The process of investigation conducted by any organization for finding out the internal and external condition of their business is known as SWOT. In accordance with the researchers, it is a useful technique for identifying the strengths, weaknesses and the opportunities, threats that the company is required to trigger for making their position strong.
The process can be carried out by an individual or a group suggested by the head department of the company for assessing the state of affairs in the organization. The process can be performed by means of two steps
The internal factors of the organizational environment come under the room of strengths and weaknesses these factors can be identified by using the following techniques:
If you are having a unique selling proposition for your organization than your customers would be really satisfied with you, and that will be the key strength of your company
If you find it difficult; then list down the characteristics of your organization, and the techniques that you are using for carrying out the activities.
In the process of listing the strengths of your organization compare them with your competitors. As all of the competitors are delivering standard work then this is not the strength of your company; it is not a unique factor and secondly it is the requirement of the production market.
In this process consider the characters again in accordance with the competitors. Taking other’s perception will suggest you the weaknesses that are not visible to you. Find out what your competitors are doing for handling their weaknesses.
Be realistic at this moment, and handle the horrible truths
The external factors of the organization; deals with the opportunities and threats that will come in the way by means of the competitors or other forces.
The best way of finding opportunities is to analyze the strengths and set them in a way to obtain benefits; check out the weaknesses as any opportunity can arrive by eradicating the weakness.
Make sure you have considered each and every external factor that is dealing with the performance of your company.
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