| MARK 4465: Marketing Management |
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| Harrington’s SWOT Analysis |
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| Description: |
SWOT analysis was developed by the middle of the 1960s for large organisations to determine the strategic fit between an organisation’s internal, distinctive capabilities and external possibilities and to prioritise actions. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. |
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| The acronym’s definitions are:
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- Strengths
those potential factors that make a firm more competitive than its direct competitors;
- Weaknesses
both potential limitations and defects ingrained in an organisation and/or weak factors relative to direct competitors;
3. Opportunities
future factors that allow the organisation to improve its relative competitive position;
4. Threats
those future factors that reduce the firm’s relative competitive position.
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| The steps in the common three phase SWOT analysis process are: |
- Identify external issues relevant to the firm’s strategic position in the industry and the general environment at large with the understanding that opportunities and threats are factors that management cannot directly influence.
- Identify internal issues relevant to the firm’s strategic position.
- Analyse and rank the external issues according to probability and impact.
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| Task |
Complete a SWOT analysis for Harrington’s using the template below as a guide. |
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Harrington’s – SWOT Template
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Strengths
- Advantages of proposition?
- Capabilities?
- Competitive advantages?
- USP’s (unique selling points)?
- Resources, Assets, People?
- Experience, knowledge, data?
- Financial reserves, likely returns?
- Marketing – reach, distribution, awareness?
- Innovative aspects?
- Location and geographical?
- Price, value, quality?
- Accreditations, qualifications, certifications?
- Processes, systems, IT, communications?
- Cultural, attitudinal, behavioural?
- Management cover, succession?
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Weaknesses
- Disadvantages of proposition?
- Gaps in capabilities?
- Lack of competitive strength?
- Reputation, presence and reach?
- Financials?
- Own known vulnerabilities?
- Timescales, deadlines and pressures?
- Cashflow, start-up cash-drain?
- Continuity, supply chain robustness?
- Effects on core activities, distraction?
- Reliability of data, plan predictability?
- Morale, commitment, leadership?
- Accreditations, etc?
- Processes and systems, etc?
- Management cover, succession?
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Opportunities
- Market developments?
- Competitors’ vulnerabilities?
- Industry or lifestyle trends?
- Technology development and innovation?
- Global influences?
- New markets, vertical, horizontal?
- Niche target markets?
- Geographical, export, import?
- New USP’s?
- Tactics – surprise, major contracts, etc?
- Business and product development?
- Information and research?
- Partnerships, agencies, distribution?
- Volumes, production, economies?
- Seasonal, weather, fashion influences?
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Threats
- Political effects?
- Legislative effects?
- Environmental effects?
- IT developments?
- Competitor intentions – various?
- Market demand?
- New technologies, services, ideas?
- Vital contracts and partners?
- Sustaining internal capabilities?
- Obstacles faced?
- Insurmountable weaknesses?
- Loss of key staff?
- Sustainable financial backing?
- Economy – home, abroad?
- Seasonality, weather effects?
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