18. SWOT as an analysis tool. SWOT analysis. The apple

Added on - Oct 2019

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SWOT analysisThe apple is an American company that is currently dominating the market in the national andglobal market is the firm chosen for this analysis and the tool for analysis that is evaluated in theSWOT analysis, which is the most basic of the situation analysis tools for a company.While the SWOT analysis in a specific market is simple to perform it does not detract from itsimportance in the organization. The SWOT analysis helps identify the strengths, weaknesses,opportunities and threats for a company operating in the market and their benefits start fromidentification of the different strengths and weaknesses of the company operations. That leads tothe economic use of the resources, which is finite and thus allows the organization to gain anadvantage by improving overall performance by concentrating the efforts in specific weak areasand leverage their strengths to their fullest benefit (Helms & Nixon, 2010). Therefore, theefficient use of resources in the areas where they are bound to have most impact improves thecompany performance to a higher degree and the resultant performance rise makes the companymore profitable. This leads to improvement in the product quality and specification to bettermeet the customer needs that affect the company image and brand recognition. Therefore, thecompany can find the best way to raise the company reputation and brand value by the analysistool (Hay & Castilla, 2006,). As the current market saturation rate is high in case of electronicgoods the market information regarding new opportunities is a great method to direct productdevelopment and improvement, which is the other benefit of the SWOT analysis. Therefore, themarket information gained from a SWOT analysis that not only provides rudimentary directionfor the company future steps but also helps identify specific areas where further study isnecessary to benefit the organization. The identification of threats or risks is also part of theanalysis, which helps devise the preventive planning for the future contingencies. Theidentification of the risk allows the company to not only prevent or minimize the damage fromsaid factors but also helps in the development of a strategy to leverage these risks to gain acompetitive advantage over the competitors (Yuan, 2013).All these benefits can be gained from the SWOT analysis but the main strength of SWOTanalysis is the simplicity of the tool and the versatility that allows the company to gain basic
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