A way to tackle the issue of
detail in each point, by making sure each point is elaborated on and that each
point is supported by evidence in the form of stats. This will help business to
gather enough information to take decisive action.

A way to tackle the validity of
SWOT’s is to include the source of where they got their information from. This
will allow business to inspect the where the information came from and judge
whether the information is credible or not.

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A way to reduce this is by
combining SWOT’s with other Systems as mentioned before (Figure 3). This will
help business to tackle the most important issues first, as each point will be
given a numerical value, making it easy to rank.

–         
They
don’t fully explain each point in well enough detail

–         
They
don’t explain the which points are more important

–         
They
lack credibility and validity

The more important limitations in
SWOT’s are that:

How
to reduce the limitations of SWOT’s

Another drawback of this SWOT’s
is that some of the wording used may not be appropriate for a business context.
For example under Weakness it’s states that the E-series was a “flop”. This can
be problematic as informal language may be misinterpreted by Businesses. This
is because no particular skills or qualifications are required to create SWOT’s
therefore they aren’t standardized. This means that the quality of SWOT’s
varying depending on the writer. As a result businesses take action based on
misinterpreted information which could worsen their business rather than
improve it.

 

 

 

 

 

This particular
SWOT is problematic is that some points are elaborated on however others simply
has key words. For example under strengths is states “Strong customer
relation”. Even though this is true, there is no elaboration on this or
explanation for this strength. Nokia in the 1990’s to 2007 were indeed the
people’s favorite phone (). This is because their products appealed to many
demographics, such as the releasing the E-series (Figure 4) for business minds
and the N-gage (gaming console) (Figure 5) for the younger generation. This
highlights that SWOT’s don’t explain many of their points in detail, denying
business of contextual knowledge, which could be used to benefit their
business.

Figure 5

Figure 4-http://thenokiareview.com/phones/e-series/nokia-e6/
 

Generally SWOT’s are not
benifical because although they list points under the 4 categories they fail to
provide a level of importance for each point, unless they are combined with
other systems. This is an issue for companies as they don’t know what to focus
on. Another problem with SWOT’s is that they fail to mention where they source
their information form, therefore the credibility and validity of the
information comes into doubt. Another problem with SWOT’s is that they lack
evidence of for their claims; as a result companies don’t have concrete
quantifiable data to look at, and may be hesitant take the information at face
value.

The
drawbacks of SWOT

Another reason this SWOT is
benifical is because it briefly expands on the points it lists in the table.
For example under Weakness it lists “E-Series was a flop” and then elaborates
on this point. This is benifical because keywords by themselves tend to be
vague and provide no context or additional information to a company, therefore
decision making becomes difficult. However by providing relevant information,
companies can effectively take action.  

This specific SWOT is benifical
to Nokia because; it’s relatively recent (2016). This is useful because it
allows Nokia to receive up to date information on the market. For example under
threats, it states that “Samsung and Iphone will challenge their phone in 2016”.
This was accurate as during 2016 Samsung and Apple dominated the phone industry
(Figure 2). As a result Nokia will know who their current biggest competitors
are. Nokia have already taken steps to compete with other big brands. Their
release of the Nokia 3310 revamped was released in 2017, trying to target at
the older generation who previously owned the Nokia phones. Their aim was to re-associate
Nokia’s image with their glory days in the 2000’s when they were the biggest
phone brand.

 

 businesses by suggesting them what to
prioritize on (Figure 3).

SWOT’s are
generally benifical because they are a cost effective method of aiding business
in planning and for future growth of their company. They are relatively simple
enough understand and no special skills are needed to create a SWOT. SWOT’s can
also be added to other process such as ANP systems to evaluate the importance
of each factor, this helps

Figure 3- https://www.researchgate.net/profile/Joanna_Blach/publication/292931631_Financial_innovations_in_risk_management_-_enterprise_perspective/links/56b1f18b08ae795dd5c78d9d.pdfhttps://www.researchgate.net/profile/Joanna_Blach/publication/292931631_Financial_innovations_in_risk_management_-_enterprise_perspective/links/56b1f18b08ae795dd5c78d9d.pdf

The
benefits of SWOT