In order to determine the attractiveness of a market a company must gain an understanding of the opportunities and threats as they relate to that organization’s own strengths and weaknesses. One way to do this is through a SWOT analysis. The purpose of conducting a SWOT analysis is to identify positive forces that can be used to the benefit of the company and potential problems that need to be addressed and possibly eliminated. The SWOT analysis begins by conducting an inventory of internal strengths and weaknesses in your organization. You will then note the external opportunities and threats that may affect the organization, based on your market and the overall environment. One of the readings this week is by Molitor. Molitor is a forecaster that compiled the Encyclopedia of the Future. The article by Molitor was written some time ago. It is included because it offers his views on the 21st century. You will find it interesting to see what has come true and what changes we can still expect. Books and Resources for this Week:
Gaile-Sarkane, E. (2010).
Molitor, G. T. (1998).
Alanis Business Academy. Episode 23: How to Complete a SWOT Analysis.
Berry, T. What is a SWOT Analysis?