How can a complete SWOT help a company succeed?

How can a complete SWOT help a company succeed?

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A SWOT examines the quality process of an organization through the lens of strengths, weaknesses, opportunities, and threats (Keegan & Green, 2020). SWOT, according to Minksy, is not a diagnosis or an analysis but a list of internal and external factors typically resulting from a brainstorming meeting that projects a snapshot of the current situation the attendees are experiencing (2021). However, SWOT is still an excellent tool for planning. A SWOT analysis comprises two categories that can be broken down into external and internal. Externals are considered attributes of the surrounding environment, and internals are the company’s attributes. The analysis includes enumerating the strengths and opportunities considered helpful components in achieving the company goals. On the other hand, the weakness and threats are components that can potentially hinder accomplishing company objectives. By understanding these four components, a complete SWOT will improve a company’s success rate by enabling the business to bolster its strengths and improve on known flaws. It will also have a high-level view of the shifting markets and reduce risk by defending against known threats. A complete SWOT will allow a business to measure progress and provide a big picture of where the company stands.

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Reference

Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com (3), 672. https://doi-org.proxy- library.ashford.edu/10.1017/s0022381613000509

Minsky, L., & Aron, D. (2021). Are You Doing the SWOT Analysis Backward? Harvard Business Review Digital Articles, 1–6.

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In 150 words or more, what information or detail is important to add to a SWOT analysis in general?

How can a complete SWOT help a company succeed?

How can a complete SWOT help a company succeed? These thoughts should be qualitative and generic – not discussing/providing specific applications of how you may have gleaned competitive advantage (e.g., listing the SWOT components applicable to Hisco).