Developing strategies in Indian business industry is one of the most important tasks in any business organization. Because in India, the competition is intensive in different business industry. Here, every business organization develop strategies to achieve competitive advantages to be more competitive in the future. For creating strategies, business organizations use different types of tools to find out the resources and capabilities a company has. Here SWOT analysis comes as an important part of business strategy.
SWOT India Publishes the SWOT Analysis on Different Indian Companies.
SWOT analysis is one of the most important yet inexpensive tool to find out internal and external strategic resources and capabilities of a business organization.
SWOT is an acronym in which S stands for Strength, W stands for Weakness, O stands for Opportunities, and T stands for Threats. I have elaborated these terms little more in below.
Strength
It is the first step of SWOT analysis. Here you find out the strengths a company possesses. Strengths are the positive things a company has in the eyes of customers and the organization’s management as well. What does it do best? Is it the unique products? Is it the skilled labor forces the company has? Or is it the financial backup the company has to run its operations?
Weakness
In the next step, we find out the weakness a company has. It is about the company’s negative sides. The word is completely self explanatory; It is exactly the opposite of strengths. to which things is a company incapable of? Maybe, it does not have enough capabilities to support its operations. Maybe, the products it offers have negative value in the eyes of the customers. Maybe, it can not produce good products because of unskilled labor force.
Opportunities
In the third step, you need to find out the opportunities waiting for the company. It is actually the external factors. It is never an external factor. Because, the opportunities depend on the external factors like political conditions, population growth of a country or any specific area, change in interest rate or inflation, opportunities given by government etc.
For example, maybe a decrease in interest rate can give you an opportunity to borrow fund at lower rate and invest more in the company to expand more.
Threats
In the last stage, you talk about the threats a company may face in the future. The threats can be natural disaster, bad political condition in a country, or increasing competition in the market.
How do you Use the SWOT Analysis tool?
First, you find out the strengths, threats, opportunities, and threats. Then you find the answer is the existing strengths are capable of utilizing the future opportunities in India? Can I reduce the weakness? So that the strengths may be increased. As a result, we will be able to avoid future threats in future.
More about SWOT Analysis
SWOT is a tool to evaluate and bring changes in business if necessary. It can be understood more if some examples are present. We have some examples here in Examples of SWOT analysis of Indian companies. Also, you can have more SWOT Analysis examples in Gotabout Business Management and Analysis.
Further Reading of Some Analysis
SWOT Analysis India 