What is SWOT analysis ❓ why businessmen need to analyze

What is SWOT Analysis?

SWOT Analysis is an organizational capability and potential analysis tool. For self-acquaintance, SWOT stands for Strengths Weaknesses, Opportunities, and Threats. It is divided into internal assessments, which are business strengths (Strengths), business weaknesses (Weaknesses), and external factors are assessed. business opportunity (Opportunities), risks and obstacles of business (Threats) for planning to optimize business and develop a truly comprehensive organization.

🔹 Principles of SWOT analysis with controllable internal factors

S: Strength

is the strength or advantage of the organization arising from the internal environment of the organization which must be something that competitors in the market can be difficult to imitate and have a positive effect on the business of the organization such as running a business selling products online Your strength is You are proficient in using social media. Understand the use of various platforms well, have funds ready to buy stock Thus, starting an online business without having to pay for additional courses.

W: Weakness

are weaknesses, drawbacks or defects that arise from the internal environment of the organization that negatively affect the business of the organization which is what the organization must find a solution to the problem Those shortcomings, such as doing business selling products online. Your strength is You are proficient in using social media. Understand how to use various platforms well, have funds that are ready to buy things, and stock so that you can start an online business without having to pay for additional courses.

O: Opportunity

is an organization's business opportunity which is an environment outside the organization that is beneficial to the business of our organization, such as the Covid-19 epidemic that has made online businesses thrive. due to quarantine As a result, customers turn to order consumer products online.

T: Threats

are risks, limitations or obstacles of the organization or may occur to our organization which is the external environment that negatively affects the business of the organization, such as hoarding in large quantities. for sale online in But when the trend or demand changes, the product becomes a stock item. causing the need to expedite the discharge of the product at a break-even price or lower than the cost itself

🔹Benefits of SWOT Analysis?

In addition to the benefits that allow us to know the strengths, weaknesses, opportunities and obstacles of the organization. After we can analyze and identify all SWOT of the organization. The next step is to match the SWOTs we have listed to determine the proactive strategy (S+O), the corrective strategy (W+O), the defensive strategy (S+T), and the defensive strategy (W). +T) Next, also known as TOWS Matrix capture strategy that SWOT analysis is also a planning in doing business. enabling more efficient business operations

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