Swot Analysis

ManagementDynamics,16(2),6271,2012

1

SWOT ANALYSIS OF LEATHER SHOES

MARKETS IN NEPAL

Abstract: This study aims to analyze the SWOT analysis of leather shoes markets in Nepal. It

is used a convenient sample of 12 including proprietors, chairman, directors and other

officers of different Nepalese leather shoes companies who have participated on workshop

program organized by MOI (Ministry of Industry) and LFGMN (Leather Footwear and

Goods Manufacturer' Association of Nepal) on Nagarkot, Kavre. Reliability analysis,

descriptive statistics and ranking were used to check the reliability, summarize and rank the

data. It is found that leather shoes markets are affecting from threats, weakness, strength,

opportunities and are ranked first, second, third, and last respectively. It means there are

more threats in the leather shoes markets but there are also strengths and opportunities to

pursue the opportunities. Internal environmental factors are dominantly affects on

performance of leather shoes companies than external environmental factors. It is clearly

advised that competitive strategy should be formulated to capture the opportunities, increase

the strengths, and to reduce the weakness and lessen the threats.

Keywords: Leather shoes, SWOT analysis.

Paper type: Research Paper.

Sajeeb Kumar ShresthaTeaching Assistant (MBS, M.Phil.)

Shanker Dev Campus, TU


2

1. Introduction

SWOT is a framework for analysing strengths, weaknesses, opportunities and threats. It has

been developed as a simple yet effective method for analysis within the strategic planning

process. Within this process, however, the SWOT analysis is neither the first nor the last step.

It has been based on a sound knowledge about the present environment and trends as well as

internal resources. SWOT analysis is synchronised with the best cast into a business mission

statement defining, the market and the customer aspects, the distinctive competence that is to

be built, the social and environmental standards to be respected, and /or other factors

according to the priorities of management and owners.

A SWOT analysis is a technique commonly used to assist in identifying strategic direction for

an organization or practice. It is preferred for the present work as it yields useful information

about the future viability of the considered system. One can assume that organizational

environment is composed of many elements which organizations deal with and form complex

cause-and-effect type of relationships with. Environment can also be divided into two

categories. The first category implies the external environment which contains all changes

that take place outside the organization's boundary such as economic, political, cultural, and

technological changes upon which organizations have little impact. The second category has

to do with internal factors within an organization in various areas such as management,

culture, finance, research and development, staff, operational efficiency and capacity,

technical frameworks, and organizational structure.

SWOT analysis refers to the process through which decision makers develop their awareness

of organizational environments so as to influence performance now and in the future

(Naryanan & Nath, 1993).

SWOT analysis can help organizations develop an early alarming system that take into

considerations all necessary preparations before possible threats rise, and implement capable

strategies to face such threats and minimize their negative consequences. In this regard,

Thompson (1990) suggests that strategy makers should consider the following scheme while

implementing SWOT analysis:

Determining the most important factors and reasons for selecting such factors.

Forecasting changes that might influence the mentioned factors.

Aligning of all forecasts.


3

Undertaking reality and honesty in assessing competitors' strengths and weaknesses as well

as their own organization.

Environmental diagnosis refers to the process of predicting the importance of information we

get out from SWOT analysis (Glueck & Jauch, 1988). This process is subject to the influence

of two factors. First, the characteristics of strategy makers which include their experience,

ambition, perception style, and the psychological state during the diagnosing operation.

Second, the nature of strategy makers' type of work which includes time pressure and work

tension, availability of organizational resources, the importance of decision making, the

abundance of time allocated to this function, and whether managers are occupied with other

activities or not.

