{"id":3466,"date":"2022-12-16T09:03:16","date_gmt":"2022-12-16T09:03:16","guid":{"rendered":"https:\/\/ctsvietnam.vn\/what-is-swot-analysis\/"},"modified":"2023-01-05T04:28:46","modified_gmt":"2023-01-05T04:28:46","slug":"what-is-swot-analysis","status":"publish","type":"post","link":"https:\/\/ctsvietnam.vn\/en\/what-is-swot-analysis\/","title":{"rendered":"WHAT IS SWOT ANALYSIS?"},"content":{"rendered":"

A business strategy and decision making process are largely influenced by marketers. Understanding the environment that a business will operate in is one of the first steps should be inducted in their research.<\/em><\/p>\n

SWOT<\/strong>\u00a0analysis is a strategic planning technique that was first introduced in the 1960s, with many experts crediting its origin to Albert Humphrey at the Stanford Research Institute.<\/em><\/p>\n

The word itself is an acronym that stands for\u00a0Strengths<\/strong>,\u00a0Weaknesses<\/strong>,\u00a0Opportunities<\/strong>\u00a0and\u00a0Threats<\/strong>, and is a planning tool used by organizations all over the world to provide better insight of their position on the current market as well as its potential growth.<\/em><\/p>\n

SWOT\u00a0<\/strong>analysis, in its simplest form, consists of 4 main categories and reflects how they impact upon a business.<\/p>\n

In theory,\u00a0strengths<\/strong>\u00a0and\u00a0weaknesses<\/strong>\u00a0are considered to be internal matters- reputation, location and staff qualifications, for example; while\u00a0opportunities<\/strong>\u00a0and\u00a0threats<\/strong>\u00a0are components that are external to the team and cover influences like competitors, suppliers and prices.<\/p>\n

Due to the shifting nature of most markets, it is an essential practice for companies to use a SWOT analysis at least once every year, as this helps them to spot how and where their focuses\u00a0need to be fixated on in order to remain competitive.<\/p>\n

The technique, however, isn\u2019t limited to existing businesses but also is considered by new enterprises as part of all their initial planning routine.<\/p>\n

When it comes to examine the analysis itself, the most common approach is to engage a group of stakeholders, all of whom have distinctive perspectives on the running of operations. By this, an organization is able to gain a well-rounded view of the whole landscape it is conducting in.<\/p>\n

During the process, those participants tend to fill out a basic \u201cfour-square\u201d template that clearly details each of the\u00a0SWOT<\/strong>\u00a0elements. These will be compared across the group and reviewed before a finalized document is created that highlights the points raised in each section.<\/p>\n

With this solid background, a company can start to create short or long term strategies to not only avoid any obstacles that might happen, but also control on any areas that may escalate.
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To find out more and master this technique to apply in your strategy, book onto our management training course\u00a0here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SWOT analysis, in its simplest form, consists of 4 main categories and reflects how they impact upon a business.<\/p>\n","protected":false},"author":1,"featured_media":2500,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"footnotes":""},"categories":[38],"tags":[],"class_list":["post-3466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events"],"acf":[],"_links":{"self":[{"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/posts\/3466"}],"collection":[{"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/comments?post=3466"}],"version-history":[{"count":3,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/posts\/3466\/revisions"}],"predecessor-version":[{"id":3810,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/posts\/3466\/revisions\/3810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/media\/2500"}],"wp:attachment":[{"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/media?parent=3466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/categories?post=3466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ctsvietnam.vn\/en\/wp-json\/wp\/v2\/tags?post=3466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}