SWOT-Analysis

The SWOT-Analysis is a kind of strategic planning and a form of management technique which helps a person or an organization to identify its own strengths, weaknesses and opportunities related to business competition. The SWOT- Analysis has been used as a tool to identify strengths and weaknesses within an organization. For example with physical resources, activities and processes. Strategic planning is an organization’s process of defining its position and setting strategic goals. Strategy includes processes of formulation and implementation. This form of planning has an outcome and there is the focusing on both strengths and weaknesses. The corporation needs to have its own set up of goals and become aware of its own weaknesses and possible strengths. The company has to have a clear vision of its stronger side to become more competitive at the market place and among its competitors.