What is SWOT analysis?

SWOT analysis, also known as situation analysis, was proposed by a professor of management at the University of San Francisco in early 1980s. SWOT represents four English letters: strength and weakness), opportunity (qpportunity), and threat (threat ). The so-called SWOT analysis, that is, situation analysis, lists the main internal strengths, weaknesses, opportunities and threats that are closely related to the research objects and lists them in a matrix, then, using the thought of system analysis, various factors are matched and analyzed to draw a series of corresponding conclusions, and the conclusions usually have a certain degree of decision-making.
Using this method, we can conduct comprehensive, systematic, and accurate research on the scenario of the study object, so as to formulate the corresponding development strategy, plan and countermeasures based on the research results.
SWOT analysis is often used to develop group development strategies and analyze competitors. In strategic analysis, it is one of the most commonly used methods.
SWOT analysis involves the following aspects:
I. analyze environmental factors
Various investigation and research methods are used to analyze various environmental factors of the company, namely, external environmental factors and internal capability factors. External environment factors include opportunity and threat factors. They are both favorable and unfavorable factors that directly affect the company's development. They are objective factors, generally, it belongs to different categories such as economic, political, social, population, products and services, technology, market, and competition; internal environmental factors include strengths and weaknesses. They are positive and negative factors in the company's development. They are active factors, it is generally classified as management, organization operation, finance, sales, and human resources. When investigating and analyzing these factors, we should not long consider the company's history and status quo, but also consider the future development of the company.
Ii. Construct the SWOT Matrix
Construct a SWOT matrix based on various factors such as priority or impact degree. In this process, those factors that have direct, important, large, urgent, and long-term impact on the company's development are prioritized, the indirect, secondary, a little, inurgent, and transient influencing factors are arranged behind them.
3. Develop an Action Plan
After completing the environment factor analysis and the construction of the SWOT matrix, a corresponding action plan can be developed. The basic idea of making a plan is to take advantage of the advantages, overcome the weaknesses, and take advantage of the opportunity to resolve the threat. Consider the past and focus on the future. Using the integrated analysis method of system analysis, we can combine the arrangement and various environmental factors, and draw a series of feasible countermeasures for the future development of the company.

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