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SWOT Analytics

A SWOT analytics shows the impact internal (strengths and weakness) and external (opportunities and threats ) positive and negative can have on a company, industry, product, place or person. The definition of the SWOT analytics of a business is a planning tool used to develop a solid business strategy. It can be used for any business planning or strategics but it is most commonly used n marketing planning and when planning a new business.

Giving consideration to the company's strengths, weaknesses, opportunities and threats provide insight the can be used for strategic planning and decision making for example  a SWOT analytics can be used to decide whether or not to embark on an business venture or to discover a market niche where the company has a competitive adventure.
A through SWOT analytics involves the input of all relevant department and people (even customers) . Different perspectives are necessary for objective results. Involving employees in the business strategizing process also motivates them to achieve the business objectives.

SWOT analytics work : 
A SWOT analytics is also called a SWOT matrix because of its format. The SWOT analytics template is a square with four quadrants for each of the elements. You can download free SWOT analytics template for excel and power point from Microsoft or web.
Brainstorm (as a group or individually) and make a bullet point list of all the strengths, weaknesses, opportunities and threats. Both internal decision makes within the company and external customers and the market perspectives should be consideration when examining the strengths and weaknesses. Think in terms of the company as it relates to competitors.
After brainstorming list the factors-in the order of highest to lowest priority- under the four sections of the SWOT analytics template.
A SWOT analytics should be targeted at a  specific project or strategy to achieve specific results.

So, I found some example in web site which mentioned below for understanding.

> Strengths :
  • What do you do well ?
  • What Unique or low priced resources do you have ?
  • What are your Unique skills ?
  • What experience do you have ?
  • What is your market consider to be your strengths ?
  • Which area of business is the most profitable ?
> Weaknesses :
  • Where do you need to improve ?
  • What resources do you lack ?
  • What training and skills are inadequate ?
  • What negatively impacts your competitive adventure that you can control ?
  • What does your market consider to be your weaknesses ?
  • Which area  of business are not profitable ?
> Opportunities :
  • Which opportunities can you identify in your market or industry ?
  • What market trends can you identify ?
  • Have any recent changes in the market created an opportunity for your company ?
  • Have there been any changes tin technology that could enhance your business ?  
  • How can you create opportunities regarding exiting customers or clients ?
  • Can you reach a new target market ?
  • For how long does the opportunities ? 
> Threats :
  • What obstacles beyond your control do the business face ?
  • Who are your competitors, what are their strengths and what do the offer that you don't ?
  • Are there any changes in the economy or industry that can have a negative impact on the business ?
  • has there been an improvement in technology that renders your product or service obsolete ? 
  • Does an unfavorable development or trend have a negative negative impact on revenues ?
  • Has there been a significant change in the availability or price of raw materials ?
 How to use SWOT Analytics :
The purpose of  a SWOT analytics is to develop business strategies which maximizes positive influences while minimizing negative factors. Therefore SWOT results must be analytics to develop short and long term strategies for the business.
Basically lot of Garments have no idea or implement SWOT analytics. So, for this reason they quickly quit from business field. If any kinds of institution or garment want gain and increase there business shinning they must be implement SWOT analytics. So, here mentioned SWOT for better understanding :

  1.  Device plane to enhance strengths.
  2. List Ways to improve weaknesses.
  3. Set goals for the opportunities identified and devise a strategy to eliminate threat by using strengths.  
SWOT -TOWS Matrix :
Date collected different quadrant of SWOT analytics can also be combined to develop strategies. One way of doing so is by pairing the strengths and weaknesses with the opportunities also called TOWS Matrix to devise the following as below ref:

  1. Opportunity - Strengths (OS) - use strengths to take advantage of opportunities.
  2. Opportunity - Weaknesses  (OW) strategies - overcome weaknesses by taking advantage of opportunities. 
  3. Threat-Strength (TS) Strategies -use strengths to avoid threats. 
  4. Threat -Weakness (TW) Strategies - minimize weaknesses and avoid threats.

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