What resources do your competitors have that you do not? by referring to reliable sources, Efficient leadership by a charismatic CEO, Briefly discuss specific achievements and personal qualities of the CEO, Use statistical data from reliable sources to illustrate the extent of benefits derived from the economies of scale, Mention the most important innovations made by the company and respective patents the company possesses, Positive reputation for conducting ethical business, Briefly mention specific CSR policies, programs and initiatives that earned the company reputation as an ethical business, Organizational culture based on innovation and creativity, Discuss important aspects of organizational culture and ways in which these aspects increase competitiveness of the business, Discuss the patterns of location of the business and its importance, Presence of strong ecosystem of products and services. Threats faced by the business can be classified into two categories. These should be precise and verifiable statements. Seasonality of the business causes fluctuations of the need for the workforce over the course of the year. In other words, SWOT analysis lacks guidance and provision in terms of differences in importance between factors. (2019). Limitations of SWOT Analysis for Natural Gas Services Group, Inc. What resources do you have at your disposal that your competitors do not? However, regardless of how you choose to structure your analysis, we need to start by asking a series of questions. The list of major opportunities for a business may include new product development, finding new customer segments for existing products, opportunities for further cost reductions thanks to creativity and technological innovations and others. Fig. SWOT analysis has important practical implications. SWOT Analysis: Theory SWOT is a strategic analytical tool for assessing strengths and weaknesses of a business, analyzing opportunities available to the business, as well as, threats faced by the business. In other words, you may be able to convince a senior manager that results of your SWOT analysis may provide an important insight into the business and managers can act upon this knowledge to increase the efficiency of the business at various fronts. Software and consulting to help you grow your business, Software and consulting to drive success for your clients, A trusted guide for your digital marketing journey. Conversely, we can see that heightened competition from chain restaurants and the rising costs of ingredients are two of the four weaknesses identified by our fictional restaurant business. For example, PepsiCo has a large brand portfolio that focuses on drinks and snacks only, Discuss the benefits of first mover advantage for the business, Mention and discuss the market share of the company in the local or global marketplace, Discuss specific resources and their importance in terms of gaining competitive advantage, If possible, mention statistical data such as the number of consumers, the percentage of repeat purchases etc. In the example above, increasing consumer appetites for ethically produced, locally grown ingredients is a major opportunity. Before we get to the tips and techniques, let’s start with the basics: a definition of SWOT analysis. However, the majority of educational institutions provide students the flexibility to conduct SWOT analysis of a company of their own choice. Strength - Analyse stocks based on their strengths, weakness, opportunities, and threats. However, it’s often quite easy to come up with a list of potential threats facing your business or project without posing questions beforehand. The majority of sources explaining SWOT analysis assume that their audience is businesses aiming to improve their operational efficiency. This could include “branded” threats such as emerging or established competitors, broader threats such as changing regulatory environments and market volatility, or even internal threats such as high staff turnover that could threaten or derail current growth. Weaknesses in the SWOT Analysis of ITC : High Proportion of revenues from Tobacco products: ITC has been continuously making efforts to divert the FMCG business from over dependence on tobacco products and have been successful in doing so to an extent. Whatever you choose to call them, SWOT analyses are often presented as a grid-like matrix with four distinct quadrants – one representing each individual element. 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