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Strategic Planning Project Business: SWOT Analysis Is A

SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats for a project or business venture. It involves specifying an objective and identifying internal factors (strengths and weaknesses) and external factors (opportunities and threats) that affect achieving that objective. Strengths are helpful attributes, weaknesses are harmful attributes, opportunities are helpful external conditions, and threats are external conditions that could damage performance. SWOT analysis helps organizations focus on key issues in the initial planning stage.

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785 views4 pages

Strategic Planning Project Business: SWOT Analysis Is A

SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats for a project or business venture. It involves specifying an objective and identifying internal factors (strengths and weaknesses) and external factors (opportunities and threats) that affect achieving that objective. Strengths are helpful attributes, weaknesses are harmful attributes, opportunities are helpful external conditions, and threats are external conditions that could damage performance. SWOT analysis helps organizations focus on key issues in the initial planning stage.

Uploaded by

mun4463
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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SWOT Analysis is a strategic planning method used to evaluate

the Strengths, Weaknesses, Opportunities, and Threats involved in


a project or in a business venture. It involves specifying the
objective of the business venture or project and identifying the
internal and external factors that are favourable and unfavourable
to achieving that objective
• Strengths: attributes of the organization that are helpful to achieving the
objective.
• Weaknesses: attributes of the organization that are harmful to achieving
the objective.
• Opportunities: external conditions that are helpful to achieving the
objective.
• Threats: external conditions which could do damage to the business's
performance.

SWOT analysis is a tool for auditing an


organization and its environment. It is the first
stage of planning and helps marketers to focus
on key issues. SWOT stands for strengths,
weaknesses, opportunities, and threats.
Strengths and weaknesses are internal factors.
Opportunities and threats are external factors.
Human resource management (HRM) is the strategic and
coherent approach to the management of an organization's
most valued assets - the people working there who individually
and collectively contribute to the achievement of the objectives
of the business.[1] The terms "human resource management"
and "human resources" (HR) have largely replaced the term
"personnel management" as a description of the processes
involved in managing people in organizations.[1] Human
Resource management is evolving rapidly. Human resource
management is both an academic theory and a business
practice that addresses the theoretical and practical techniques
of managing a workforce

The Human Resources Management (HRM) function includes a variety of


activities, and key among them is deciding what staffing needs you have and
whether to use independent contractors or hire employees to fill these needs,
recruiting and training the best employees, ensuring they are high
performers, dealing with performance issues, and ensuring your personnel
and management practices conform to various regulations. Activities also
include managing your approach to employee benefits and compensation,
employee records and personnel policies. Usually small businesses (for-
profit or nonprofit) have to carry out these activities themselves because
they can't yet afford part- or full-time help. However, they should always
ensure that employees have -- and are aware of -- personnel policies which
conform to current regulations. These policies are often in the form of
employee manuals, which all employees have.

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