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People and Brand 06/03/2013 SWOT analysis: use it!
SWOT analysis: use it!
Tashkent, Uzbekistan (UzDaily.com) -- SWOT analysis helps to identify the current status of the organization and gives a picture of the strengths, weaknesses, opportunities and threats to its development.

A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective.

Identification of SWOTs is important because they can inform later steps in planning to achieve the objective.

SWOT is traditionally created in the form of a table:

Strengths:
1.
2.
3.

Weaknesses:
1.
2.
3.

Opportunities:
1.
2.
3.

Threats:
1.
2.
3.

Each of the relevant sections contains all the noteworthy facts. For example see the SWOT-analysis of the company “Ivanov and partners Ltd.”:

Strengths:
1. Stable and loyal clientele
2. Good reputation among the target audience
3. Sought after product on the market
4. Professional team

Weaknesses:
1. Lack of budget for a large-scale advertising
2. High staff turnover
3. Supply disruptions

Opportunities:
1. Reorganization of sales to the revision of motivation and incentives specialists
2. Expansion of the product positions’ number
3. Using the internet and social networks to promote the product

Threats:
1. Launch of a brand new competing product, scheduled for the spring-summer time,
2. Brain drain by competing companies
3. Rapid product obsolescence

At the same time, however, SWOT-analysis does not end there. The next part should be devoted to the analysis and development of solutions based on the facts set out in the table. It is important to figure out how to use strengths to compensate for weaknesses, and how opportunities can affect each of the items in the "threats" section.

For example:

1. Loyal customers can help to solve the advertising budget problem - they may introduce additional loyalty programs, and the creation of the club of loyal customers in order to ensure the dissemination of information on the type of "client - prospect customer."

2. The professionals of our company should not be tempted to be hired by a competitor. We should review the system of motivation, payment, and relationships within the team (especially - in the sales department) so that employees have been personally interested in working with the company.

3. Future availability of a new product by our competitors should be compensated for the expansion of the product positions that we offer. We have to run the existing product on the market with additional features, in order to offset the threat of losing some part of market share.

For each of proposals, as appropriate, you should work out the solutions in which these proposals can be implemented. Thus, SWOT-analysis provides a complete picture of the current situation, the measures and decisions to be taken.

Artem Safarov

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