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SWOT: Apple Inc

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Perform a SWOT Analysis on Apple Inc
1.Explain the importance of a SWOT analysis
2.Research Apple and write in complete paragraphs to explain Apple's: Strengths, Weaknesses, Opportunities and Threats. How do these impact this company?
3.What should management do to overcome the weaknesses and threats?
4.How can this company take advantage of the strengths and opportunities?

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Body1. It is important to carry out a SWOT analysis because it helps recognize the company's capabilities and consider its competitive advantages in the marketplace. it points out the factors that make the company special. It also helps your company to improve its business by identifying the company's weaknesses. If the flaws are identified, then action can be taken to reduce the flaws (Milorad M. Novicevic, Michael Harvey, Chad W. Autry, Edward U. Bond III, 2004). For example, the company has the flaw of a poorly qualified workforce. The company may recruit people who are more qualified and undertake training programs for the current employees of the company. The importance of the SWOT is that it covers different aspects of the business and gives a well rounded point of view on the business' current situation. It helps a firm develop a strategic plan. If a firm knows the opportunities in the environment, it develops a strategic plan to avail itself of the opportunities in the environment. From the SWOT the firm knows how to exploit the opportunity (Marilyn M. Helms, Judy Nixon, 2010). For example, if a firm identifies special needs in a segment, it modifies its product for that segment and increases its revenues. SWOT is a tool that is used for strategic planning, opportunity analysis, or competitive analysis. SWOT is so versatile that it can be applied to a business, organization, a business unit, a work group, or even an individual. For example, if the strengths, weaknesses, opportunities, and threats of a person are listed it helps him develop his career and personal plan. Similarly, if the SWOT is developed of a popular company it helps analyze the current strategy, market position, and prospects of the company. The SWOT analysis is important for a company because it provides an all around view of the company's current situation and is forward looking. Each of the four sections of a SWOT is important. Strengths are important because it allows the firm to consider its competitive advantages. These are related to the company's operations and its markets (Ravi Agarwal, Wolfgang Grassl, Joy Pahl, 2012). For example, a company has innovative researchers, the company can launch new products regularly or it can update its current products frequently. It is important for a firm to assess its weaknesses. Understanding weaknesses makes it easier to deal with them. The ...

Solution Summary

The response provides you a structured explanation of a SWOT on Apple Inc . It also gives you the relevant references.