Some considerations on SWOT analysis in business planning.
Dear readers, an important tool for business planning, according to Koontz (2008), is the SWOT analysis, Strengths, Weaknesses, Opportunities and Threats, this tool is commonly used to evaluate internally and externally each of the aspects with which the companies are related, the strengths and weaknesses refer to the company and its products, while the opportunities and threats are external factors over which the company has no control.
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In that sense, in order to have an excellent planning, companies analyze the possible threats to develop strategies to compensate the situation and logically reduce the impact it may cause and bring with it certain weaknesses, i.e. the organization must be aware of the threats to effectively take advantage of the strengths and opportunities.
The SWOT analysis as a planning technique in the company, will provide valuable information from people involved in the management of the business and that with their knowledge can provide ideas for the future of the company, the experience and creativity of the people involved in the diagnosis is a fundamental part of the analysis process because, while some may go unnoticed some situations, for others it would be a great opportunity to develop some strategies.
In this same order of ideas, Cano (2017), points out that to perform the internal diagnosis of the company, it is recommended to use a brainstorming with what is considered threats, of course in this diagnosis must be involved people who know the company in depth, ideas can arise by inquiring about the administrative, managerial, financial technological, human talent and competitive capacity.
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After performing the respective diagnosis, the information must be systematized, using matrices, where the impact of possible threats on the internal capacity of the company is classified. Some authors point out that they can be classified according to the level of importance, from the least important, which would represent a zero in the diagnosis, to the most important, which could be represented by a 10 in the diagnosis.
Dear readers, after collecting the information with the diagnosis, we proceed to elaborate a SWOT matrix where the information on the development of the company must be collected in a systematized way and interpreted. This information will allow the management of the company to take the most viable and appropriate strategies to take advantage of the strengths to significantly reduce the weaknesses and threats.
| Bibliographic references |
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Cano, C. (2017). Administration and the administrative process. Universidad Jorge Tadeo Lozano: Bogota.
Koontz, H. (2008). Management from the perspective of global and entrepreneurial. Mexico City: McGraw-Hill.
Greetings friend @amestyj certainly this practice to detect our Strengths, Weaknesses, Opportunities and Threats can be applied to both the business sector and our personal life, defining each aspect of it, allowing us to approach success. Excellent delivery, greetings
Greetings dear friend, applying this fundamental tool in business and projects, will allow us to manage on the right track to achieve the objectives set.
See you later brother, have a great start of the week.
Greetings friend @amestyj, to perform a SWOT analysis at the enterprise level is essential, because this type of analysis will undoubtedly help to make important decisions around our company, knowing what are our strengths and opportunities will provide a better vision of our company.
Greetings dear @carlir, thank you for leaving your point of view and experience in the area, without a doubt, performing a SWOT analysis is fundamental for any company, since it allows us to detect our potentialities, weaknesses and of course opportunities.
See you later brother, have a great start of the week.
hello @amestyj
This is something very basic, but we should not underestimate its potential. A SWOT analysis of any project will definitely give us a great possibility to have a clearer vision of the issue, it is the reality, and obviously it will let us see more possibilities.
Greetings @josevas217
I completely agree with you, the SWOT analysis is a fundamental tool to make a detailed x-ray, describing the good and the bad, but most importantly it will always throw opportunities to move forward with what we want.
See you later, have a great start of the week.
Greetings friend @amestyj, an excellent topic that you share with us regarding the SWOT analysis, to determine the strengths of our business, new investment opportunities, as well as the possibilities of improving our weaknesses, this is a topic that every entrepreneur should take into consideration when evaluating your business, it is of great relevance the information you share, greetings.
Hello my dear friend @chucho27, thank you for always leaving your valuable comments and your accurate opinion on these administrative and accounting issues. As I mentioned in other comments, the SWOT analysis allows us to observe in detail relevant information about how a company is progressing and the projects we want to execute.
See you later brother, have a great start of the week, blessings to your family.
Hello friend @amestyj, it is a very interesting topic the SWOT analysis to perform an optimized business planning.
Greetings my dear friend and thanks for sharing.
Hello friend @carlos84, you yourself mentioned the importance of SWOT analysis, which lies in making optimal decisions to improve the operation of companies or channel any project you want to run.
See you later brother, have a great start of the week.
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