Answer to Question #209544 in Management for FATSO

Question

Assume you have been appointed as a Strategic Manager for Standard Bank, present a clear SWOT
analysis for the bank and critique how the results of a SWOT analysis can assist an organisation in
strategy formulation.

Answer 1

The following is a SWOT analysis for the Standard Bank

STRENGTHS

·        The bank has a large number of assets with enticing services

·        It is the heart of many people especially in South Africa.

·        It is unique as it operates on a legal framework.

WEAKNESSES

·        It is not diversifies in that it only operates in few countries.

·        The bank has got inadequate staff hence delayed service.

·        Just like any other bank, it lacks threat detection strategies.

OPP0RTUNITIES

·        There is possibility of expansion due to increased urbanization in Africa.

·        Due to emerging markets, the bank is likely to maximize its profit.

·        It is may serve a larger number of people in future due to increased population and its popularity.

THREATS

·        The online banking is likely to affect it operation.

·        New banks in the market are likely to pose competition.

·        It is prone to insecurity, theft and damage.

 

 

HOW THE RESULTS OF A SWOT ANALYSIS CAN ASSIST AN ORGANISATION IN STRATEGY FORMULATION.

Through the SWOT analysis, an organization can identify its strengths and device ways to maintain them. Strategies are formed in favor of the strengths to enable the organization stand unique and remain in the hearts of its clients.

Identification of an organizations weakness enables the stakeholders to establish ways to be applied in minimizing the weaknesses. It is ideal to do so because such moves enhances the organization’s appearance hence maximizing its profit.

The opportunities available for the organization will assist in avoiding a blind move. They will enable the organization in coming up with investment strategies as far as the opportunities are concerned.

Threats always imply negative impacts to any given organization. Organizations will tend to avoid being victims to threats by coming up with strategies that can suppress them. Such strategies will assure an organization of some positivity though not 100%.