2. Statement of the Problem and Literature Review

Strategic management has been widely used by all enterprises to withstand fierce market

competition. The strategic management process consists of three stages: strategy formulation,

strategy implementation, and strategy evaluation (David, 1998). SWOT analysis of external

opportunities and threats as well as the internal strengths and weaknesses of the enterprises is

important for strategy formulation and development. The purpose of the analysis of external

opportunities and threats is to evaluate whether an enterprise can seize opportunities and

avoid threats when facing an uncontrollable external environment, such as fluctuating prices,

political destabilization, social transition, change in the rule of law, etc. The purpose of the

analysis of internal strengths and weaknesses is to evaluate how an enterprise carries out its

internal work, such as management, work efficiency, research and development, etc. If used

correctly, SWOT can provide a good basis for successful strategy formulation.

No research was done to cover the issues on SWOT analysis of leather shoes markets in

Nepal. The research has tried to express the impact of strength, weakness, opportunity, threat

as well as external factors and internal factors on leather shoes markets in Nepal.

This study addresses the following research questions:

- What are the areas of opportunities and threats in Nepalese leather shoes markets?

- What are the areas of strengths and weakness in Nepalese leather shoes markets?

- Which external environmental factors or internal environmental factors are dominant in

Nepalese leather shoes markets?

This study aims to achieve the following objectives:


4

- To identify the area of opportunities and threats in Nepalese leather shoes markets.

- To analyze the strength and weakness in Nepalese leather shoes markets.

- To measure the influence of external environmental factors and internal environmental

factors.

The origins of the SWOT analysis technique is credited by Albert Humphrey, who led a

research project at Stanford University in the 1960s and 1970s using data from many top

companies. The goal was to identify why corporate planning failed. The resulting research

identified a number of key areas and the tool used to explore each of the critical areas was

called SOFT analysis. Humphrey and the original research team used the categories What is

good in the present is Satisfactory, good in the future is an Opportunity; bad in the present is

a Fault and bad in the future is a Threat. This was called the SOFT analysis. In 1964 Urick

and Orr at a conference changed the F to a W, and it has stuck as that, SOFT to SWOT

(SWOT Analysis Slovak Republic, 2009).

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats, and perhaps the

most well known approach for defining strategy (Zach, 1999). It is used to analyse these four

factors that either apply to a business or to an organisation. The technique is mainly used for

a analysing a companys internal capabilities (i.e. strengths and weaknesses) in relation to the

competitive environment (i.e. opportunities and threats) (Avison & Fitzgerald, 1996). This

study basically focuses on SWOT factors.

Opportunities and Threats

Literature definitions of threats and opportunities are viewed in the following two sections.

Opportunities: Opportunities are defined as a set of conditions suitable for achieving goals

at the right time. We thus can define opportunity as a positive state that gives organizations

some kind of relative advantages, or an environmental approach that positively influences

firm's profits.

According to Peter Drucker (cited in Rousan & Qawasmeh, 2009) opportunities can be

divided into three types: added opportunity where investment in this type does not impact the

nature and characteristics of the organization such as using the available resources to expand,

where revenues from this type of investment are limited. The second type is the

supplementary opportunity where organizations have to acquire new knowledge to take

advantage of this opportunity. The third type is the explosive opportunity where


5

organizations must own huge capital to spend on R&D. By exploiting such opportunities

organizations must carry out tremendous changes in organizational standards and attributes.

Threats: A threat is defined as any improper event or force in the external environment that

causes harm to the organization's strategy (Rowe, 1994). It also can be viewed as a challenge

caused by a negative attitude inconsistent with the organization's common norms. It is also a

set of conditions, resources and capabilities that organizations need or pressured to work

with, but can not influence or have control over it. The above mentioned threats and

opportunities can achieve the following results (Kotler, 1997):

Ideal activities tend to have high states of opportunities and low states of threats.

Risk activities tend to relate to high states of threats and opportunities.

Mature businesses are low in risks and opportunities.

Turbulent environments are low in opportunities and high in threats.

Strengths and Weaknesses

Strengths and weaknesses are viewed as results of factors and variables that can be controlled

within organizations which may be good or bad. If results are satisfactory, then this will

reflect the strength of one organizational factor or more; while if they are poor and

unsatisfactory, then this will prove that some organizational factors are weak.

