Essay about The First Letter Of The Acronym Swot
The second letter of the acronym SWOT, stands for internal Weaknesses of an organization. Weaknesses can be either nonexistence of certain strengths or opposing side of an existing strength that is likely to cause a negative effect for a business. The weaknesses recognized in a SWOT analysis emphasis the areas an organization can improve upon to ensure stability of brand image, reputation and sales. It is important for a business as these are ‘internal’ and in direct control of the company.
Firstly, the key weakness of Foundation for Youth Development is the Limited Budget for Marketing (N. Davis, personal communication, March 13, 2015). Budgetary restrictions can be a substantial hindrance for an organization such as FYD which is striving to develop their brand image and attract more donors. This has limited FYD’s access to effective marketing tools, leaving them to vastly depend on volunteers (ex. marketing and research students of University of Auckland and Massey University), pro bono advertising (ex. TVNZ, Ogilvy, Robber’s Dog) and also to utilize only a very limited set of marketing tools (ex. direct mail, newsletters, Public Relations, Online Marketing, YouTube, Facebook, Twitter and other social media tools) which are mainly low cost and could also be less effective compared to other, more complex marketing tools.
Secondly, having Low Human Resource in the Marketing Department is also another key weakness faced by FYD (N. Davis, personal…