Organization's stability and productivity: the role of SWOT analysis an acronym for strength, weakness, opportunities and threat

Ifediora Osita, Idoko Onyebuchi, Nzekwe Justina
2014 International Journal of Innovative and Applied Research   unpublished
There is no doubt that for an organization to actually remain stable and productive effort should be made to identify what constitute their strength, weakness, opportunities and threat, hence the acronym SWOT. It is the identification and careful analysis that would actually keep every productive organization going. If an organization does not make necessary effort to identify its strength, weakness, opportunities and threat, such organization is bound to fail in area of productivity as such
more » ... uctivity as such organisation will not be stable. This paper however dealt on the actual meaning and what the acronym stands for and its evaluation in two private schools. The paper however identified what constituted strength, weakness, opportunities and threat of the two schools. SWOT analysis however helped one of the two studied to advance in the face of growing challenges thereby leading to its stability and increased productivity. To achieve stability in an organization, the management of such organization must as a matter of fact familiarize himself/herself of the aims and objectives of the organization and a matter of importance know or get himself acquainted of the organizations vision and mission. For an organization to achieve her aims and objectives, she must regularly review or take a detailed study of internal and external factors that would directly impact or affect the organization success. The ability of the management to study these external and internal factors, analyse them and properly apply them is what distinguishes them from other organizations or simply makes them stand out. An organization that has mission and vision must do everything possible to work towards achieving its mission and vision. The aims and objectives, is what she must pursue vigorously with high sense of commitment and passion in order to achieve stability. It is worthy to note that managing an organization in order to ensure stability as it regards her goals and objectives, some strategic planning process should be employed. For the purpose of this exercise SWOT analysis which is part of strategic planning tool shall be considered. The concept of SWOT analysis/ definitions and views: The SWOT analysis is one of several strategic planning tools that are used by businesses and other organizations to ensure that there is a clear objective defined for the project or venture, and that all factors related to the effort, both positive and negative, are identified and addressed. In order to accomplish this task, the process involves four areas of consideration: strengths, weaknesses, opportunities, and threats. It should be noted that, when identifying and classifying relevant factors, the focus is not just on internal matters, but also external components that could impact the success of the project. SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose is to identify the strategies that will create a firm specific business model that will best align an organization's resources and capabilities to the requirements of the environment in which the firm operates. In other words, it is the foundation for evaluating the internal potential and limitations and the probable/likely opportunities and threats from the external environment. It views all positive and negative factors inside and outside the firm that affect the success. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization.
fatcat:3mycj7navrcs5frmhmq3voi4ue