Answer to Question #272305 in Economics for Aileen Lucero

Question

In the organization, it is important that we update our people

to the current state of the business. SWOT is one of the

framework that clearly show where we are and the chances of

where we are going. So it is very essential that our people

know what it means.

To give the presentation clarity, design your own visual

representation of SWOT Analysis and PORTER’s Five forces.

Note: Design your own icon that may represent the factors.

Answer 1

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business. SWOT Analysis is a simple tool that can help you to analyze what your company does best right now, and to devise a successful strategy for the future.

PORTER’s Five Forces are:

• The Threat of new market players,
• the threat of substitute products, power of customers,
• power of suppliers,
• industry rivalry which determines the competitive intensity and attractiveness of a market.