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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: 31-01-2019
Notification No. 83/ 2018 - Customs
Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to provide deeper tariff concessions in respect of specified goods imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA) w.e.f. 01.01.2019.

Date: 31-01-2019
Notification No. 84/2018-Customs
Seeks to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 01.01.2019.

Date: 14-01-2019
Policy Circular No . 17/2015--2020
Additional extension of six months in the Export Obligation Period (EOP) (beyond permissible extension period in Para 4.42 of the HBP) to advance authorizations issued upto 30.06.2016 involving import of Raw cashew (SION E S) relaxation of Policy/ Procedure.

Date: 11-01-2019
Notification No.3/2019 - Customs (N.T.)
Exchange Rates Notification No.3/2019-Custom(NT) dated 11.1.2019.

Date: 11-01-2019
Trade Notice No. 42/2015-2020
Mandatory recording of information on DGFT website about transfer of MEIS/SEIS Scrips issued from 14.1.2019 onwards (for EDI ports only)

Date: 10-01-2019
Public Notice N0. 69/2015-2020
Amendment in Standard Input-Output Norms (SION) at S.No. H-97

Date: 10-01-2019
Notification No. 53/2015-20
Amendment in Para 4.14 and 4.16 (ii) of the Foreign Trade Policy 2015-20

Date: 10-01-2019
Notification No. 01/2019 - Customs
Seeks to remove pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess for materials imported against Advance Authorizations and Advance Authorizations for Annual Requirement

Date: 09-01-2019
Policy Circular No.16 /2015--2020
Guidelines to RAs for following Standard Operating Procedure (SOP) for EODC monitoring of both Advance as well as EPCG authorizations using software in website http://eodc.online - Reg.

Date: 09-01-2019
Public Notice No 68/2015-2020
Directives for processing of application for MEIS claims under Foreign Trade Policy 2015-20



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