Definition of Situation Analysis Situation analysis is defined as an analysis of the internal and external factors of a business. It clearly identifies a business’s capabilities, customers, potential customers and business environment, and their impact on the company.
To prepare a situation analysis , you must consider challenges and trends that can affect your marketing program, be prepared for economic cycles, and review your competition’s current status. After you identify these threats and opportunities, you need to give some serious thought to how to respond to them.
Steps Step 1: Identify the Health Issue. Step 2: Develop a Problem Statement. Step 3: Draft a Shared Vision. Step 4: Conduct a Desk Review. Step 5: Decide the Scope of the Review. Step 6: Identify the Relevant Information. Step 7: Review and Organize the Data. Step 8: Analyze the Data and Summarize the Findings.
SWOT . A SWOT Analysis is another method under the situation analysis that examines the Strengths and Weaknesses of a company (internal environment) as well as the Opportunities and Threats within the market (external environment).
The Market Situation section of your plan includes research and analysis of your target market , competitors, business challenges, and your company’s competitive differentiators. This section should describe your company’s strengths and weaknesses, as well as opportunities and threats you face.
The situation analysis or audit, described as the ‘where are we now’, is the means by which a company can identify its own strengths and weaknesses as they relate to external opportunities and threats.
The 5Cs are Company, Collaborators, Customers, Competitors, and Context.
Five key components of the organization’s specific business environment are examined. These are customers, competitors, suppliers, and government and legal issues—including regulations and advocacy or support groups. The analysis looks at what impact these factors may have on a specific organization or business.
“ Situational analysis ” helps develop a basis of understanding of the environment in which a plan is delivered. This can help identify where the potential weaknesses in the plan are, enabling responses to be developed if necessary before irreparable damage is done.
A situation analysis is a detailed examination of a company’s market presence based on internal and external factors. It examines a business’s current and potential customers and how they respond to the company’s products and services.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal to your company—things that you have some control over and can change. Examples include who is on your team, your patents and intellectual property, and your location.
Writing a Case Study Analysis Read and Examine the Case Thoroughly. Take notes, highlight relevant facts, underline key problems. Focus Your Analysis . Identify two to five key problems. Uncover Possible Solutions/Changes Needed. Review course readings, discussions, outside research, your experience. Select the Best Solution.
Situation analysis is basically the process of critically evaluating the internal and external conditions that affect an organization, which is done prior to a new initiative or project. It provides the knowledge to identify the current opportunities and challenges to your organization, service or product.
It describes a description of the company , the marketing plans in place and goals for the future. It also states the company’s mission statement. The current business situation is one section in the plan describing the company’s current state of market.
It is an acronym for Smith’s six fundamental facets of marketing : situation, objectives, strategy, tactics, action and control. The structure of SOSTAC is a simple logic that builds on an in-depth Situation Analysis which informs subsequent decisions made about strategy and tactics.