Strengths: It represents the internal power that an organization possesses to compete against

its rivals (Sharplin, 1986). It also represents organizational capabilities and internal positive

attitudes that enable organizations possess strategic power to achieve organizational goals.

While others view organizational strengths as skills and abilities that enable organizations set

out and implement their strategies so as to outperform their rivals (Barney & Griffin, 1992).

Weaknesses: Weaknesses represent organizational aspects that negatively impact product

and/or service value with regards to customers or competitive environment. Weakness also

represents shortages in internal capabilities that make organizations unable to achieve their

goals or loose their competitive advantage.

Wizardry of SWOT

The wizardry of SWOT is the matching of specific internal and external factors, which

creates a strategic matrix, which makes sense. (Note: The internal factors are within the

control of your organization, such as operations, finance, marketing, and in other areas. The


6

external factors are out of your organization's control, such as political and economic factors,

technology, competition, and in other areas). The four combinations are called the Maxi-

Maxi (Strengths/Opportunities), Maxi-Mini (Strengths/Threats), Mini-Maxi

(Weakness/Opportunities) and Mini-Mini (Weaknesses/Threats) explained in Table 1.

Maxi-Maxi (S/O): this combination shows the organization's strengths and opportunities. In

essence, an organization should strive to maximise its strengths to capitalise on new

opportunities (Weihrich, 1982).

Maxi-Mini (S/T): this combination shows the organization's strengths in consideration of

threats, e.g. from competitors. In essence, an organization should strive to use its strengths to

parry or minimise threats (Weihrich, 1982).

Mini-Maxi (W/O): this combination shows the organization's weaknesses in tandem with

opportunities. It is an exertion to conquer the organization's weaknesses by making the most

out of any new opportunities (Weihrich, 1982).

Mini-Mini (W/T): this combination shows the organization's weaknesses by comparison

with the current external threats. This is most definitely defensive strategy, to minimise an

organization's internal weaknesses and avoid external threats (Weihrich, 1982).

Table 1: SWOT Matrix Strength Weakness

Opportunities S/O S/T

Threats W/O W/T

Maharjan investigated on measuring competitive position of insurance industry in Nepal

through SWIOT analysis. Maharjan (2012) found that the non-life insurance group, the mean

score of strengths, threats, opportunities, and weaknesses are ranked first, second, third, and

last respectively whereas the mean score of strengths, opportunities, threats, and weaknesses

are first, second, third, and last respectively in the life insurance industry. The study has

found that both non-life and life insurance industry has high effect of strengths and low effect

of weaknesses.

2. Research Methodology

This study investigates the SWOT analysis of leather shoes markets in Nepal. The research

design of this study is descriptive as well as analytical research. This study is based on


7

primary data only. Primary data were obtained from questionnaire administered for

measuring strength, weakness, opportunity and threats and external environmental factors and

internal environmental factors.

Quantitative methods or survey research is applied for this study. Direct responses of the

respondents were taken. Data were generated in five point likert scale anchored by Strongly

Disagree = 1 to Strongly Agree =5.

The population of the study is workshop participants. The workshop program was organized

by Government of Nepal, Ministry of Industry and Leather Footwear and Goods

Manufacturers' Association of Nepal (LFGMN) on the topic 'Workshop on entrepreneurship

development management program for youth entrepreneurs' in Hotel Country Villa,

Nagarkot, Kavre on dated 19-20 April, 2012 (7-8 Baishakh, 2069). All 25 to 30 proprietors,

chairman, directors and other officers of different leather shoes companies were participated

to the program. The researcher has been invited as a resource person to give presentation on

'Brand Management' and 'Consumer Relationship Management'. The researcher has got an

opportunity to interact with these personalities. The researcher has distributed 30

questionnaires to them. But only 12 questionnaires were returned successfully, having 40

percent of response rate only.

