SWOT analysis – are sources necessary for strategy derivation?
Hello, I have to write a paper about a random company and need to find two testimonials (brand ambassadors). I'm supposed to conduct a SWOT analysis for it…
- Question: When assessing strengths and weaknesses, you typically consider the company's internal factors. But since this is a partnership context, can you also include the strengths/weaknesses of testimonials?
- Question: After completing the SWOT analysis, I need to derive strategies from it. Do I need sources for this? For example, if I now derive the strategy of preparing a detailed cost plan in advance from the risk (very high costs), do I need a source for the cost plan aspect? Or is it logical that I derived this from the SWOT analysis and came up with it myself.
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When deriving strategies from a SWOT analysis, it is usually not necessary to make source information. The SWOT analysis serves to identify internal strengths and weaknesses as well as external opportunities and risks to develop strategic measures based on them. If, for example, due to the identified weakness, you develop high costs to create a detailed cost plan, it is not necessary to provide a source for this specific aspect. It is assumed that this strategy was derived from the analysis of internal factors.
With regard to the inclusion of the strengths and weaknesses of the testimonials in the SWOT analysis for a partnership project, it may be useful to consider these aspects, as the testimonials may have a direct influence on the success of the partnership. It is important to consider all relevant internal and external factors to derive sound strategies.