Industrial Engineering

In 1960,  Stanford University developed a technique is called SWOT analysis. This technique is used to identify important details of (1) Strengths, (2) Weaknesses, (3) Opportunities, and (4) Threads. Later this concept is applied in business and others sectors.   Outcomes of SWOT analysis 1. Strength: Identify that, what are the things a making strength. 2. Weakness: Identify that, what are the things that are causes for weakness. 3. Opportunity: Identify that, what are opportunities available to improve. 4. Threats: Identify that what are the things threats and which may be dangerous in the future.   Use of SWOT Analysis: The SWOT analysis is applicable in many areas. Example: Individual person, Product, Designs, Organization, Business, Project, Service, etc. End of the analyses we can get clear details of strengths, weaknesses, opportunities, and threats. Here the Weakness and threats are considered for immediate actions. These are fixed by taking ...