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Analyzing your business SWOT analysis:

A business SWOT analysis is a simple, but most important tool in strategic planning. It is used to evaluate company’s strengths, weaknesses, opportunities, and threats. It is necessary that the information you your business SWOT analysis contains should be realistic. It is essential to create a clear objective for your business SWOT analysis, before submitting it in front of your investors or management team.

Author: Adil Rehman
Date: Jan 25, 2010 - 7:47:48 AM

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A business SWOT analysis is a simple, but most important tool in strategic planning. It is used to evaluate company’s strengths, weaknesses, opportunities, and threats. It is necessary that the information you your business SWOT analysis contains should be realistic. It is essential to create a clear objective for your business SWOT analysis, before submitting it in front of your investors or management team.
Analyze your internal attributes:
List down all the points that you think are important. You have to analyze deeply and for this it is necessary to list as much attributes as you can.
Analyze your internal attributes (strengths, weaknesses) and external factors (opportunities, and threats):
Strengths are those factors that help you in achieving your desired goals and objectives, weaknesses on the other hand, are those factors that are harmful to your business goals and objectives; opportunities are external attributes, like strengths, which are helpful to accomplish your objectives, while threats are the external factor that harmful for your objectives and goals.
Analyze your SWOT matrix:
After listing the strengths, weaknesses, opportunities, and threats, now it’s time to go through these listed categories. Check if you have listed all the attributes or not. Remove what you think is irrelevant and unrealistic and can affect your business. Only list those objectives, which you think can be achievable by you. Your aim is to convince decision makers that all the objectives, which you have listed, must be achievable by your company.
Significance:
An analysis of strengths, weaknesses, opportunities, and threats develops a strategic outlook that contains the competitive landscape and current market conditions.
Business SWOT analysis tips:
• Be comprehensive: This means, be very careful in picking up data for SWOT analysis. Don’t forget to pick up small details, by considering them useless.
• Be prepared: Be realistic in gathering and putting information in SWOT analysis chart.
• Test your analysis: It’s better to do a team work; this way you will be able to add better ideas in your chart.
• Review the analysis: Review your SWOT analysis time to time, in order to up-to-date it with respect to time and changing trends. 

 

·   BizPlanCorner.com provides high quality and professional SWOT analysis service. For customized SWOT analysis, please visit: SWOT Analysis

·   Company SWOT Analysis

 

View all articles by Adil Rehman

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