Discussion: SWOT Analysis
What are the results of your SWOT analysis (use place of employment - hotel) ? What can you do to preserve and maximize your strengths, realize your opportunities, overcome your weaknesses, and neutralize your threats? What if anything can you do to turn your threats into opportunities?
Review the SWOT Model to Analyze Data
A SWOT analysis is the process of listing as many items as possible that impact a business, and categorizing them in terms of these divisions:
Strengths
Weaknesses
Opportunities
Threats
Strengths and weaknesses are measures of internal factors, whereas opportunities and threats usually are external items outside of a company's direct control. Carrying out an analysis using the SWOT method helps you to focus on areas where your business is strong, and also helps you to identify future areas of concern. Environmental scanning, as defined in topic three, helps to identify external opportunities and threats, and fits into the SWOT framework well. A SWOT analysis is simple in principle, yet it helps to define and isolate key issues, as well as to promote clear strategic planning.