The Value and Basics of SWOT Analysis: An Overview

The video tutorial explains SWOT analysis, detailing its components: strengths, weaknesses, opportunities, and threats. Internal factors like strengths and weaknesses are contrasted with external factors such as opportunities and threats, often analyzed using PESTLE. A ship analogy illustrates how internal and external factors affect a business. The tutorial applies SWOT to Sainsbury's, highlighting its strengths, weaknesses, opportunities, and threats. It concludes with the benefits and limitations of SWOT, emphasizing its role in strategic decision-making but noting its time-consuming nature and inability to dictate final decisions.

What does each letter in SWOT stand for?

How are strengths and weaknesses determined in a business?

What external factors are considered in SWOT analysis?

Explain the analogy of the ship in relation to SWOT analysis.

What are some internal weaknesses of Sainsbury's as mentioned in the text?

How can SWOT analysis help in decision making for a business?

What are some limitations of SWOT analysis as discussed in the text?