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MGT449 Wk 2 DQ 1


MGT449 Wk 2 DQ 1 fin571

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MGT449 Wk 2 DQ 1
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This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 27 views.

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Date Created: 11/11/15
Q What is a SWOT analysis Consider an organization you are familiar with or an organization you select through research How would a SWOT analysis be incorporated into the quality process during the planning phase Ans SWOT analysis is basically finding out the strengths weaknesses opportunities and threats present of any company or organization By conducting a SWOT analysis one can get an overall picture of what they have what they lack what they can utilize more properly and where are the portions which may be a reason to worry or will need an attention Thus it can be said that SWOT analysis is the overview of the present condition and situation of an organization It aids in reviewing the objectives target markets competition tangible and intangible assets and liabilities of an organization on the basis of which various decisions are made It gives a support when one knows about his strengths and is aware of its opportunities and imposes the need of attention in regard to weaknesses and threats SWOT analysis is required and is essential to aid every phase in which an organization is involved SWOT analysis helps in improving the quality process during the planning phase If all the strengths weaknesses opportunities and threats are known one can decide that which things or features should be highlighted in the quality of a product or a service and which should be taken special care of For instance let s take an airline Its strengths could be the best air craft and trained staff and its opportunity is to eXpand its operation worldwide these both will enhance the quality they are offering whereas the weakness could be the high prices in regard to competitors and threat can be the rising fuel costs During the planning process the organization can work on both the weaknesses and the threats and can improve the quality


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