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A history of defective products, presence of huge debts and high employee turnover are examples for major weaknesses that a company may have.Opportunities: favorable situations and factors that can strengthen competitive advantage of the business or provide the business with new sources of competitive advantage.As a result weak strengths may appear to balance strong weaknesses.
Accordingly, SWOT can be a powerful aid for senior level management to develop appropriate strategy for the business.
As a strategic analytical tool, SWOT analysis has some weaknesses as well.
It means businesses can only react to opportunities and threats and they do not have any means to influence opportunities and threats.
Strengths: attributes, characteristics and factors that give competitive advantage to the business.
For example, considerable brand value of the business, cash reserves, first mover advantage and exclusive access to unique resources are major strengths that contribute to competitive advantage of the business.
Weaknesses: attributes, characteristics and factors that weaken competitiveness of the business in the marketplace.All business students are assigned to conduct SWOT analysis, usually at the earlier stages of their studies.This page focuses on the application of SWOT analysis in a business context as a part of academic assignments This is a comprehensive SWOT resource and it contains an explanation of SWOT theory, an illustration of how to do a SWOT analysis and links to examples of SWOT analysis of major multinational brands.The most noteworthy threats faced by businesses include, but not limited to the loss of key members of workforce, increase in the prices of raw resources, patent infringement and other lawsuits against the company and others.SWOT analysis has important practical implications. Specifically, with findings of SWOT analysis in their hands, the senior level management identify and built upon their strengths, discover new opportunities and work upon eliminating or minimising threats to the business.However, the majority of educational institutions provide students the flexibility to conduct SWOT analysis of a company of their own choice.Students are often tempted to conduct SWOT analysis of their employer.You may try to secure a meeting with a senior level manager and explain practical implications of your SWOT analysis for the business.In other words, you may be able to convince a senior manager that results of your SWOT analysis may provide an important insight into the business and managers can act upon this knowledge to increase the efficiency of the business at various fronts.This portal offers up-to-date sample SWOT analyses of the most famous multinational enterprises as part of company reports.Step 2: Finding information If you are conducting a SWOT analysis of a small or medium sized organization such as your employer, family business or a company you are related to in some ways, approaching the company directly may prove to be an efficient strategy to obtain required information.