Assessment 2: swot analysis | Accounting homework help

 Conduct an environmental scan and write an assessment in which you focus on both the internal and external factors that could affect your success within your chosen industry.

Introduction

After an organization has completed a SWOT analysis, it will carefully monitor both the internal and external environments to detect signs of opportunities and threats that could affect current and future plans. This environmental scanning can help an organization identify trends that are most likely to affect the industry, thereby allowing the development of a strategy for change. The right information, at the right time, can determine the future of an organization.

Note: Developing a strategic plan requires specific steps that need to be executed in a sequence. The assessments in this course are presented in order and should be completed in sequence.

Conduct a personal strengths, weaknesses, opportunities, and threats (SWOT) analysis. In your analysis, consider the following:

Strengths

  • What advantages do you have that others do not (skills, education, experience, certifications)?
  • What achievements are you most proud of?
  • What do you do better than anyone else?
  • What do you think others would see as your strengths?
  • Do you have special connections that others may not have?
  • What personal resources do you have available?

Be sure to consider how others see you—not just how you see yourself.

Weaknesses

  • Are there tasks you avoid doing because you do not feel confident doing them?
  • Do you have any negative work habits (often late, disorganized, easily stressed)?
  • Do you feel confident about your skills, experience, and education?
  • Do you have any personality traits that might hold you back? For example, do you have a fear of public speaking, yet work where you are expected to conduct regular meetings?

Again, consider how others see you.

Opportunities

  • Do you have a network of influential contacts that can help or offer advice?
  • Is there a need in your company or industry that no one else has been able to fill?
  • Are there trends in your company that you can use to your advantage?
  • Can you offer solutions to problems within your company?

Threats

  • What kind of obstacles are you facing at work?
  • Are there co-workers/colleagues competing with you for positions or projects?
  • Has the nature of your job changed?
  • Does technology pose a threat to your position?
  • Do any of your weaknesses pose a threat?
  • What threats to your overall plan are there?

Once you have completed your SWOT analysis, identify strategies that you can use to capitalize on your strengths and open up opportunities, and address ways you can minimize areas of weakness and eliminate threats. Consider asking a trusted peer or friend to review your SWOT analysis and provide you with honest feedback. Analyze the feedback you receive and include that analysis in your assessment. Were there aspects of the feedback that surprised you?

To successfully complete this assessment, you may need to do some research on writing a SWOT analysis. Format this assessment as a research paper following current APA guidelines for both style and citing sources, making sure that you also use correct grammar and mechanics. There is no required minimum or maximum page length; however, you should strive to be as detailed as possible in addressing each bullet point, while also being as clear and concise as possible.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies:

  • Competency 3: Communicate effectively.
    • Write coherently to support a central idea in appropriate format with correct grammar, usage, and mechanics.
  • Competency 4: Plan strategically.
    • Describe strategies to use SWOT analysis to improve competitive advantage.
  • Competency 5: Employ high-performance business management techniques.
    • Analyze strengths to determine competitive advantages.
    • Analyze opportunities that may be leveraged for competitive advantage.
    • Analyze threats to competitive advantage.
  • Competency 6: Solve problems within professional standards.
    • Analyze weaknesses to determine areas for improvement.
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