The final version of the questionnaire was made up (i) evaluation of four SWOT variables (ii)

external environmental and internal environmental variables and (iii) demographic questions.

Reliability analysis was done to check the scale item's reliability (George & Mallery, 2009).

Descriptive statistics like mean and standard deviation were used for summarising the data.

Ranking is used to categorize the scale items and overall score of the variables. The result of

analysis has been properly tabulated, analyzed and interpreted. Databases such as SPSS 18.0,

and Excel 2002, were used for this research.

This study was limited to establishing the SWOT analysis of leather shoes markets in Nepal.

- The study is based on the data available from the self administered questionnaire methods

among the respondents.

- Convenience sampling is taking for participation.

- Data are primary in nature.


8

Table 2: Respondents from Leather Shoes Companies S.N. Companies

1 Dhananjay Footware 2 Fitwell Shoes Industries Pvt. Ltd 3 Makalu Footware 4 N J Footware 5 New Lotus Footware 6 Prasamsha Footware 7 Shikhar Shoes Industries Pvt. Ltd 8 Sky Shoes Industries Pvt. Ltd. 9 Subhalabh Footware

10 Typical Footware 11 Utsav Footware Industry Pvt. Ltd

Profile of the Respondents

The profile of 12 respondents in the study is summarized in table 3. Table 3: Respondents Profile

Demographic Categories Frequency Percentage Gender Male 12 100 Female 0 0

Total 12 100 Age 20-30 yrs 2 16.7 30-40 yrs 5 41.7 40-50 yrs 4 33.3 50 and above 1 8.3

Total 12 100 Qualification Postgraduate 2 16.7 Graduate 9 75.0 Undergraduate 1 8.3

Total 12 100 Designation Chairman 1 8.3 Director 2 16.7 Proprietor 3 25.0 Others 6 50

Total 12 100 The study indicates that all the respondents are male.

Majority of the respondents are 30-40yrs of age with a steady percentage of 41.7 percent,

33.3 percent of the respondents fall between the age of 40-50years old, whereby 16.7 percent

are in the range of 20-30years old.

Most of the respondents are graduate level qualification with the percentage at 75 percent,

post graduate level respondents at 16.7 percent and undergraduate level respondents at 8.3

percent.

For designation, one chairman, two directors, three proprietors and others officers are six

numbers participated in this study.


9

3. Results and Discussion

3.1 Reliability Analysis

The reliability of used measurement scales were tested using Cronbach's alpha coefficient. Table 4 Reliability Analysis

Code Particulars Cronbach's Alpha S Strength 0.824 W Weakness 0.661 O Opportunities 0.701 T Threats 0.604

IEE External Environmental Factors 0.693 IIE Internal Environmental Factors 0.890

Table 2 shows the results of reliability of measurement scales was used for SWOT analysis.

The applied measurement scales exhibits satisfactory levels of reliability. For strength

variables (S), all the six items were accepted to increase the value of the measurement. For

weakness variable (W), all the nine scale items were accepted to increase the value of the

measurement. For opportunity variable (O), all the seven scales items were accepted to

increase the value of the measurement. Four scale items T1 (Number of new leather shoes

companies are increasing in the country), T2 (The company has to sustain in global

competition market), T6 (Political instability has challenged the business), and T7

(Bargaining power of customers has been increasing) among seven items were eliminated

from Threats variables (T). Two scales items EE4 (Technology has greater impact on the

firm) and EE5 (Legal has greater impact on the firm) among five scale items were eliminated

from impact of external environmental factors on the firm (IEE). All the six items were

accepted to increase the value of the measurement in impact of internal environmental factors

on the firm (IIE).

3.2 Descriptive Statistics

Strength variable (S): Leather shoes companies have the highest mean score of strength

variable shown by S1(Brand name of this company is popular in the market) is 4.17 with

corresponding standard deviation 0.84. The lowest mean score of strength variable shown by

S5(The company has working environment with computerized system) is 2.42 with

corresponding deviation 1.51.

