Lesson 1 -_swot_analysis

What is your personal goal?

What is helping or hindering you from achieving that

goal?

1 minute: Think about it 2 minutes: Discuss with the

person next to you

Develop DiscussionO Which factors are in your control?O Which factors are our of your

control?

SWOT ANALYSIS

Learning ObjectivesO ALL (C) : Will know the purpose of a SWOT

Analysis and remember how to assign internal and external factors correctly

O MOST (B) : Will understand how the SWOT analysis benefits a business and will determine potential risks and rewards

O SOME (A) : Will analyse a business using a SWOT and determine strategic objectives

SWOT ANALYSISWhat is it?

O A planning toolO Assesses for potential risks and rewardsO Considers effectiveness/ success in

relation to the business environmentO Evaluate and adjust strategiesO Helps a company to operate in a

competitive environment.

SWOT ANALYSIS

What does it SWOT actually mean?

SWOT

StrengthsWeaknessesOpportunitiesThreats

SWOT ANALYSIS

Strengths (Internal)

What the business is

good at that may

help

Weaknesses (Internal)

What the business is bad at that may harm

You have control over INTERNAL

factors

SWOT ANALYSIS

Opportunities

(External)

Factors outside the

business that may

help

Threats(External)

Factors outside the

business that may

harm

You have NO control over

EXTERNAL factors

TASK: Discuss in Pairs

Can you work out where you would put the following factors on the SWOT analysis: 4

minutes GO!

1. Competitor has gone bankrupt

2. Experienced workforce

3. High production costs

4. New competitor5. Growth in demand

for your product6. Poor location7. Increased income

tax8. Loyal customers

How many did you get right?

Task One: 10 MinutesUsing what we have just discussed–

Complete Task Sheet 1

EXTENSION TASK: O Using Question 5: O Suggest the risks OR rewards for each factor

EG: Poor staff training: risk- poor customer service may result in decline in sales and therefore profit

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TASK : Complete Sheet One

EXTENSION TASK: Using Question 5: Suggest the risks or rewards for each factorEG: Poor staff training: risk- poor customer service may result in decline in sales and therefore profit

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Answers

Q1: BQ2: CQ3: AQ4: D

OQ5: A) SB) OC) WD) TE) O/TF) T

G) SH) WI) SJ) TK) SL) T

SWITCH SHEETS

SWOT: Why do it?OTo help the business set objectivesOTo identify the strategies that will

help achieve these objectivesOTo observe positive and negative

factors inside and outside the firm that affect the success.

OTo predict the change in trends and help in the decision-making process of the organisation.

Task Two: 10 Minutes O Think back to the beginning of the lessonO Your personal goalO Using ‘Task Sheet 2’O Conduct a SWOT analysis based on this

goal

Example Goals:O Achieve IB DiplomaO Go to UniversityO Become a Ballet dancer

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TASK : Complete Sheet Two

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Your Goal: SWOT Analysis

O What did you discover?O Is achieving this goal effected more by

internal or external factors?O Internal factors: you have control of,

what can you do increase your chances of achieving your aim?

O External factors: you have no control of, but, what can you do to benefit from the external positives? What can you do to limit the impact of external negatives?

DEVELOPMENTUsing your SWOT analysis highlight risks/ rewards for as many factors as you can:EG: Goal : To buy a new bike by JulyO Strength: I am hard working Reward: I can earn more tips towards my bikeO Weakness: I spend too much on junk food Risk: This will reduce how much I can saveO Opportunity: Minimum wage is rising Reward: I can save more moneyO Threat: The coffee shop I work in isn’t doing well

and may reduce my hours Risk: I will have less money coming in

FURTHER DEVELOPMENTUsing your SWOT, risks and rewards, try and set 3 objectives to help you achieve your goal:

EG- Weakness: I spend too much on junk food Risk: This will reduce how much I can save

OBJECTIVE: Spend no money of sweets etc in the week. Only £5 at the weekend on sweets/ snacks.

Application to business

Learning ObjectivesO ALL (C) : Will know the purpose

of a SWOT Analysis and remember how to assign internal and external factors correctly

O MOST (B) : Will understand how the SWOT analysis benefits a business and will determine potential risks and rewards

O SOME (A) : will analyse a business using a SWOT and determine strategic objectives

Demonstrate by:Labelling the McDonalds SWOT and assigning the factors correctly

Demonstrate by:As above- including completing the risks and rewards

Demonstrate by:As above including completing the objectives

Business

Lesson 1 -_swot_analysis