SWOT analysis of a company: what is it and how to conduct it - image 3
The main area of using SWOT analysis is to evaluate the activities of a commercial enterprise. The main goal is to determine actions aimed at ensuring stable business development, taking into account four groups of factors. But studying the activities of companies is far from the only example of SWOT analysis. This concept can also be used to study:
characteristics of specific products and services – their advantages, disadvantages, conditions for improvement or deterioration of performance;
the properties of a person’s personality – their strengths, weaknesses, what external events and phenomena can influence them positively or negatively;
promising areas for training, employment – pros and cons of italy cell phone number list activity segments, political and economic factors for improving or worsening the situation in them.
In general, a SWOT analysis with a matrix of opportunities for improvement can be carried out in relation to any object for which it makes sense to determine the strengths and weaknesses, as well as the factors influencing the deterioration or improvement of the state of this object.
Advantages and disadvantages
The main strengths of SWOT analysis:
clarity, systematicity – the relationship between different factors is visible;
identifying key problem areas of the facility and defining specific actions for improvement;
ability to identify the most positive areas – can be important when deciding whether to invest in a company or to lend to it.
There are also weaknesses of SWOT analysis:
lack of mandatory verification of data for accuracy, which means that the analysis may be based on false input data;
labor-intensive when forming a list of factors – it requires the involvement of specialists from different fields;
inability to predict change.