A SWOT analysis essay will be assigned to you if you are a student of business studies. SWOT analysis refers to the strengths, weaknesses, opportunities, and threats in a business. This is very important step to structure your business plan.
If you are to write an essay about SWOT analysis, you need to keep a few things in mind. The first and most important thing you need to remember is that the SWOT analysis essay is a systematic process. You need to follow gradual steps to write a strong analysis essay. Before you start writing your essay, you need to make a list of all the necessary things you will need in your paper. You need to create an outline and gather similar data together before you write your first draft.
You will need certain information to create your outline. When your outline is complete, you can start writing your essay. Start with a good introduction and explain the rest of the outline in body paragraphs. Introduce your company or brand in the first paragraph. It is important for your reader to know the background and present situation of the company to be able to understand your SWOT analysis. Do not assume that your readers will know about a certain brand because it is famous.
But, just as important as these three are, the greatest problem for business is threats — competition; regulation, compliance, etc. The best way of thinking about constraints and opportunities is to realise that good businesses will seek to turn constraint into opportunities, while at the same time building on existing opportunities.
Organisations should use their strengths such as having a good reputation, and experience in a particular field or segment of the market coupled with good marketing and resources, to build competitive advantage. In addition it is also important to be aware of the actions of your competitors. These important forces are continually in a state of flux and any business large or small, should at regular intervals carry out a SLEPT Analysis.
Before creating business plans or making decisions, it is important to 'scan' the external environment; this tool, is similar to the SLEPT analysis, be has a much greater depth and focus; that is more useful to larger businesses. This can also be achieved through a PEST analysis, i. These forces are continually in a state of change in any business.
There are many other tools for analysis that are currently being presented in academic learning and theory, but the three given here have stood the test of time, and are universally used across business and academic settings the World over. Stanley argues that a firm might require identifying the factors that deter it from gaining competitive advantage.
Further, it may require understanding the vital elements that would be lacking in comparison to its competitors and determining whether the business is located in a strategic place in the market. These positive elements can be detected by way of identifying the attractive factors that a business can benefit from in the market.
In addition, external factors for any form of growth in the market are part of opportunities. The only benefit that threats offer businesses is the fact that success can be realized by responding to threats with effective problem-solving and planning.
Threats are seen as the strong competitors in the market and are factors that reduce the profits of a business. Further, the introduction of new goods or services that tend to make the products of a business less popular in the market can be treated as a threat.
SWOT analysis Introduction In the business context, this strategy enables a business to discover its strong and weak points, thus enabling it to .
The SWOT analysis framework involves analysing the strengths (S) and weaknesses (W) of the business’s internal factors, and the opportunities (O) and threats (T) of its external factors of performance (Ghazinoory, Abdi and Azadegan-Mehr, ).
- SWOT Analysis What is SWOT Analysis. SWOT analysis is a basic, straightforward model that provides direction and serves as a basis . Personal Swot Analysis Essay example Words | 5 Pages Personal SWOT Analysis The career objective that I have in my life is to have started my own business or be a owner of business.
SWOT Analysis Essay Posted by admin as Example papers The Scamville Controversy on Virtual Goods: SWOT Analysis of the Businesses Involved, the Ethical Side, and Future Implications. Complete SWOT Analysis: SWOT analysis, the key tool in the strategic planning process, can also be applied to life planning. A SWOT analysis focuses on the internal and external environments, examining strengths and weaknesses in the internal environment and opportunities and threats in the external environment/5(24).