BUS 485 Topic 3 DQ 1

Max Points: 5.0

Why is it important to conduct a SWOT analysis? What are the weaknesses of a SWOT analysis? Why is that so?

A SWOT analysis is a riged plan used to evaluate the strengths, weaknesses, opportunities and threats involved in a business. I think this is important because it will allow a leader or the principals of a company to properly evaluate this potential business idea or an existing one impartially and logically so that said company can reflect and appropriately use strengths for a better competitive advantage and counter possible weaknesses.

Speaking to the SWOT analysis itself i don’t see any particular weaknesses inherent to the idea, but if i had to guess I would suppose that it would be possible to devote one’s self too far to a SWOT analysis so that you might alienate yourself from competition, if that makes sense. Also I’ve noticed that since the business developer or entrepreneur is usually the one trying to apply the analysis it may be that you over estimate the opportunities and strengths and don’t take account for the weaknesses and threats as much as one should, it might be a good idea to have someone from outside the idea apply the analysis. In other words and according to the For-Learn website from our course “Over-subjectivity in the generation of factors (compiler bias);” (FOR-LEARN) is a concern for those using the SWOT analysis.

FOR-LEARN. (n.d.). Retrieved June 27, 2016, from http://forlearn.jrc.ec.europa.eu/guide/4_methodology/meth_swot-

analysis.htm#Pros_Cons