SWOT Analysis : Notes, Common Exam Questions and Answers Guide, Online Quizzes and Activities for Business Studies Grade 12 Revision Studies, from Macro Environment: Business Strategies section. This content is under Term 1 as per the CAPS Curriculum.
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SWOT Analysis Business Studies Grade 12
What is SWOT Analysis
Definition: SWOT analysis is a tool used by organizations to identify their internal strengths and weaknesses and external opportunities and threats. It is a simple yet effective way to evaluate the organization’s current situation and develop a strategic plan.
The steps involved in a SWOT analysis include:
- Define the objective: Determine what aspect of the organization you want to analyze and the purpose of the analysis.
- Identify strengths: List the internal factors that give the organization an advantage over others. For example, a company may have a strong brand reputation, skilled employees, or a loyal customer base.
- Identify weaknesses: List the internal factors that give the organization a disadvantage compared to others. For example, a company may have outdated technology, a high employee turnover rate, or poor financial performance.
- Identify opportunities: List the external factors that may benefit the organization. For example, a new market opening up, favorable government policies, or emerging technologies.
- Identify threats: List the external factors that may harm the organization. For example, increased competition, changes in customer preferences, or economic downturns.
- Analyze the SWOT: Evaluate the information gathered in the previous steps and identify areas that require further attention.
- Develop a strategic plan: Based on the analysis, develop a plan to address the identified strengths, weaknesses, opportunities, and threats.
Examples of SWOT analysis in business include:
Here are some examples of SWOT analysis in business:
- Example One:
- Strengths: Strong brand recognition, talented employees, efficient production processes.
- Weaknesses: Limited product range, high employee turnover, lack of financial resources.
- Opportunities: Growing market demand, favorable government policies, strategic partnerships.
- Threats: Increased competition, changing consumer trends, economic downturns.
- Example Two:
- Strengths: Innovative products, strong financial position, loyal customer base.
- Weaknesses: Limited market share, lack of diversification, low employee morale.
- Opportunities: Growing demand for eco-friendly products, expanding into new markets, new distribution channels.
- Threats: Intense competition, changing regulatory environment, economic instability.
- Example Three:
- Strengths: Highly skilled workforce, strong intellectual property, efficient supply chain.
- Weaknesses: Limited global presence, high production costs, outdated technology.
- Opportunities: Increasing demand for technology-based solutions, strategic partnerships, expanding into emerging markets.
- Threats: Intense competition from established players, changing government regulations, economic uncertainty.
- Example Four:
- Strengths: Established customer base, diversified product portfolio, strong financial performance.
- Weaknesses: Limited innovation, outdated marketing strategies, low employee engagement.
- Opportunities: Growing demand for online sales, expansion into new geographies, strategic acquisitions.
- Threats: Increasing competition from e-commerce giants, changing consumer preferences, economic slowdown.