HRM 532 Week 11 Discussion SWOT Analysis and Course Summary
How to do a SWOT Analysis
A SWOT is a planning tool used to understand the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business. It involves specifying the objective of the business or project and identifying the internal and external factors that are supportive or unfavourable to achieving that objective.
SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats.
There are several ways of graphically representing the SWOT analysis matrix or grid. Several versions are shown on this page – use the one which is best suited to your application.
While at first glance the SWOT looks like a simple model and easy to apply, I can say from experience, that to do a SWOT analysis that is both effective and meaningful, requires time and a significant resource. This cannot be done effectively by just one person. It requires a team effort.
The term “SWOT ANALYSIS” is in itself an interesting term. To my understanding, the SWOT is not an analysis. It is a summary of a set of previous analyses – even if those were not more than 15 minutes of mini-brainstorming with yourself in front of your computer.The analysis or more correctly interpretation comes after the SWOT summary has been produced.