SWOT analysis draws the critical strengths, weaknesses, opportunities, and threats (SWOT) from the strategic audit. The audit contains a wealth of data of differing importance and reliability. SWOT analysis distills these data to show the critical items from the internal and external audits.
Opportunities and Threats
Managers need to identify the main threats and opportunities that their company faces. The purpose of the analysis is to make the manager anticipate important developments that can have an impact on the firm. A large pet food division of a multinational company.
• Economic climate. Because of improved economic conditions, pet ownership is increasing in almost all segments of the population.
• Demographic clarinet?. (1) Increasing single parenthood, dual-income families, and aging will increase the trend towards convenient pet foods (from wet to dry); and (2) the aged population will grow and increasingly keep pets as company.
• Market. The pet food market will follow the human market in the concern for healthy eating and pre-prepared luxury foods,
• Technology. New forms of pet food that are low in fat and calories, yet highly nutritious and tasty, will soon emerge. These products will appeal strongly to many of today's pet food buyers, whose health concerns extend to their pets.
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