Description

SWOT ANALYSIS ASSIGNMENT

 

SWOT Analysis Assignment Table of Contents

 

1. SWOT Analysis Assignment Programmatic Learning Objectives
2. SWOT Analysis Assignment Construct – Format
3. SWOT Analysis Definition
4. SWOT Analysis Assignment Grading Criteria
5. SWOT Analysis Assignment Programmatic Learning Objectives Addressed;

 

The SWOT Analysis Assignment is designed to provide the student with the framework to aid in the development of a   comprehensive set of Strategic Management Initiatives based on problem solving and critical thinking skills.

 

• Problem Solving / Critical Thinking (PLO 3)
  • Addresses a complex problem in business management using strategies and tactics that lead to the development of actionable solutions.
• The specific process is defined in the following steps;

1. Define problem
2. Identifies and applies strategies and tactics
3. Propose Solutions
4. Evaluate Solutions
5. Implement Solutions
6. Evaluate Outcomes

 

• Refer to the Grading Criteria section of this Assignment for complete details.

 

6. SWOT Analysis Assignment Construct – Format;

 

• The SWOT Analysis Assignment is constructed in the context of your Course Project industry / company / brand you selected.
• Complete your SWOT Analysis Assignment based on the definition stated below and the framework in the course text book (pages 238-242).
• It is critical that you understand that the SWOT Analysis becomes your roadmap for the development of your Course Project Strategic Management Initiatives.
• The specific process is defined in the following steps;

1. Define problem
2. Identifies and applies strategies and tactics
3. Propose Solutions
4. Evaluate Solutions
5. Implement Solutions
6. Evaluate Outcomes

• Also refer to the Course Project Assignment for further details.
• We will review SWOT Analysis methodology during the course and encourage Students to contact the Professor to discuss any and all issues related to their assignment deliverable.

 

7. SWOT Analysis Assignment Definition

 

SWOT analysis (alternatively SWOT matrix) is an acronym for strengths, weaknesses, opportunities, and threats—and is structured planning method that evaluates those four elements of a project or 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 favorable and unfavorable 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.^[1][2] 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 business or 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, decision makers should consider whether the objective is attainable, given the SWOTs. If the objective is not attainable, they must select a different objective and repeat the process.

Users of SWOT analysis must 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.

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:

1. internal factors – the strengthsand weaknesses internal to the organization
2. external factors – the opportunitiesand 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 4Ps; 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.

The usefulness of SWOT analysis is not limited to profit-seeking organizations. SWOT analysis may be used in any decision-making situation when a desired end-state (objective) is defined. Examples include: non-profit organizations, governmental units, and individuals. SWOT analysis may also be used in pre-crisis planning and preventive crisis management. SWOT analysis may also be used in creating a recommendation during a viability study/survey.

Strategy building;

SWOT analysis can be used effectively to build organization or personal strategy. Steps necessary to execute strategy-oriented analysis involve: identification of internal and external factors (using popular 2×2 matrix), selection and evaluation of the most important factors and identification of relations existing between internal and external features.^[3]

For instance: strong relations between strengths and opportunities can suggest good condition of the company and allow using aggressive strategy. On the other hand, strong interaction between weaknesses and threats could be analyzed as potential warning and advise for using defensive strategy.^[4] The analysis of these relationships to determine which strategy to implement is often performed in the growth planning phase for a business.^[5]

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.^[6]

 

Course Project Grading Criteria;

 

Each Programmatic Learning Outcome – PLO – will have specific grading criteria and standards to be presented during the course.

 

• Problem Solving / Critical Thinking

Addresses a complex problem in business management using strategies and tactics that lead to the development of actionable solutions.

 

	1	2	3	4
Define problem	Demonstrates a limited ability in identifying the business problem.	Demonstrates some ability to formulate the business problem; some key points are treated, but the statement is superficial in some respects.	Constructs an adequate statement of the business problem; most relevant contextual factors are treated.	Constructs a clear, insightful  statement of the business problem, carefully taking into account contextual factors.
Identifies and applies strategies and tactics	Identifies strategies and tactics which do not apply to the business context.	Identifies and applies only one strategy and/or tactic which applies to the business context.	Identifies and applies multiple strategies and tactics, only some of which apply to the business context.	Identifies and applies multiple strategies and tactics, all of which apply to the business context.
Propose Solutions	Proposes solutions that are vague and difficult to evaluate.	Proposes one basic solution that reflect some comprehension of the business problem; contextual factors are not carefully considered and analysis is superficial.	Proposes one or more solutions that reflect adequate comprehension of the business problem; solutions take into account contextual factors and involve a fair analysis of the business problem.	Proposes one or more solutions that reflect a deep comprehension of the business problem; solutions are sensitive to contextual factors and involve a thorough analysis of the business problem.
Evaluate Solutions	Evaluation of solutions is overall superficial; inadequate attention to evaluation of feasibility.	Evaluation of solutions is brief and lacks depth; some analysis of feasibility is reasonable, but analysis is superficial in places.	Evaluation of the solutions is adequate; contains reasonable analysis of the feasibility of solutions.	Evaluation of solutions is deep and elegant; contains thorough and insightful analysis in examining the feasibility of  solutions.
Implement Solutions	Implements solution that does not address basic business problem.	Implements the solution that basically addresses business problem; but some contextual factors are not adequately addressed.	Implements the solution that adequately addresses multiple contextual factors of the business problem.	Implements the solution that thoroughly addresses multiple contextual factors of the business problem.
Evaluate Outcomes	Examination of outcomes is either lacking or superficial.	Examines outcomes of proposed solution; analysis is unclear in places and little or no strategies for improvement are offered.	Adequately examines outcomes of propose solution evaluating results and identifying  reasonable strategies for further improvement.	Carefully examines outcomes of solution, insightfully evaluating results and identifying fruitful strategies for further improvement.

 

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