Conduct a SWOT Analysis
What is a SWOT analysis?
A SWOT analysis is commonly used in business to help a company identify current assets and areas for improvement. They include:
· Strengths
· Weaknesses
· Opportunities
· Threats
SWOT: Marketing Plan Tool (02:34)
SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.
Recommended Resources
We offer a few resources that provide SWOT reports on select companies. Not all companies will have a report. Since these reports are a compilation of an analyst’s opinion, you should create your own analysis with other information you find.
· Business Insights: Global SWOT Reports
· Business Source Complete: SWOT Analyses
· ABI/INFORM Collection
Creating Your Own SWOT Analysis
Regardless of whether you have found a prepared SWOT report, you will want to supplement the information with other sources and create your own SWOT analysis. Here are some tips for gathering more information and creating your own SWOT report:
· Contact the company, if possible. Explain you are a student researching the company for an academic paper. Offer to sign a non-disclosure agreement. You might be surprised! If your company is a small private firm, secondary sources of information may be scarce and this may be the only way to get information.
· Look at the company’s competitors. Use the company’s NAICS code to find its competitors by industry and consider:
· How it differentiates itself from the others?
· What are your company’s competitive advantages?
· What services and products do its competition provide?
· Read the reviews. Search the company site and third party reviews for mentions of the company. Keep in mind that customer reviews can be unreliable and biased; however, consistently positive or negative reviews should be considered.
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Make a SWOT analysis.
What exactly is a SWOT analysis?
In business, a SWOT analysis is widely used to help a corporation identify present assets and opportunities for improvement. They are as follows:
Advantages
Deficiencies
Possibilities
Dangerous situations
SWOT Analysis: A Marketing Planning Tool (02:34)
SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. Internal influences include both strengths and limitations. Opportunities and threats are external factors.
Recommended Resources
We offer a few resources that provide SWOT reports on select companies. Not all companies will have a report. Since these reports are a compilation of an analyst’s opinion, you should create your own analysis with other information you find.
· Business Insights: Global SWOT Reports
· Business Source Complete: SWOT Analyses
· ABI/INFORM Collection
Creating Your Own SWOT Analysis
Regardless of whether you have found a
