A SWOT analysis comes as the tool which helps a company to compare itself with the existing market and firm agendas (Miller and Muir, 2004). It helps judge how strong a company is and how much stronger it needs to be. A good SWOT analysis helps the organisation to deviate its focus on the key issues.
a) Strength: The strength of a company lies in its very strategies. Its product, service quality, market dominance, cost position, location, product variety and instincts of innovation and its application. Company productivity is also carved by the existing human resource capability.
b) Weakness: Features as opposed to the core ‘strength’ areas pose to be the weakness for the company.
c) Opportunity: These can be brought about by any kind of favourable PESTEL changes. Existing competitors going weak can give a necessary thrust to the company’s profile as well.
d) Threat: Any change in the PESTEL that affects the growth of the company significantly.