A SWOT analysis is a study undertaken by an organization to identify both the internal strengths and weaknesses and the external opportunities and threats. In business, a SWOT analysis is typically used as a method to identify a new venture or strategy. It is impossible to map out an organization\’s future accurately without first evaluating it from all angles, including a comprehensive review of all internal and external resources and threats. A SWOT analysis accomplishes just this.
A SWOT analysis is not only a strategic management tool, but also a great strategic measurement metric. The point of a SWOT analysis is to help an organization develop strategy and ensure it has considered all its strengths and weaknesses, as well as the opportunities and threats it faces in the business environment. In this discussion, you will conduct a SWOT analysis. Here is an example of a SWOT analysis conducted on a restaurant.
Example of a SWOT analysis performed on a restaurant. Strengths include location, uniqueness, and strong management. Weaknesses include lack of capital and lack of reputation. Opportunities include area growth and working families with children. Threats include competition and being under prepared for opening numbers.
For this discussion activity, select an organization and create a list of this organization\’s strengths, weaknesses, opportunities, and threats.
Strengths and weaknesses could include items such as reputation or location. For example, what the organization does well is a strength, while what takes business away from this organization would be considered a weakness.
Opportunities and threats could include competitors or pricing strategy. For example, where the business can prosper is an opportunity, and what is out of the organizations control could be considered a possible risk.
In response to your classmates, compare items from your SWOT analysis to theirs. Were there similarities? Differences? Are there parallels that could be drawn between your and your colleagues SWOT analyses?
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Post a 2 to 4 paragraph discussion post (300 words minimum). Justify your explanations by including in-text citations and your references in APA format as applicable.
Post your primary response on the discussion board. Be sure to review your writing for grammar and spelling before posting. Read any postings already provided by your instructor or fellow
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