Discussion 7

SWOT analysis is the process of analyzing a firm’s internal strengths and weaknesses and analyzing the opportunities and threats that are posed by the external environment. The purpose of the SWOT analysis is to enable a firm to set its position to take advantage of particular opportunities in the environment and to avoid or minimize environmental threats.

The following questions may help you identify the SWOT. Again, the questions are only for your references. Do NOT copy and paste and try to answer each question in your essay.

Internal Environmental Analysis: - Strengths and Weaknesses

· Do they have good competitive skills?

· Can they access to economies of scale?

· Do they have cost advantages?

· Do they have competitive advantages? What kind?

· How can they gain market image?

· The following variables can also help you in determining their internal strengths or weaknesses: product costs, marketing skills, financial resources, image, and technology.

External Environmental Analysis: - Opportunities and Threats

· How likely it is for new competitors to enter the market?

· How likely it is for the chosen company to enter new markets or segments?

· How can they fulfill their broad range of customer needs?

· How diversify their related products is? Growing competitive pressure?

· How fast the market growth is? Changing buyer needs and tastes?

· The following variables can also help you in determining the chosen company’s external opportunities and threats: social factors, demographic factors, economic factors, technological factors, political/legal factors, and competitive factors.

Q1. Perform a mini-SWOT analysis on your company (currently or previously work for) by identifying two strengths, two weaknesses, two opportunities, and two threats. In your initial post, you need to make a 2x2 table to highlight the key elements of your company’s mini-SWOT and then explain those elements in a separate paragraph. Briefly discuss how can your firm enhance the SO and minimize the WT?

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