SWOT Analysis Explained Correctly
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- Опубліковано 26 чер 2024
- Many firms use a version of the SWOT analysis. This analysis looks at the internal strengths and weaknesses of a firm and develops strategies to improve them, while also focusing on the external opportunities and threats facing the firm. The model then helps firms develop strategies to take advantage of the opportunities and prepare for the threats.
Filmed in Prague, The Czech Republic
Copyright Mark Wolters 2019
Topic 2: Strategic Marketing
#marketing #swot #swotanalysis
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I've done so many SWOT analyses at multiple companies over the years and two things always happen.
*_Strengths_* - The obvious strengths are easily identified but then people start listing opinions. "We provide the best customer service in our space." "Our employees work harder than our competitors." "We are the most trusted in the industry." I could go on, Mark but it's unbelievable how subjective truly intelligent people get when listing strengths.
*_Weaknesses_* - Similarly, not only is it difficult to discuss weaknesses (as you pointed out), companies often cannot see them. Sometimes it's innocent. There's a daily culture of "we're great, we're great, we're the best, focus on competitive advantages, promote our strengths, stay positive!" Then when it comes to a SWOT analysis, everyone kind of scratches their heads on the weaknesses. Ha.
I was headhunted to a company where everyone seemed brainwashed into thinking nothing they did was wrong and everything they did was golden. I'm shaking my head just thinking about those days.
Great video as usual! 👍
Thanks Tosh. I've done a few of these over the years and I would get a bit mean about it or more rude really when no one would be able to mention a weakness. It was like if they said it than it would be their fault it exists so no one said anything. So inwould lay out 4 or 5 weaknesses and explain why and then offer some suggestions and we would go from there. I just did this with my students for our marketing program and I just keep asking why is that. What do you mean. Just so I can gain more insight. Such a good tool when used correctly. Thanks again for the great comments today.
Great comment. This has been my experience in all the jobs I've had. I was also headhunted by a company plagued with too much positivity. Some colleagues would desperately try to turn weaknesses into threats during SWOT sessions!
Dear Professor Wolters, thank you so much for this video! You make complicated things simple. I really like your attitude! Take a good care!
Love this explination, thank you!
Delightful!
OMG!!!
WOLTERS WORLD!
Love your channel(s)!
I have to bookmark this video. Now i completely understand.
I love to see you in Prague :) I hope you are doing well.
Thank you. Great explanation! Love and light from UK
Thank you
Best description of the SWOT analysis! 👏🏼
Thank you!
@@ProfessorWolters you’re very welcome! I should be thanking you. I work for a major fire department and was assigned accreditation tasks at the last minute. Your amazing yet simple breakdown of the SWOT analysis greatly helped.
watching from Philippines, you explained it very well, thank youu
Thank you!
I remember the acronym well from my days of working with a business coach. He had me complete a 1PSP (one page strategic plan) and these were at the top of the form. The one page was an 11x17 sheet to get it all to fit. It's been a while since I've updated it and I'll look to do so for the coming quarter. Thanks for the refresher!
Glad I could help :)
Watching you from Turkey,,,,,,,,,,,, Love you for the explanation
Thanks for watching!
best explanation thank you
thank you!
This video to very big help me
You the best man
Thank you
Nice prof!
thanks
Thanks sir
You're welcome
This analysis is very common in Danish technical highschools. I've used it countless of times during my projects. But good video explaining the theory :)
Yeah. It is a good tool and i too teach it in my classes. Because it does help get people to focus on specifics.
Thanks for the quick lesson
You are welcome
Thank you sir this helped me with my college assignment
Glad to help!
Nice info
Thank you
Thanku professor
You're welcome
Hi professor, could you next video mention that how to combined VRIO to SWTO
Hi dr
And what about if isn't my company and I should did a swot analysis, how can I get internal analysis?
Watching you from Lagos ,Nigeria . Thanks for this informative class
Awesome! I hope we can get there one of these days when we can travel again.
We will be more than glad to have you around 😄😄😄
From Philippines, thank you for this..really helps in swot analysis in marketing..do you have videos for industry analysis? thanks.
We have a lot. Just depends how you want to look at the industry
I need swot right now. Sales are down.
0:57 that man in the background though!!! lol
S = Strengths. At 2:00, after funny Fortnite comment, Professor Wolters says, "So when you have your strengths, you want to put down, 'How do I make that strength stronger?'" It's "forced association" with, and promise to "extinction-proof," Wikipedia and WikiLeaks (monetarily (percentage of profit) and with hyperlinking) is top-Wiki's greatest S (strength).
POV:nandito ka para sa empowerment technology
Sur ma mère je comprend rien
"Fortnite"???? WAIT, THIS VIDEO WASNT MADE 7 YEARS AGO???
The same sec. 1:21 you said "non meat burger". The white car behind you evaporated :-) . So it actually helps on health and pollution. 😂 So about editing find a space with not to much going on in the background.😉😉
I like the ghost cars ;) it makes the videos a bit spookier