SWOT_Analysis_Article - SWOT Analysis By Stacy Collett...

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SWOT Analysis By Stacy Collett (Jul. 19, 1999) In order to swat the competition you need to understand SWOT. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. It's a way to analyze a company's or a department's position in the market in relation to its competitors. The goal is to identify all the major factors affecting competitiveness before crafting a business strategy. SWOT Breakdown SWOT identifies the internal and external factors that affect an organization. Here’s the breakdown of SWOT by internal and external variables: Internal factors (Strengths and weaknesses) A corporate structure, culture and resources Shareholders Customers Competitors External factors (Opportunities threats) Politics Technology Society Economics "It comes from an old term from the strategic planning field," says Fred Wiersema, co-author of The Discipline of Market Leaders. Marketing gurus have taken familiar terms from old "situation analysis" principles -- like core competencies (your company's main business), liabilities (weak points that need improvement), customers and competitors -- and simply given them a catchy new acronym, according to Wiersema. "The purpose of strategy is to be really clear before you take the direction. The point of a SWOT
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This note was uploaded on 01/06/2012 for the course MGMT 340 taught by Professor Haskell during the Spring '11 term at DeVry Addison.

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SWOT_Analysis_Article - SWOT Analysis By Stacy Collett...

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