Briefly review SWOT Analysis: It\'s Time for a Product Recall, which offers a cr

Question

Briefly review SWOT Analysis: It's Time for a Product Recall, which offers a critique of SWOT strategies. Then, carefully read SWOT Does Not Need to Be Recalled: It Needs to Be Enhanced, which highlights proper ways to undergo SWOT analyses. In your own words, describe some of the key strengths and weaknesses of SWOT for evaluating and improving operations at a company. What best practices will you seek to utilize for your own SWOT analysis? What pitfalls will be most important to avoid, and how do you plan to avoid them?

Explanation / Answer

Strengths- SWOT analysis is an effective tool in analyzing the important factors that affect a business (strengths, weaknesses, opportunities and threats). The greatest advantage of using a SWOT analysis is the analysis of the overall strategic position of a company in the industry (environment). SWOT analysis helps to create a business model that aligns the organizational resources (including the organizational capacity) with that of the requirements of the external environment. Thus, SWOT helps in strategic planning, enhance the business strengths, reduce the weaknesses, make best use of the opportunities and overcome the organizational threats.

Limitations-There are certain limitations for SWOT. For example, price increase in the market, government regulations, economic environment, inputs or raw materials are factors in the external environment that cannot be controlled in a SWOT analysis. The internal limitations of the organization that act as limitations for SWOT analysis include insufficient research and development facilities, poor industrial relations, lack of skilled and efficient labor.

Best practice- Personally speaking, I would align my organizational goals with that of the SWOT analysis. I would evaluate SWOT factors (strengths, weaknesses, opportunities and threats) keeping in mind the organizational goals. This clear vision would help me to make strategic decisions to achieve the organizational goals.

Pitfalls- The major pitfall in SWOT analysis is that we tend to generalize the factors. This generalizing needs to be eliminated and every critical factor that affects the organization both internally and externally needs to be considered carefully for the success of the company.

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.