What is SWOT?
SWOT is the abbreviation of SWOT analysis, which is a business model proposed in the 1980s by Heinz Weihrich, a professor of management at the University of San Francisco. It is suitable for corporate strategy formulation and competitor analysis.
What is SWOT analysis?
When using such tools, it is necessary to analyse the current Strengths, Weaknesses, Opportunities and Threats of the enterprises to summarise the internal and external conditions, so as to have a comprehensive understanding of analysis and the positioning of its competitive advantages.
Ideally, a SWOT analysis is usually conducted by a team including an accountant, a salesperson, a supervisor and an engineer (if there is).
Notice of SWOT analysis
When beginners conduct SWOT analysis, they need to pay attention to the following points in order to avoid misleading:
- Before the overall goal is determined or a consensus is reached, in order to avoid the analysis results being scattered or requiring repeated revisions, the analysis is not carried out
- When describing Opportunities, different from the other three quadrants, sometimes it is difficult to make an objective statement. You can try to fill in the description of the ideal situation, which will help to advance the next strategy
A set of accurate business analysis reports can often make payroll data more valuable so as to make the best decisions.
Workstem’s HR data analysis function analyses and compares the company’s past financial data and imported market data to help employers gain real-time insights into the changes in the personnel costs, and predict the labour cost trends to adjust business strategy and realise the maximum output of employee value.