SWOT Analysis Strategy Assignment Example | Topics and Well Written Essays - 500 words

SWOT Analysis Strategy - Assignment Examplehe environment by identifying the strategies creating a firm specific business forge that best aligns the organizations resources and capabilities to the requirements of the environment in which it operates.The acronym SWOT stands for, as has been alluded, to strengths, weaknesses, opportunities and threats. Each of these has a strategic implication to the business, and proper analysis will certify a true picture of the organizations place in the business environment. Strengths and weaknesses argon internal to the business entity directly controlled by it while opportunities and threats atomic number 18 external, and a company can only anticipate and react to the changes. As such, analysis is instrumental in strategy formulation and selection to pursue the best possible position.For success to be realized, strengths should be build upon, weaknesses rectified, opportunities exploited and protect against threats. Strategic planning is enha nced by SWOT analysis as it is a source of information for strategic planning to identify core competencies, and setting of objectives. From the knowledge of the past and present, the future can be comfortably planned (Pearce & Robinson, 2012). permit us consider each of the four substrata in the SWOT matrix.An organizations strengths are either tangible or intangible qualities which enable it to master its missions. They form the basis under which success can be laid and sustained. They include patents, brand names, good reputation, exclusive access to resources, technical know-how by employees, and scattering network. The firm must have distinct features giving it consistency. The employee expertise, process capabilities, finances, products/services with customer goodwill and brand loyalty form the foundation for the organization to thrive.These are qualities hindering the firm from achieving its mission and accomplishing optimum potential by hindering the organizations success and growth. The absence of certain strengths