Building a Strong Brand with Association – Red Bull Case Study

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As we can conclude, Skoda has to cope with many different threats but from point of view they analyse and solve them very effective and fast.

What in your view are the important benefits of using a SWOT analysis

The main goal to conduct a SWOT is to determine the strengths, weaknesses, opportunities and threats of a company. When a company or manager is fully aware of these 4, it will help to develop the most effective or-orate strategy, which will contribute in developing the most effective and successful strategic planning. In my opinion the major benefits of a SWOT are:

- It provides a a framework for the company to identify and analyse strengths, weaknesses, opportunities and threats.

- It is cost-effective because you don’t need an extensive training or technical skills

- It promotes discussion because you will discuss the cores strengths and weaknesses of the company which will help you to identify the threats and capatlize the opportunies

- It can analyse a situation and develop suitable strategies and tactics.

- The company has a basis to assess core capabilities and competences.

- Gives a visual overview

- Offers quick and new insights in the company and the market. New and existing employees get a good overview of the market and company and all the aspects that still can be enhanced.

- It gives a clear overview to the company so it allow them achieve business objectives faster and more cost efficient

- SWOT analysis allows a company to create matching and converting strategies

- Provides motivation to employees to work on the company and to upgrade the business plan and objectives.

- SWOT analysis highlights on the company’s existing resources which may have been ignored or have not been used as efficient possible

- It gives a good insight on the skills, capabilities, attitudes, abilities and capacities

I am convinced that if performed correctly, a SWOT analysis not only organizes information and data but also uncovers competitive advantages of a company, so they utilise them to to gain leverage over its competitors in the market, enhance their profitability and unleash its full potential.