SWOT analysis

SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business 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 achieve that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies. A SWOT analysis must first start with defining a desired end state or objective. A SWOT analysis may be incorporated into the strategic planning model. Strategic Planning has been the subject of much research. Strengths: characteristics of the business or team that give it an advantage over others in the industry. Weaknesses: are characteristics that place the firm at a disadvantage relative to others. Opportunities: external chances to make greater sales or profits in the environment. Threats: external elements in the environment that could cause trouble for the business.

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. First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must be selected and the process repeated. The SWOT analysis is often used in academia to highlight and identify strengths, weaknesses, opportunities and threats.It is particularly helpful in identifying areas for development.

Internal and external factors

The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories: Internal factors The strengths and weaknesses internal to the organization. External factors The opportunities and threats presented by the external environment to the organization.

The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organization's objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The factors may include all of the 4P's; as well as personnel, finance, manufacturing capabilities, and so on. The external factors may include macroeconomic matters, technological change, legislation, and sociocultural changes, as well as changes in the marketplace or competitive position. The results are often presented in the form of a matrix. SWOT analysis is just one method of categorization and has its own weaknesses. For example, it may tend to persuade companies to compile lists rather than think about what is actually important in achieving objectives. It also presents the resulting lists uncritically and without clear prioritization so that, for example, weak opportunities may appear to balance strong threats. It is prudent not to eliminate too quickly any candidate SWOT entry. The importance of individual SWOTs will be revealed by the value of the strategies it generates. A SWOT item that produces valuable strategies is important. A SWOT item that generates no strategies is not important.

Use of SWOT analysis

The usefulness of SWOT analysis is not limited to profit-seeking organizations. SWOT analysis may be used in any decision-making situation when a desired end-state (objective) has been defined. Examples include: non-profit organizations, governmental units, and individuals. SWOT analysis may also be used in pre-crisis planning and preventive crisis management. SWOT analysis may also be used in creating a recommendation during a viability study/survey.

Onida Electronics
Onida BSE: 500279 is an electronics brand, based in India. It was established as "MIRC Electronics" in 1981.

History
Onida was started by G.L. Mirchandani and Vijay Mansukhani in 1981 in Mumbai.[4] In 1982, Onida started assembling television sets at their factory in Andheri, Mumbai. Since then, Onida has evolved into a multi-product company in the consumer durables and appliances sector. Onida achieved a 100% growth in ACs and microwave ovens and a 40% growth in washing machines last year. ONIDA came out with the famous caption 'Neighbour's envy, Owner's Pride', another popular theme of the ads was a devil complete with horns and tail in the 1980s. The devil was replaced by a married coupleSiddharth and Ritu.[5]

Onida has a network of 33 branch offices, 208 Customer Relation Centers and 41 depots spread across India.[6] As on 31 March 2005, Onida had a market capitalization of 301.46 crore. Mirc Electronics won an Award for Excellence in Electronics in 1999, from the Ministry of Information Technology, Government of India.[7] Onida with its Sales & Marketing office in Dubai reported a 215 per cent export growth in two years, setting the base for an increased robust international presence. The shipments to the Gulf contribute almost 65 per cent of Onida's export revenue, while shipments to the fast growing East African market (Uganda, Tanzania, Kenya and Ethiopia) and the SAARC countries accounted for 16 per cent of export revenues. In addition to the Gulf countries ONIDA has a presence in Russia, Ukraine and neighboring CIS countries. Apart from Television Exports to Russia, Onida also exports DVD Players and High end LCD Televisions.[8] Ranked 34th Most trusted brands in India according to The Brand Trust Report published by Trust Research Advisory.

Management

Mr. Gulu Mirchandani - (Chairman & Managing Director) Mr. Vijay Mansukhani - (Managing Director) Mr. G. Sundar - (Chief Executive Officer) Mr. S.K Dhoot - (Vice President - Operations) Mr. Sriram Krishnamurthy - (Vice President Corporate Strategy) Mr. Sugato Palit - (Vice President - Human Resources) Mr. Sanjeev K Jain - (Vice President - Sales & Service) Mr. Vipul Mathur - (Vice President Marketing) Mr. Manish Desai - (Vice President - Finance)