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Theory on SWOT For Lesson 6
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A SWOT analysis is used to look at a Business current position.
It looks at both internal factors (from in the business) and external factors (outside the business). It’s a planning tool to help with future decisions. SWOT Analysis
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Strengths Weaknesses Opportunities Threats SWOT (acronym for)
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Strengths (Internal Factor)
What has the business been good at in the past Strengths (Internal Factor)
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Weaknesses (Internal Factor)
What has the business been bad at Weaknesses (Internal Factor)
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Strengths (Internal Factor)
Opportunities What has the business could do well at. Factors outside the business that could help Strengths (Internal Factor)
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Strengths (Internal Factor)
Threats Problems the business may face or could harm the business Strengths (Internal Factor)
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SWOT = areas to be looked at
Strengths: A basic list of possible strengths that the company does well e.g. Brand name Location People Customer Service Competition Advertising Weaknesses: A basic list of possible weaknesses that may prevent the company from achieving goals e.g. Standards Culture Training Opportunities: What overall opportunities can the company improve upon e.g. Specific Markets Local Marketing Database Website Threats: Threat represent things which are external and beyond the control of the company: Direct competition Indirect competition Technology Economic climate SWOT = areas to be looked at
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Video on SWOT
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Example SWOT analysis for Disney
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