Swot Analysis

Literature Review
1. Introduction.
This report has been carried out to gain an understanding of the concept and benefits of a SWOT analysis to an organisation. The report has a central aim with three structured objectives. The report highlights important and critical factors of a SWOT analysis and applies this use of SWOT to a specific organisation.
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2. Literature Review
21. Importance of SWOT analysis
The purpose of this report is to evaluate the importance of a SWOT analysis to an organisation in terms of gaining strategic advantage within the market. This report does not aim to question this theory; it simply tries to credit/encourage its use by an organisation in the tertiary sector. Relevant literature has been studied and analysed for drafting of this report. The aim is split into three objectives which are the following:
1. To analyse the concept of a SWOT analysis
2. To evaluate the benefits of SWOT to an organisation
3. To make recommendations for the continued use of a SWOT analysis
2.2Concept of SWOT analysis
A SWOT analysis is an auditing tool that managers use to critically evaluate their business and their current position within the market. It can also be classified as a structured evaluation of internal and external marketplace conditions (Duncan, 2005). It allows managers and marketers to analyse the environment which they operate in. The environment must be split into two main areas, firstly internal analysis and secondly the external environment. Organisations need to deploy their resources at their disposal strategically, ensuring that areas of strengths and weaknesses are acknowledged and utilised effectively (Thompson, 2001).
The SWOT looks at the strengths and weaknesses of the organisation; it also highlights opportunities and threats to the company. It is the effective use of this information/analysis of the company’s resources which allows organisations to strategically position themselves or take advantage...