What is SWOT analysis?
Companies must understand the changes in their business environment, in order to achieve business goals. SWOT analysis is commonly used enterprise strategic decision. In strategic planning, SWOT should be seen as a common analytical methods, the power - competitive strengths, weaknesses - weaknesses, opportunities and threats.
Advantages and disadvantages of the company (product) of internal factors, factors that affected the quality of products, materials, personnel, machinery, channels and services. Opportunities and threats are external factors that the company (product) of the affected market, economic, and social policy. Advantages of the SWOT analysis to guide the organization identify the product, weaknesses, opportunities and threats. Only better understand yourself, understand the opponent, to understand the environment in order to faster and better maintain the adaptability to change and responsiveness.
SWOT analysis at a glance
The following figure shows a simple example of SWOT analysis.
SWOT analysis - key concepts
Internal factors - strengths and weaknesses
● advantage: the company beyond the capacity of competitors, or companies improve the competitiveness of the unique advantages.
● Disadvantages: Compared to the competition, poor corporate performance or failed to show good areas, compared with its competitors at a disadvantage.
You can analyze the advantages and disadvantages of the product through the following points:
SW analyzed and compared the major internal environment analysis products and competing products in the following possible areas: quality, price, process, capacity, sales / service
quality
● product quality and safety, stable, reliable, beautiful, applicability, durability and economy.
price
● the same level of production costs, sales costs, service costs and selling prices (product profitability).
Process (production, efficiency, delivery)
● production, productivity, overall efficiency, output per capita value added and the number of deliveries.
● product development / production technology (product technology and manufacturing technology)
● new product design and development capabilities, the development cycle, patented technology, know-how and technological innovation.
ability
● Experts: experienced and excellent management personnel, technical personnel, excellent management and technical team, the young / enthusiasm.
● equipment: Efficient production line, modern high-precision production equipment, testing equipment.
● Material: excellent supplier team, first-class supply chain, stable high-quality, low-cost material supply.
● Method: advanced management methods, management systems, barrier-free information (acquisition priority information than other opponents)
● Measurement: advanced measuring instruments, methods of measurement science, complete quality control system.
Sales service
● Sales: strong sales network, excellent sales team, a wealth of sales experience and skills, the ability to respond to market changes and flexible, excellent brand image, brand value and market acceptance, good customer relations, loyal customers.
● Service: improve the service system, quality of service, satisfied customer base.
External factors - opportunities and threats
To adapt to the market and the environment, we must constantly improve themselves. In order to adapt to the changing environment and to avoid combat with the Red Sea, the product must be iterative upgrade, in order to maintain the company's competitiveness. :
· Opportunity: The product has an absolute advantage in a particular field. In this area, the product has a strong competitive opportunities.
Threats: unfavorable factors in a particular environment for product development. If you do not take decisive strategic action, this negative trend will lead to the weakening competitive position of the company.
How to conduct a SWOT analysis?
1: Targeting SWOT analysis
2: Make the necessary research for your business, industry and market
3: Make sure your business advantage
4: Find the weaknesses of your business
5: Make sure your potential business opportunity
6: identify potential threats to your business
7: develop strategies and actions to address the problem of SWOT
8: The order of priority action taken as the implementation plan
SWOT analysis examples
The following figure shows the advantages and disadvantages of the renewable energy market analysis example of SWOT.
SWOT analysis in the visual paradigm
Let's see how to perform SWOT analysis in Visual Paradigm. Here we will use a simple example of SWOT analysis. After completing this tutorial, you can extend the example. :
1: Select Diagram> New from the main menu.
2: In the New Diagram window, select SWOT Analysis and click Next.
3: You can start with an empty map, SWOT analysis can also provide templates or start SWOT analysis examples. Let's start with a blank map. Select "Blank", then click "Next".
4: Enter the name of the SWOT analysis model, and then click "OK".
5: Drag and drop shape SWOT analysis chart from the chart on the toolbar.
6: Edit SWOT Analysis accomplished by InfoArt shape. Click SWOT analysis of the shape to appear InfoArt shape.
7: start typing in InfoArt in.
This is the ultimate SWOT analysis:
