Research Paper on:
Using a SWOT Analysis

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external environment as well as help to formulate strategy, but it is still and effective tool. If we look at the way a SWOT analysis can be used the value  can be appreciated. A SWOT analysis looks at strengths weaknesses opportunities and threats, in some models the first two factors are predominantly seen as internal and the second are  predominately external, but this should not be seen as a limitation. Strengths are the companies strengths including but not limited to the core competences, this may be brand image,  size and ability to gain economies of scope and scale. Competitive advantages are going to be in this section as they are strength regardless of whether they are differentiation or  cost advantages (Mintzberg et al, 2003). For example, a company such as McDonalds has a single global image, with a high level of bargaining power and the advantage of economies  of scale. Other strengths may include internal strengths such as established and comprehensive training systems or good research and development for new products. Weaknesses are the areas were there  are potential vulnerabilities, for example, the global single image may be an advantage for McDonalds in many circumstances, but in the event of the attack on Iraq the Americanised image  was a weakness in some area. Issues such as high staff turnover, the late stage in the product life cycle or even simply some management skills may be weaknesses.  Opportunities are areas where a company may seek to make improvements or gain an advantage. For example there may be markets that desire Americanised goods but where there company does  not have restaurants, there may be low interest rates making it cheap to borrow money in order to expand. There is a cross over between the strengths and the