SWOT

SWOT

• 1.
  IGCSE Business Studies SWOTAnalysis
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  IGCSE Business Studies Whatis SWOT….. Stands for strengths, weaknesses, opportunities and threats SWOT YOU…….. You are required to carry out a SWOT analysis of yourself You need to explain what are your…… Strengths Weaknesses Opportunities Threats
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  IGCSE Business Studies SWOT Amethod for analysing a business, and its environment Often used in strategic planning Looks at…… Internal strengths Internal weaknesses Opportunities in the external environment Threats in the external environment
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  IGCSE Business Studies SWOTAnalysis aims to discover… What the business does better than the competition What competitors do better Whether it is making the most of the opportunities available How a business should respond to changes in its external environment
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  IGCSE Business Studies SWOTGrid STRENGTHS (internal) WEAKNESSES (internal) OPPORTUNITIES (external) THREATS (external)
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  IGCSE Business Studies S….. Forexample: A strength could be: Your specialist marketing expertise. A new, innovative product or service. Location of your business. Quality processes and procedures. Any other aspect of your business that adds value to your product or service.
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  IGCSE Business Studies W….. Aweakness could be: Lack of marketing expertise. Undifferentiated products or services (i.e. in relation to your competitors). Location of your business. Poor quality goods or services. Damaged reputation.
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  IGCSE Business Studies O……. .An opportunity could be: A developing market such as the Internet. Mergers, joint ventures or strategic alliances. Moving into new market segments that offer improved profits. A new international market. A market vacated by an ineffective competitor.
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  IGCSE Business Studies T….. .A threat could be: A new competitor in your home market. Price wars with competitors. A competitor has a new, innovative product or service. Competitors have superior access to channels of distribution. Taxation is introduced on your product or service.
• 10.
  IGCSE Business Studies Issuesthat could affect the Businesses You are required to produce a SWOT analysis Once you have done this you need to decided what issues would be an opportunity or a threat to businesses and what type.