RYANAIR’S SWOT ANALYSIS
SWOT Analysis is a method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a or in a venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. A SWOT analysis may be incorporated into the model. It is focused on choices and capability of organisation.
- Strengths: attributes of the person or company that are helpful to achieving the objective.
- Weaknesses: attributes of the person or company that are harmful to achieving the objective.
- Opportunities: external conditions that are helpful to achieving the objective.
- Threats: external conditions which could do damage to the business's performance.
Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs.
If, on the other hand, the objective seems attainable, the SWOTs are used as inputs to the creative generation of possible strategies, by asking and answering each of the following four questions, many times:
- How can we Use and Capitalize on each Strength?
- How can we Improve each Weakness?
- How can we Exploit and Benefit from each Opportunity?
- How can we Mitigate each Threat?
