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S.W.O.T Analysis This is another method of helping management to reduce the risk involved in making decision in a dynamic industry. It involves analysing the current position of a product, a department or even the whole organisation, and trying to identify its possible future course of action, by looking at its Strengths, Weaknesses, Opportunities and Threats. A strength is a factor which a business currently possesses and which it performs effectively, such as having a strong management team, a profitable portfolio of products, or a loyal customer base. A weakness is an area in which the business currently performs poorly, such as having a high level of industrial disputes falling profitability, or falling productivity levels. An opportunity is a potentially successful or profitable activity that the business could take advantage of in the future, such as the take-over of a competitor, the development of new products, or breaking into new markets. A threat represents...

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