SWOT analysis / bussines english

INTRODUCTION
Planning as a basic function of management

Planning is the first phase of management which is the condition of the existence of all other phases, but also the existence of the plan is conditioned by other phases. Perform of other management functions is conditioned by the quality of planning decisions. In business, planning function is very important because by it considers the current state of the company, determine the future tasks and goals on which to direct the company and end up finding the most appropriate and the most affordable way to execute these tasks, with the purpose of successful business of enterprise. As part of planning, various means of analysis and research including the most important – competition analysis, market research and SWOT analysis.

Introduction to SWOT analysis

SWOT analysis is a tool for exploring the situation in a company or in a sector of the company. Using this analysis we can determine where the company is the strongest, where is the weakest, is there any space for growth and development and are there dangers that threaten it. Also, in this way the environment can be better comprehend. Data obtained in this analysis can be used for decisions that are strategically important, for the formulation of the mission and vision of the company, identification of priority actions in the following period, etc.
SWOT analysis is always good to do more people from the company or sector, because it takes time and many people are usually smarter than one. Also, in this analysis, the objectivity is necessary – it is impossible that your company has no defects or hazards that needs to pay attention.