SWOT
SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. It is a method of analysis used for critically examining a business, organization, or specific aspect of a business or organization in order to determine avenues of improvement. It is likely that business students in both the undergraduate and graduate phases of their studies will be called on to perform a SWOT analysis sometime in the course of their degrees. This will typically result in a formal written document reporting on the four SWOT components. A SWOT paper is not the same as a business research paper. It may require that the student incorporate or point to external research to bolster his or her opinions or suggestions regarding the entity being analyzed; however, it is primarily a report based on the student’s own acumen in a variety of business-related topics and the student’s thorough knowledge of the organization being examined.
A SWOT paper will likely begin with an overview of the organization being analyzed and a description of the particular issue that will be examined using SWOT. Then, it will proceed with the actual SWOT analysis, the first aspect of which is the organization’s strengths. This requires the analyzer to outline the strengths of the organization relative to its specific object of analysis. For instance, the SWOT analysis may be in regards to an organization’s productivity, so the strengths section would outline the ways in which the organization excels regarding productivity. Next, the paper would balance this point by describing the second component of SWOT: the organization’s weaknesses regarding productivity. It may, for instance, describe how the business only has three employees when it really needs four to reach its optimum productivity. Then, the SWOT analysis would point to opportunities for productivity to improve. This would not be a generic prescription, but would be based in the organization’s realistic capabilities. It would not, for instance, suggest that the three-person organization take on twenty new employees; this is an unrealistic goal for a small business. It may, however, suggest that the organization improve productivity by hiring an additional employee, or having the employees work as teams, or offering incentive plans for increased productivity. Finally, the SWOT analysis would suggest threats to the organization’s increased productivity. Again, this should be centered in the everyday reality of the organization. Of course, an earthquake might threaten the organization’s productivity, but that is not something the organization can reasonably plan for. The threat section should point out immediate and future common threats.
A SWOT paper should present each of the four components of the SWOT analysis in its own paragraph or set of paragraphs, often under separate headings. Each of the four components should be commented on in detail, and should point to various examples illustrating the writer’s points.
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