Please select a fortune 500 company (Apple Inc.) you would like to conduct a SWOT Analysis on. The SWOT Analysis should demonstrate the following: Write a 3 -5 page APA paper describing the below steps for the company you select. You are to use at least 3 references (Include a Reference Page).
1. How to Conduct SWOT Analysis?
•SWOT stands for Strengths, Weaknesses, Opportunities and Threats. It is a way of summarizing the current state of a company and helping to devise a plan for the future. Regardless of whether you or your team are future planning for specific products, work, personal or any other area, the SWOT analysis process can be conducted with the following steps:
•Step 1 – List all strengths that exist now. Then in turn, list all weaknesses that exist now.
•Step 2 – List all opportunities that exist in the future. Opportunities are potential future strengths. Then in turn, list all threats that exist in the future. Threats are potential future weaknesses.
•Step 3 – Plan of action – Review your SWOT matrix with a view to creating an action plan to address each of the four areas.
1. Strengths need to be maintained, built upon or leveraged.
2. Weaknesses need to be remedied or stopped.
3. Opportunities need to be prioritized and optimized.
4. Threats need to be countered or minimized.