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  • SWOT Analysis in Export Business.
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    SWOT Analysis.


    Introduction

    SWOT analysis is a useful method of summaries all the information generated during the export planning. SWOT stands for strengths, weakness, opportunities and threats, which helps to isolate the strong and week areas within an export strategy. SWOT also indicates the future opportunities or threats that may exist in the chosen markets and is instrumental in strategy formulation and selection.

    To apply your own SWOT analysis, start by creating a heading for each category – ‘Strengths’, ‘Weaknesses’, ‘Opportunities’, and ‘Threats’. Under each of these, write a list of five relevant aspects of your business and external market environment. Strengths and weaknesses apply to internal aspects of your business; opportunities and threats relate to external research.

    Your final analysis should help you develop short and long term business goals and action plans, and help guide your market selection process.

    Environmental factors internal to the company can be classified as strengths or weaknesses, and those external to the company can be classified as opportunities or threats.

    Strengths

    Business strengths are its resources and capabilities that can be used as a basis for developing a competitive-advantage. Examples of such strengths include:

    • Patents
    • Strong brand names.
    • Good reputation among customers.
    • Cost advantages from proprietary know-how.
    • Exclusive access to high grade natural resources.
    • Favorable access to distribution networks.

    Weaknesses

    The absence of certain strengths may be viewed as a weakness. For example, each of the following may be considered weaknesses:

    • Lack of patent protection.
    • A weak brand name.
    • Poor reputation among customers.
    • High cost structure.
    • Lack of access to the best natural resources.
    • Lack of access to key distribution channels.

    Opportunities

    The external environmental analysis may reveal certain new opportunities for profit and growth. Some examples of such opportunities include:

    • An unfulfilled customer need.

    • Arrival of new technologies.

    • Loosening of regulations.

    • Removal of international trade barriers.

    Threats

    Changes in the external environmental also may present threats to the firm. Some examples of such threats include:

    • Shifts in consumer tastes away from the firm's products

    • Emergence of substitute products.

    • New regulations.
    • Increased trade barriers

    Successful SWOT Analysis

    Simple rules for successful SWOT analysis:

    • Be realistic about the strengths and weaknesses of the organization.
    • Analysis should distinguish between where the organization is today, and where it could be in the future.
    • Be specific.
    • Always analyse in relation to your competition i.e. better than or worse than your competition.
    • Keep your SWOT short and simple.

    A SWOT analysis can be very subjective, and is an excellent tool for indicating the negative factors first in order to turn them into positive factors.


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    What is New?

    Date: 26-09-2016
    Central Excise Notification No. 46/2016 CE (NT)
    Seeks to amend Notification No. 20/2016-CE (NT) dated 01.03.2016 [Central Excise (Removal of Goods at Concessional Rate of Duty for manufacture of Excisable and other Goods) Rules, 2016]

    Date: 26-09-2016
    Service Tax Notification No. 42/2016 (ST)
    Services by way of advancement of Yoga provided by entities registered under Section 12 AA of Income-tax Act, 1961.

    Date: 23-09-2016
    Trade Notice No. 18/2016
    Clarification in respect of definition of service provider under Common Service Providers (CSP) in Export Promotion Capital Goods (EPCG) scheme.

    Date: 23-09-2016
    Customs Notification No. 51/2016
    Seeks to further amend notification No.12/2012-Customs dated the 17th March, 2012, so as to: 1. Reduce import duty on potatoes from 30% to 10% up to 31.10.2016. 2. Reduce import duty on wheat from 25% to 10% up to 29.02.2017. 3. Reduce import duty on palm oil from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade.

    Date: 23-09-2016
    DGFT Public Notice No. 33/2015-2020
    Amendment in ANF-5A [Applicationj for issue of EPCG Authorisation ] incorporating the guideline for designating/certifying a Common Service Provider (CSP) under Para 5.02 (b) of FTP 2015-20-reg.

    Date: 23-09-2016
    Customs Notification No. 52/2016
    Seeks to further amend three Customs notifications namely 104/2009-Cus, 16/2015-Cus and 17/2015

    Date: 23-09-2016
    Customs Circular No. 45/2016
    Explains option extended by DGFT for surrendering one benefit in case of simultaneous issuance of SHIS and Zero duty EPCG/PE EPCG

    Date: 22-09-2016
    Customs Notification No. 122/2016 (NT)
    Rate of exchange of conversion of the foreign currency with effect from 23rd September, 2016

    Date: 22-09-2016
    Customs Circular No. 44/2016
    Regarding setting up of 'Custom Clearance Facilitation Committee' (CCFC) for Land customs stations and Inland Container Depots-reg

    Date: 22-09-2016
    Trade Notice No. 17/2016
    Refund of Terminal Excise Duty(TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not availabe.



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