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SWOT analysis is not an unheard term in today’s scenario. The term is mostly used in the context of a corporate organization and business dealings. The term was introduced to be used in a business context, but gradually, it has been brought into use by the academic professionals for the personal analysis of students also. SWOT Analysis, as the abbreviation stands, is a technique to know your strengths and weaknesses, and thereafter finding the opportunities you have in hand and the Threats that you may face.
Meaning of SWOT Analysis
SWOT is an interesting way for the students of self-analysis to improve themselves. SWOT analysis can be expanded as the analysis of
- Opportunities, and
SWOT analysis can help you in achieving your targets successfully by making the best utilization of your resources. SWOT tells you about yourself and the loose corners on which you need to work for perfection. You need to know yourself and your circumstances better to walk along your path towards success.
The need for SWOT Analysis
You must know why you need to do SWOT analysis. The importance of SWOT will tell you how much and to what extent is SWOT required.
- To discover possibilities for new ways for solving the problems.
- Make correct decisions as to which way you should go after exploring your opportunities
- Get clearer directions and choices considering the threats involved in the work plan.
- Make the relevant change in plan as per the priorities and possibilities defined by your strengths and weaknesses
- Keep room for mid-way modification in work plan if you come across any new and better opportunity for successful completion of your task.
Analysis through SWOT
At first, fix your target and chalk out your plan to achieve it. Following that, analyze the SWOT in your plan of work. For SWOT analysis, draw your SWOT for your work plan which consists of a square divided into four smaller sections, having two sections on the left and right sides inside the square respectively. The four sections are named as Strengths, Weaknesses, Opportunities and Threats.
Once you have the SWOT sheet, write down your strengths, weaknesses, opportunities and threats related to your work plan in the box based on some pointers and questions, as given below:
- Strengths: Jot down your strengths modestly according to the work plan. If you are not fully aware of your strengths, the following pointers may help you in getting the right answers. Try them:
- Name the resources which you can utilize to the best.
- Find out if you can rely upon skills and certifications and stay ahead of others.
- Find out whether you are present in the network while your acquaintances are/ not.
- Know the things that you are good at, like writing plans, expressing thoughts, solving problems, or explaining the things to others, etc.)
- Weaknesses: Next what you need to write are the weaknesses which you possess. You have to be honest in writing your weaknesses. That is the way to find your drawbacks and improving yourself. If you are not truthful to yourself, you cannot stand straight on your road to success. If you are finding it hard to pen them down your shortcomings, use the following pointers to fill the answers therein.
- Find out the personality traits you have that are keeping you from reaching the targets.
- Analyze the areas which need to be improved.
- Write about the things which you avoid doing because you do not have the confidence of completing the task.
- Write what you find difficult to face.
- Write down which weakness you find extremely difficult to overcome.
- Opportunities: Having finished writing your weaknesses, you should count and write your opportunities. Opportunities knock at your door once and you need to open the door immediately to grab them. You should be fully aware of the opportunities which may come your way and which ones you should avail. It is an easier section to fill in the SWOT chart, yet you may take help of the following pointers. Ask yourself these questions and find the answers:
- Do you have sufficient growing opportunities in your field of interest, as per your work plan?
- What all opportunities can be good for the task?
- Are you connected with your friends/colleagues/ acquaintances or active in social networking, such that you can get their help?
- Will your connections get ready to work for you and how many of them will work according to your plan?
- If you are not able to get enough help as you had planned, how much work can be completed?
- Do you have any other field of interest which can steer you to success by another way of work?
- Threats: Cutting down on threats, this is a very important section before you set to work. A person should be well aware of the things which can lead to failure. If you know the threats or the risks involved in your work plan, you can have a second plan or a backup plan to prevent failure. Some of these questions may help you in citing the threats :
- Are you prepared to face any challenge in your work?
- If yes, what all difficulties in the initial phase of the task?
- What are the problems you face for which you need the support of others?
- Are you sure of getting help from the person whom you believe?
- Can any upcoming software be a substitute for the work done by you?
Livewebtutors help students with their SWOT analysis assignment help by accumulated the above points from its experience with the students and professionals. Having completed the SWOT chart, you will get to know about your circumstances and yourself better which is absolutely important before you head towards a task. Based on the answers and the pointers you can make changes in your plan of work.
As there is no short cut to success, the longer way is to know all about yourself. Once you know that, the work plan can get clearer and you will get the right direction to chalk out a fool-proof plan. Practice SWOT analysis and get the best outcome for your business plan. Gather your strength, and reduce your weaknesses to explore and avail your opportunities and keep a backup plan for the threats. Livewebtutors wishes you success in your career. Success is not a cakewalk. You need to toil hard. We hope our experiences will help you in your struggles to success.