In the earlier blog we began our discussion about SWOT analysis, in todays blog we continue understanding the framework better.
Every organization has some weakness, but they possess some strengths as well. Any theory that is to be successful in assisting organizations gaining competitive advantage should look address all the four aspects of SWOT analysis. Any such theory would build on the firm's strength and use it to exloit the opportunitities and nutralize the threats, it also suggests how these firms could either avoid the weakness of fix them.
While the SWOT framework clearly highlights the importance of lookin at a theory from the 4 dimensions, it doesnt povide any guidance in identifying the four - this limits its utilitiy to management decision makers. The SWOT framwork does tell the firms what questions they should ask about the strategic theory they are pursuing. Asking the right questions is the key to a lot of knowledge and improvement in any field - mastering it takes a lot of effort.
SWOT is only an evaluatory framework for your theory, it doesnt give any ready made solution. It is the company which develops its strategy and SWOT helps analyze to make it more comprehensive.
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