Performing a swot analysisQuite oft

Performing a swot analysis
Quite often strategic planning takes the forms of a SWOT analysis, a method of considering the strengths,weakness,opportunities, and threats in a given situation .The strengths and weakness take into account internal resources and capabilities ;opportunities and threats refer to factors external to the organization .SWOT is considered the most applicable to the early stages of strategic and marketing plainning. Elements of a SWOT analysis are included in the general planning model and in strategic inventory used to size up the enviroment. Because of SWOT's straightforward appeal,it has become a popular framework for strategic planing.The framework,or technique, can identify a niche the company has not already exploited.
Preparing for the analysis For steps are recommended to bring about a successful SWOT analysis. First , it is important to be clear about what you are doing and why. the purpose might be to fine tune a present strategy or to point the business in a new direction. Second, it is important to select appropriate contributors. select people whit appropriate experience, talent, and enthusiasm . Imaginative people are particularly useful for a SWOT analysis . usually six to ten people are enough , but involving more people can be helpful to involve more people in the changes SWOT might trigger . Third, allocate research and imformation-gathering tasks . Several members of the team might concentrate on analyzing the firm ; others might concentrate on analyzing the outside enviroment .Step four is to create a workshop enviroment by encouraging open communication among participants . All present should feel free to criticize the status quo, even questioning what most people thick is a company strength . A SWOT team member of a group at Starbucks might say , " is having so many stores such a great stregth ? Could we be losing out to the coffe lovers who want a more unique , intimate experience?"