other hand, opportunities assists business organizations explore some of the untapped opportunities in order to find different ways of growing. It is apparent that opportunities might include both emerging and new markets, new product and business as well as developments and strategic business collaborations which might develop increased profits and sales (B, H. A, 2013).
Word count: 361