Third week report

I learn about swot analyse tool

SWOT is an acronym for “strengths,” “weaknesses,” “opportunities” and “threats,” key
elements in strategic planning. A SWOT analysis looks at these areas of an organization,
team, department or other business structure to make decisions about business development
and continuous improvement activities. Most commonly used in business, SWOT analysis
can also be applied to personal planning in almost any area, such as finances, a career or
education.

Assessing Capabilities

1. One of the main purposes of a SWOT analysis involves assessing capabilities.

Reviewing strengths and weaknesses creates a base from which to plan for
improvement and to capitalize on what is being done well. If a company has a
strong, well-trained, dedicated sales staff, it may not need to use a lot of resources to
develop sales and can improve other weaker areas of the business. A SWOT
analysis would show the sales force as a strength. Weaknesses are usually easy to
identify but difficult to prioritize. A SWOT analysis of weaknesses lists each
weakness, such as threats from competitors, legal compliance issues, and cash flow
problems, along with reasons for the weakness and possible improvements to
mitigate or eliminate them.

Benchmarking

1. A very efficient tool commonly developed through SWOT analysis is

benchmarking. Also called dashboarding or scorecarding, benchmarking is a
tracking system to gauge improvement in mission-critical areas identified with the
SWOT analysis. Benchmark areas report the month-to-month and year-over-year
figures or status of areas in need of improvement to demonstrate progress and
highlight obstacles. A restaurant’s benchmarks might include staff-to-customer
ratios during peak business hours, the monthly cost of produce and raw food and the
cost of advertising -- areas that require effective management for successful
restaurant operations.

Reality

1. SWOT analysis creates a snapshot of the reality of the situation being examined.
The simple act of listing strengths, weaknesses, opportunities and threats documents
what is really going on and creates a realistic bigger picture. For example, you may
feel comfortable with your personal finances, but a SWOT analysis of your finances
may reveal details about your total assets, available cash and credit standings that
prompt action such as increasing savings or limiting credit purchases. The same is
true in business. SWOT analysis provides better control initially and in further steps
by examining and improving processes and practices.
Worked
1. I search about swot analyse in google
2. I fill all data in excel about the company
3. Finally I analysed the companies strength, weakness, opportunities and threats.