professional practice

TASK 1

SWOT ANALYSIS

 A SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieve that objective. Some authors credit SWOT to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500 companies. However, Humphrey himself does not claim the creation of SWOT, and the origins remain obscure. The degree to which the internal environment of the firm matches with the external environment is expressed by the concept of strategic fit.

•  Strengths: characteristics of the business or project that give it an advantage over others.
• Weaknesses: characteristics that place the business or project at a disadvantage relative to others.
•  Opportunities: elements that the project could exploit to its advantage.
• Threats: elements in the environment that could cause trouble for the business or project.

Identification of SWOTs is important because they can inform later steps in planning to achieve the objective. First, the decision makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable a different objective must be selected and the process repeated.

Users of SWOT analysis need to ask and answer questions that generate meaningful information for each category (strengths, weaknesses, opportunities, and threats) to make the analysis useful and find their competitive advantage.

Matching and Converting

One way of utilizing SWOT is matching and converting. Matching is used to find competitive advantage by matching the strengths to opportunities. Converting is to apply conversion strategies to convert weaknesses or threats into strengths or opportunities. An example of conversion strategy is to find new markets. If the threats or weaknesses cannot be converted, a company should try to minimize or avoid them.

Internal and External

SWOT analysis aims to identify the key internal and external factors seen as important to achieving an objective. SWOT analysis groups key pieces of information into two main categories:

• internal factors – the strengths and weaknesses internal to the organization
• external factors – the opportunities and threats presented by the environment external to the organization

Analysis may view the internal factors as strengths or as weaknesses depending upon their effect on the organization's objectives. What may represent strengths with respect to one objective may be weaknesses (distractions, competition) for another objective. The factors may include all of the 4p as well as personnel, finance, manufacturing capabilities, and so on.

The external factors may include macroeconomic matters, technological change, legislation, and sociocultural changes, as well as changes in the marketplace or in competitive position. The results are often presented in the form of a matrix.

SWOT analysis is just one method of categorization and has its own weaknesses. For example, it may tend to persuade its users to compile lists rather than to think about actual important factors in achieving objectives. It also presents the resulting lists uncritically and without clear prioritization so that, for example, weak opportunities may appear to balance strong threats.

It is prudent not to eliminate any candidate SWOT entry too quickly. The importance of individual SWOTs will be revealed by the value of the strategies they generate. A SWOT item that produces valuable strategies is important. A SWOT item that generates no strategies is not important.

What the propose of swot

Strength and weakness

Exploring untapped opportunities helps company leaders consider ways to grow. Generally, strong companies are always looking for ways to grow because if they do not grow, they typically fall behind and give up opportunities to competitors. Opportunities can include new and emerging markets, new business and product developments and strategic business partnerships that may create more sales and profits.

Opportunities

Exploring untapped opportunities helps company leaders consider ways to grow. Generally, strong companies are always looking for ways to grow because if they do not grow, they typically fall behind and give up opportunities to competitors. Opportunities can include new and emerging markets, new business and product developments and strategic business partnerships that may create more sales and profits.

Threats

Though it is one of the least enjoyable areas of SWOT to consider, companies need to understand external threats so they are not caught off guard. Changes in government regulations may affect the level of competition or costs companies face. Environmental standards or conditional changes can affect companies in the ways in which they use natural resources for business. Technological advances or changes can affect companies that do not adapt.

Essay about myself

My name is Muhammad Bin Zaidi. I was 21 years old. My eldest child in the family and has three siblings again. I studied at Linton University College and majored in graphic design. I also have the ability to take pictures and video editing. I also like to play ragby since the time of the first school with a friend the other. What I saw within 2 years ago, I went through all this trouble with myself, to build more aware of what I do. Several months ago, I was in an academic problem, who do not attend class, submit assignments late. This problem has helped me to realize that, if I did it again might have caught me in more trouble in my academic results. Furthermore, I also have a few weaknesses that you know, I was a player, so I play a lot of games I'm addicted to the game, and another one is lazy to get up early in the morning. This is a serious problem for because, if I sleep late overslept and missed all day not doing anything just to play games at home. It is my weakness, so my strength in my work, I usually do it in detail, which is slower but still have work and results. I took graphic design courses at University College Linton. Over the holidays I sem worked as a designer in the company of my aunt and photographers. I love my job because it gives me a lot of experience and I show a variety of different walks of life and human behavior specifically for youth. All this experience is beneficial to me and made me realize how much I should be thankful for having friends and a loving family. Even so, sometimes I have a hard time because there are a lot of challenges as well. However, I was trying to see the positive side, because I know that dealing with people is not a simple matter. In order to improve the performance of my work and myself, I believe there are still many things I need to learn, and should strive to have a better life in the future.