Management Information Systems
Assignment – 2
Anisur Rahman Sir
Bangladesh University of Professionals
Mirpur Cantonment, Dhaka
By doing this assignment I have come to be acquainted with about the ways to assess an institutions SWOT. It has enhanced my ideas & helped me congregate experiences associated to management that would be, I am sure, extremely helpful for my future in whatever carrier I choose. I want to thank our course instructor, for giving me the opportunity to analysis the SWOT of BUP.
Table of Contents
Note that the analysis, in itself, is only a data capture.
Whereas SWOT analysis is a planning tool used to understand the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business. It involves specifying the objective of the business or project and identifying the internal and external factors that are supportive or unfavorable to achieving that objective. SWOT is often used as part of a strategic planning process.
SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats:
How to do SWOT Analysis:
A SWOT analysis can be very subjective, & two people rarely come-up with the same final version of SWOT. It is an excellent tool for looking at the negative factors first in order to turn them into positive factors. But we have to be careful to use SWOT as guide and not prescription.
The steps to be considered for doing SWOT analysis are:
1. Information collection:
Listing all strengths that exist now. Then in turn, list all weaknesses that exist now. Be realistic but avoid modesty.
Listing all opportunities that exist in the future. Opportunities are potential future strengths. Then in turn, list all threats that exist in the future. Threats are potential future weaknesses.
3. Plan of action:
Reviewing SWOT matrix with a view to creating an action plan to address each of the four areas.
• Strengths need to be maintained, built upon or leveraged.
• Weaknesses need to be remedied, changed or stopped.
• Opportunities need to be prioritized, captured, built on and optimized.
• Threats need to be countered or minimized and managed.
Why is SWOT analysis important?
Doing a SWOT analysis is very important for an organization for several reasons:
• The SWOT analysis tool is great for developing an understanding of an organization or situation and decision-making for all sorts of situations in business, organizations and for individuals.
• The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company, product, project or person (career).
• Doing a SWOT analysis can be very simple, however its strengths lie in its flexibility and experienced application. Remember the capture is only part of the picture.
• Reveal your competitive advantages
• Analyze your prospects for sales, profitability and product development
• Prepare your company for problems
• Allow for the development of contingency plans
• A SWOT analysis is a process to identify where you are strong and vulnerable -- where you should defend and attack. The result of the process is a 'plan of action', or 'action plan'.
• Done properly, SWOT will give you the big picture of the most important factors that influence survival and prosperity.
The SWOT Matrix Model:
|Positive |Internal ...