The SWOT framework is an analytical tool which is used to analyzeany organization based on four parameters, such as strength, weakness, opportunity and threats. As a business management student, you will be using the SWOT framework quite a lot in your marketing essay. The best way to apply the model is to use a well-structured template, which not only will create a good impression, but also will help you in presenting your content in a more concise manner.
Our SWOT analysis template can prove to be quite useful for you while conducting the external and internal audit of a company. The template contains all the key points that you need to cover in each of the parameters of the SWOT framework. However, please note that this template is most useful for candidates who already have a clear understanding of what is SWOT analysis.
The SWOT analysis template shown above highlights some of the key points that you must mention in your paper. These are some of the most crucial points that you need to cover in all the four parameters. Before you can start using the template for your own college paper, let us first look at each of them individually.
Strengths: Begin by discussing about the financial performance of the company, such as its revenue generation and profitability over the past few years. Adding some statistics and graphs is always recommended. Then move to its brand image. You can highlight the popularity of the brand and also mention the brand valuation of the company. The financial status and the brand valuation are two of the most vital aspects of organizational strengths. After you have covered them, you can then talk about the product line up of the company and the current technologies used by the firm. Some organizations may have patented technologies, which can also be added here. Finally, you can discuss about the key differentiating factors that distinguish the company from other market players. These factors can be its unique product or service design, operational processes, its leadership, etc. While talking about the strengths of a company, you should focus on the key aspects which the company does best, that has led to its growth and sustenance in the market.
Weaknesses: The key weaknessfor a company is its financial limitations. Not every organization is able to maintain a steady stream of profits as desired. The poor financials of a company can be considered as the most concerning weakness, as it limits the operations of the firm and prevents it to offer attractive value offering to its customers. Secondly, you can talk about the limitations it the supply chain of the company. Most companies are highly dependent on their suppliers, due to lack of vertical integration in their supply chain. As a result, the company has very poor control over its operations and pricing. The lack of vertical integration can also make a firm less reactive to market changes. Finally, you can also highlight the lack of advanced technologies that would have allowed the firm to offer unique value propositions to its customers. A company lacking design or technology patents can find it very difficult to differentiate itself from its rivals. Thus, the weakness factors will include all the aspects that the restricts the growth of company needs to be improved upon.
Opportunities: The most crucial opportunity for a company is the potential for high customer demand for the offered products or product categories. First of you should highlight the statistics for market demand and popularity for the product category that the company deals in. A higher demand should indicate potential opportunity for the company. The polices and regulations established by the local government can often prove to be quite beneficial for the company, as it can present new growth opportunities. You can also highlight the potential opportunity for market diversification due to good bilateral relationship with other host nations. The chosen organization can easily expand its business to another international market, if there are good bilateral relationships and high market demand in the host market. In this context, you can also show some statistical data about the global market demand, thereby justifying the internationalization opportunity for the company.
Threats: The most significant threat that a company faces are the threat of steep competition. While discussion this aspect, look for the number of market players in the industry. The higher the number of operating firms, the steeper is the competition. The threat of competition most arises from the fact that different companies compete for the same customer base offering identical or better value propositions in the concerned industry. Another threat faced by the company is the threat of political conflicts in the market region. These conflicts can significantly impact the business operations of a firm. So, you should check political stability index score for the given market location. Moreover, the you can also highlight the sudden changes in the laws and regulations by the local government. Since, such changes can bring uncertainties for the business, so they can pose as prominent threats.
It is important to note that this SWOT analysis template provides a set of generic factors that are most commonly found for any organization. However, the presence or absence of these aspects will largely depend on the company that you choose for your college essay.Use this template in combination with our SWOT analysis example, to get a clear understanding on how you can get the better scores in your marketing paper.
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