SWOT

[Sergey]

Hello

I know that SWOT stands for "Strength, Weakness, Opportunities, and Threats". But what does it mean? I know that it has something to do with business.

Sergey

[nikita]

Hello Sergey,

I must admit that this term is new to me too. Here is the link which explains it really nicely.
http://www.bnet.com/abstract.aspx?cid=1 ... ocid=74622

The term SWOT means Strength, Weakness, Opportunities, and Threats. It is used in order to evaluate the performance of different companies. The strengths include the available right tools or resources, unique selling proposition etc. On the other hand, weakness points out the things that are needed and the company is lacking. Opportunities points out the new situations coming down the road that one can take advantage of (new programs being offered, new faculty joining the department, new tools available to a company), the gaps in the “market” that one can fill etc. Threat gives the idea of competitors, environmental changes etc. Companies should capitalize on the strengths, minimize the weakness, take the advantage of some new opportunities, and respond to the threats.

Feel free to ask me if you need any more help.

Nikita Kovalyov
http://www.eclecticenglish.com/

[Sergey]

Thanks Nikita.

Just one more question. What is the difference between "market niche" and "niche market"?

Sergey

[nikita]

Hello,

Don't worry. Go ahead with your questions.

Apparently, they are synonyms. At least that is what About.COM says:
http://sbinfocanada.about.com/cs/market ... market.htm

NICHE MARKET
Also Known As: Market niche, niche marketing, niche business.
Examples: Establishing a niche market give you the opportunity to provide products and services to a group that other businesses have overlooked.

A niche market is a focused, targetable portion of a market.

You can read more about "niche market" and "market niche" on About.COM website.

Cheerio.

Nikita Kovalyov
http://www.eclecticenglish.com/

[nikita]

Hello,

Out of the blue I bumped into an article on "SWAT Analysis" in Wikipedia.

Here is what they say there:

A SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture or in any other situation requiring a decision.

See the entire article at http://en.wikipedia.org/wiki/SWOT_Analysis

There is even the SWOT Diagram http://www.flickr.com/photos/51072101@N00/91829174/

Nikita