SWOT Analysis

 

Xmultiple's Engineering Department


SWOT Analysis

SWOT analysis (alternatively SWOT Matrix) is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.

Xmultiple SWOT analysis is provided for a product, place, industry or person. It involves specifying the objective of the business or project with a customer and then identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500 companies. To analysis a project, Xmultiple uses the concept of "Strategic fit" which is the degree to which the internal environment for Xmultiple matches with the external environment.

Xmultiple sets objectives after the SWOT analysis has been performed. This allows us to achievable goals or objectives to be set for the organization. Below are the four elements of SWOT.

1. Strengths: characteristics of the business or project that give it an advantage over others

2. Weaknesses: are characteristics that place the team at a disadvantage relative to others

3. Opportunities: elements that the project could exploit to its advantage

4. Threats: elements in the environment that could cause trouble for the business or project

Identification of SWOTs is important because we can plan our objectives for each project and stay on target to achieve the objective to satisfy our customer¡¦s expectations of Xmultiple's support and service.

The following are the steps Xmultiple takes for each customers and their project.

1. We assess whether the objective is attainable, given the SWOTs. If the objective is not attainable a different objective is set to achieve success.

2. As part of the SWOT analysis procedure, we ask and answer questions related to the customers project that generate meaningful information for each category (strengths, weaknesses, opportunities, and threats) to make the analysis useful and find their competitive advantage.

 

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