Good Example Of Essay On SWOT Analysis
SWOT analysis came to help organizations to develop a balanced-score card that is multidimensional. Each of the four components of a balanced-score card (financial, customer, innovation and learning, and internal business perspectives) is analyzed based on all the elements of the SWOT analysis. For example, when developing measures to assess the financial success of the company, one will need to consider the financial strengths, weaknesses, opportunities and threats that may affect the results in one or the other. This consideration will also apply when developing measures for assessing the success of the company in terms of customer perspective, internal business perspective and innovation and learning perspective. As a result of this process, the company will develop balanced-score card measures that seek to maximize its strengths and opportunities, and at the same time minimizing threats and weaknesses (Kaplan & Norton, 2004). At the end, the company will improve its performances in areas through achieving the measures identified in this process.
Some of the questions that one might ask include;
Has the customer perception towards the company improved in the last one year?
Has the sales of the company increased in the last quarter given the financial constrains that were experienced in the previous years?
Have the company been able to launch any new product in the last one year, given the new government tax regulations?
Has the workers’ turnover rate declined in the last one year, given the fact that the company has been able to hire the best brain in this industry previously?
What problems did customers raised in the last quarter?
What are the financial strengths do our competitors enjoy that we do not have?
Kaplan, R. S., & Norton, D. P. (2004). Measuring the strategic readiness of intangible assets. Harvard Business Review, 82(2), 52-63.
Please remember that this paper is open-access and other students can use it too.
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