5055-Week6_Lecture_SWOTAnalysis_Design2007

5055-Week6_Lecture_SWOTAnalysis_Design2007 - Lecture: SWOT...

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Lecture: SWOT Analysis Professor Forrer Businesses do poorly for a variety of reasons. The first thing that you should consider is an analysis of your operation in an effort to isolate the problem or problems. In academia we teach a basic management tool called a SWOT analysis. In this case it is a perfect approach to analysis of your concerns. The term stands for strengths, weaknesses, opportunities, and threats (SWOT) and, while it is a little more complicated than it sounds, a SWOT analysis is a quick review of your organization. When analyzing your company using a SWOT analysis, the more information that you know, the better your results will be. Therefore, as you review your processes, gather as much detail about your business as possible. Additionally, you should include your employees throughout the analysis - especially your managers. In preparation of conducting a SWOT analysis, you should review all historical measurements. Items such as productivity, budgets, turnover, growth, skills, customer complaints, etc., become very important as you begin your assessment. If you are not measuring historical information, the analysis is more complicated and will not be as reliable as it would be if you have good data to base decisions on. Usually, the strengths
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This note was uploaded on 01/30/2011 for the course MAN 5055 taught by Professor Kest during the Spring '10 term at Hodges University.

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5055-Week6_Lecture_SWOTAnalysis_Design2007 - Lecture: SWOT...

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