Midterm-Lesson 5 Communication for Business Trade PDF

Group 3 Midterm-Lesson 5 Communication for Business Trade Let’s Achieve These! Identify strengths and needed skills for improvement Construct personal and business SWOT analyses Initializing In order to prepare you in the glob...

Group 3 Midterm-Lesson 5 Communication for Business Trade Let’s Achieve These! Identify strengths and needed skills for improvement Construct personal and business SWOT analyses Initializing In order to prepare you in the global work force, you must prepare yourselves to the demand of the industry, and one way of achieving this is through enhancing your English communication skills. As university students, you need to develop your expertise on how to sell an idea in a product presentation, project proposal, and other opportunities of making networks and connections in business. Enhancing your craft in oral presentations will make you succeed in your future internships and future career. Concept Grounding A. Definition and Relevance A SWOT analysis or SWOT matrix is a diagram that shows an organization or person’s key Strengths, Weaknesses, Opportunities, and Threats. Doing this type of analysis, any organization, corporation, or company can innovate or adapt new ways or strategies to put itself better in the corporate world. B. Internal factors vs External factors 1. Internal factors. Internal factors are things that we can control. An example is when workers in a company spend time and effort on fixing computer crashes. As a solution to this problem, the employees could be trained or better software could be purchased. 2. External factors. External factors are things we cannot control. For example is inflation rate of goods due to government regulations. 8 C. Benefits of SWOT analysis 1. SWOT analyses identify any company or organization’s capabilities and resources. Moreover, they also provide a look at the organization’s competitive environment. 2. Based on the result of SWOT analysis, the company can create a better marketing strategy. 3. A SWOT analysis can create a new venture or new opportunities for the company especially the ones that are not yet explored. 4. This can be an aid for the managers and directors reduce threats by understanding their company’s current weaknesses. 5. This can be used by the people in a company as a planning technique. 6. Individuals who like to develop their careers can do SWOT analysis for it identifies their skills, opportunities, and abilities. D. How to make SWOT analyses 1. Make sure that the analysis heads to the right path or direction by defining your objective. If your study focuses on what matters, this will eventually provide you a right strategy. 2. Focus on the internal and external factors. a. Strengths. Identify the things that do better in your company rather that the competition. Are the people familiar to your products or brand? What is your competitive advantage? Which one from your internal resources is doing best or the one that excels in all aspects or intellectual property or human resources? b. Weaknesses. In what areas are your competitors outclassing your company? What holds your business back? Are there any things you can avoid? Does your business lack something? Or weakness? For example, it may not have enough suitably-skilled workers. This is an area that you can control. c. Opportunities. Opportunities can help your company grow. Can you turn any changes in technology, laws, or society, for example, into an opportunity? Consumers today are more aware of and interested in the quality of life. d. Threats. Are there obstacles stopping your company from growing? What are these rules, regulations, or technology that impedes your business? Some aspects of society may also represent obstacles. Is inflation rate a threat to the business? 9 E. Matrix SWOT Analysis of a Coffee Shop GROUP 3- You must create your SWOT Analysis and present it to the class. References: Wakat G. et al. (2018) Purposive Communication. Quezon City, PH: Lorimar Publishing Barrot J. and Sipacio P. (2018) Purposive Communication in the 21st Century. Quezon City, PH: C & E Publishing Inc. 10