Business organizations achieve their goals with strategic planning. The planning begins with a vision, mission and objective statements and is carried forward into actual implementation with internal and external analysis. The exploration process is done with the help of SWOT analysis. As a top-rated assignment help provider, we often deliver strategic management assignment help; and SWOT analysis is the most requested query so far.
Internal factors- Strengths, weaknesses
External factors- Opportunities, threats
A good SWOT analysis is important for your academic career, with proper guidance you can be assured about using this simple yet powerful tool. Our online assignment help experts are well versed with the components of SWOT analysis. According to them, the methodology is essential for any marketing project and therefore students should be well aware of the framework. As the most trusted assignment help expert, our aim is to help students improve their learning process. Today, let’s discuss the most common mistakes that students make while conducting a SWOT analysis.
1. Looking at SWOT as a one-dimensional model
The theoretical review of SWOT was published in the Journal of International Social Research, in which it was mentioned that SWOT analysis too has some limitations. Thus, students should not look at it as a wholesome tool to analyze an organization.
SWOT provides only a one-dimensional picture of an aspect. For instance, any factor that you see as a strength can also be a weakness if you try to perceive another angle. Thus, it is very important that you evaluate each factor critically. You may wish to take assignment help online if you are not sure about your critical thinking skills.
2. Letting the personal bias reflect in the analysis
Treat Assignment Help is a trusted assignment help provider entity that comprises of subject experts. Our experts have years of experience and their knowledge ensures that the strategic management assignment help we deliver is purely based on research and data. But, students often make the mistake that they solely rely on their personal bias to judge each factor and categorize it whether as a strength or weakness.
3. Incomplete research
Unfocused approach, lack of motivation, lack of time or the reasons might be anything but often our assignment help expert team receives tutor’s feedback on the SWOT analysis conducted by the students. It is often seen that the feedback is marked with insufficient research or incomplete information. Make sure you collect lots of information and arrange it logically so that your research efforts show in the SWOT analysis. It is equally important to find credible sources to conduct the research.
4. Not applying a research philosophy-
While conducting SWOT analysis, you should be aware of both internal and external environmental factors. You must ensure how the organization is conducting the management of financial resources, what are business research methods the company is implementing, and what functions of marketing the organization is utilizing. Getting familiar with all this information should be done at the brainstorming phase. This should be done because the most common mistake identified in SWOT analysis is that students don’t begin with a research philosophy. You are not supposed to start collecting information from here and there. It is suggested by scholars, research and even online assignment help experts that you need to combine qualitative and quantitative methodologies to conduct the research for SWOT data collection.
5. Incorrect judgment of SWOT factors
If it’s your first SWOT analysis, chances are high that you will fail the assessment. The reason, students often get confused between the strengths and weaknesses. They generalize the strengths and ignore the probable weaknesses. It happens because of their lack of critical thinking or even lack of knowledge or experience. You need critically analyze each factor and carefully prepare the SWOT table. Putting wrong factors or lesser important factors and ignoring important factors are common mistakes that students make in SWOT analysis.
You are most likely to make some errors in your first attempt to conduct a SWOT analysis. Don’t worry, with practice any goal can be achieved. To attain perfection, you can avoid the mistakes highlighted by our assignment help expert panel. To summarize, you can conduct a good SWOT analysis when:
You look at the strengths from an angle to find a weakness in it and vice versa.
You collect data and information from credible and relevant sources.
You combine both qualitative and quantitative techniques to make a sound judgment.
You measure the potential of each SWOT factor without personal bias.
You don’t overgeneralize the situation.
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1. What is a SWOT Analysis?
The analysis examines the internal factors (strengths and weaknesses) and external factors (opportunities and threats) for an organization. The study is conducted to examine the factors affecting or helping a company to achieve its goals, vision and mission.
2. How to start research to conduct a SWOT analysis?
To start with the company's strengths, you can find credible data on the company’s website where the annual reports are published. For weaknesses, you need to conduct extensive online research to find out any issues or scandals that occurred. To identify the external factors, you need to combine both qualitative and quantitative techniques for better results.
3. What are some tips for beginners to conduct a SWOT analysis?
Don’t hasten, stay focused and try to accurately read the SWOT factors before presenting the big picture. Beginners should not let their bias come in the process of judgement. For an accurate reading, it is important to conduct extensive research by using credible sources. Secondly, it is advised to start by interpreting the external factors so that you don’t overgeneralize the internal factors in the end.