SWOT Analysis Essay?Being a business student, it is pivotal to study SWOT analysis in the initial years of your business education, because these concepts are the basics of every strategic decision, a company plans to take; let it be acquisitions, mergers, ventures, expansions, or launching a new product. Hence, under no circumstances, can you escape from SWOT essays or assignments, throughout your business education.
What you, being a student need to be vigilant while doing a SWOT assignment or essay is that you need to identify the aspects accurately that fit the internal and external factors individually.
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If the assignment is regarding strategic decision making and you fail to do a SWOT analysis adequately, you will land up proposing strategic decisions that do not fit well into the given situation. Thus, let’s first have a look at these four components of SWOT individually;-InternalSTRENGTHSStrengths are fundamentally the capabilities and abilities of the company that is actually making it survive in the competitive industry.
It is the characteristics of the company that gives it an edge over others.
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Here students need to be careful and write within the context of a particular, industry or company as per the needs and requirements of the given guidelines by the professor. WEAKNESSESThe weakness of the company is what they lack internally, which makes them prone to threats from outside sources.
Weaknesses of the company can be anywhere; it can be its patents, production cost, production system, debts, liabilities, lack of quality resources, supply chain network, distribution system, marketing, human resources, or values and even at times the mission and vision of the company.
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ExternalOPPORTUNITIESOpportunities are elements in the business environment that can be used for reaping profits and growth in the industry.
This can be a new market, untapped customers, new methods of production, new technology, international trade and even government regulations Free company analysis papers, essays, and research papers. Armour announced their purchasing of “Map My Fitness”, which is a fitness technology company .
These are the factors that should be kept in mind while analysing a chosen or given company by your professor for the analysis.
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These factors can be a change in government regulations, fluctuations in currency, economic turmoil (inflation or recession) change in consumer’s taste or preference, increase in taxes, discontinuation of the use of technology and so forth. Above all the biggest threat is from the competitors dealing in the homogeneous and heterogeneous industry.
Likewise, it is always advisable to study the industry in which the company is dealing in, its rules and regulations, and the political and economic factors for identifying threats.
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