Question
Please help me with SWOT Analysis of FARFETCH. It has Strengths, Weakness, Opportunities and Threats. No word limit. What Is SWOT Analysis? SWOT (strengths, weaknesses,
Please help me with SWOT Analysis of FARFETCH. It has Strengths, Weakness, Opportunities and Threats. No word limit.
What Is SWOT Analysis?
SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate acompany's competitive positionand to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential.
A SWOT analysis is designed to facilitate a realistic, fact-based, data-driven look at the strengths and weaknesses of an organization, its initiatives, or an industry. The organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead focusing on real-life contexts. Companies should use it as a guide and not necessarily as a prescription.
KEY TAKEAWAYS
- SWOT analysis is a strategic planning technique that provides assessment tools.
- Identifying core strengths, weaknesses, opportunities, and threats lead to fact-based analysis, fresh perspectives and new ideas.
- SWOT analysis works best when diverse groups or voices within an organization are free to provide realistic data points rather than prescribed messaging.
- Strengthsdescribe what an organization excels at and whatseparates it from the competition: a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on. For example, a hedge fund may have developed a proprietary trading strategy that returns market-beating results. It must then decide how to use those results to attract new investors.
- Weaknessesstop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive: a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital.
- Opportunitiesrefer to favorable external factors that could give an organization a competitive advantage. For example, if a country cutstariffs, a car manufacturer canexport its cars into a new market, increasing sales andmarket share.
- Threatsrefer to factors that have the potential to harm an organization. For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. Other common threats include things like rising costs for materials, increasing competition, tight labor supply and so on.
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