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Based on diagram 1 is the meaning of SWOT which the S; strength and W; weakness are within the company's control, it also known as internal analysis while the O; opportunities and T; threats are out of the company's control, external analysis. SWOT analysis is a must in order to create effective business plan or strategy. For instance, usually before managers attempt to assess both their organization and its environment, strategies goals will be establish first. A common framework for this assessment is called a SWOT analysis. This process involves determining organizational strengths and weakness and environmental opportunities and threats.

SWOT analysis is very necessary to business owners because a SWOT analysis is an essential aspect of strategic business planning and should always be performed in line with the initial creation of a company's business plan. As individuals, we acknowledge the importance of scheduling an appointment for an annual Physician's check-up to protect our health. Similarly, successful business owners and managers know the importance of scheduling an annual SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to ensure best business health. On a regular basis, annual SWOT review were prepared to update the business plan making sure that the business plan will remain a relevant, breathing document that the firm and the employees can follow as a guide.

A comprehensive SWOT analysis will help business identify areas where its capabilities and resources are strong and potential to capitalize on opportunities is the greatest. Of course, business will need to take into account of its financial strength and corporate culture before executing any new strategy. Most importantly, involve the employees! If business fails to communicate the goals and objectives that presented from the SWOT analysis, the employees will be working in the dark. Set aside a half day for a structured brainstorming session specifically focused on the results of the SWOT exercise. Seek for staff input on development of new goals to fulfill the strategies and ask how they can help businesses to get there. The employees are the engine that drives the train of the business, and they are an essential part of implementing SWOT strategies.

SWOT can assist company to plan strategies by following these seven steps. For the first step is select a facilitator, the facilitator can be someone who works at the company (typically a high level manager) or hiring an outside consultant. Step two is creating a SWOT Team, simply grouping a group of employees, from different business units and job functions. Teams are normally at least five people and can be as large as the whole company. Step three is selecting the place for the SWOT analysis which can be an open meeting environment for a small group or off-site company for the larger group. Step four is assembling the means for the group use example like a number of flip chart,

easel and markers. While the step five is performing the external scan with usi本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。