Weakness variable (W): Leather shoes companies have the highest mean score of weakness

variable shown by W3(The company has captured a limited market) is 4.08 with

corresponding standard deviation 1.17. The another strong variable is W6(The company has

problems in accepting global changes) is 4.08 with corresponding standard deviation 1.17.


10

The lowest mean score of weakness variable shown by W8 (The company has problems in

tedious documentation process) is 3.0 with corresponding deviation 1.41.

Opportunities (O): Leather shoes companies have the highest mean score of opportunities

variable shown by O7(Public awareness towards Nepalese leather shoes has been growing) is

4.58 with corresponding standard deviation 0.90.

The lowest mean score of opportunities variable shown by O1 (The company has been doing

business in global market) is 1.58 with corresponding deviation 1.38.

Threats (T): Leather shoes companies have the highest mean score of threats variable shown

by T5(Economic recession is challenging in the business.) is 4.58 with corresponding

standard deviation 0.52.

The lowest mean score of threats variable shown by T4 (Rivals have created new marketing

strategies.) is 3.83 with corresponding deviation 1.03.

Impact of External Environmental factors on the firm (IEE): Leather shoes companies

have the highest mean score of impact of external environmental factors on the firm (IEE)

variable shown by IEE3(Impact of socio-culture) is 3.0 with corresponding standard

deviation 1.21.

The lowest mean score of impact of external environmental factors on the firm (IEE) variable

shown by IEE1(Impact of political instability) is 1.25 with corresponding deviation 0.45.

Impact of Internal Environmental factors on the firm (IIE): Leather shoes companies

have the highest mean score of impact of internal environmental factors on the firm (IIE)

variable shown by IIE5(The company has maintained good customer relation) is 3.92 with

corresponding standard deviation 1.78. The another strong variable is IIE6(The company

management system is well) is 3.92 with corresponding standard deviation 1.24.

The lowest mean score of impact of internal environmental factors on the firm (IIE) variable

shown by IIE(The company has capital adequacy) is 2.33 with corresponding deviation 1.49.


11

3.3 SWOT Matrix:

Table 5: SWOT Matrix of Leather Shoes Markets in Nepal Strengths Mean Rank Weaknesses Mean Rank

S1. Popular brand name 4.17 1 W3. Captured a limited market. 4.08 1 S3. Competent and reliable human resources 3.83 2 W6. Problems in accepting global changes. 4.08 2 S4. Strong financial position. 3.42 3 W5. Facing obstacles in computer system. 3.67 3 S6. Huge market coverage 3.33 4 W7. Centralized decision making. 3.5 4 S2. Large number of branches. 2.58 5 W1. Limited number of employees. 3.42 5 S5. Computerized working environment 2.42 6 W2. Unfamiliar staff. 3.08 6 W4. Conflict in top level management. 3.08 7 W9. Old software. 3.08 8 W8. Tedious documentation process. 3.0 9

Overall Average 3.29 Overall Average 3.44 Opportunities Mean Rank Threats Mean Rank

O7. Public awareness 4.58 1 T5. Economic recession. 4.58 1 O6. Competitive advantages in the business 4.42 2 T3. Consumers awareness 4.33 2 O4. Installation of modern technologies. 3.25 3 T4. Rivals marketing strategies 3.83 3 O2. Sufficient fund. 2.92 4 O3. Expand branches across country. 2.67 5 O5. Fulfil demand of leather shoes. 1.83 6 O1. Doing business in global market. 1.58 7

Overall Average 3.04 Overall Average 4.25 Where,

M = Mean score of the statements R = Rank of the mean score

Table 3 depicts that leather shoes companies have the highest mean score of strengths

variable showed by "Brand name of this company is popular in the market" and ranked first.

The lowest mean score of strengths variable showed by "The Company has working

environment with computerized system" and last sixth as last.

The highest mean score of weaknesses variable showed by "The Company has captured a

limited market" and ranked first. The lowest mean score of weaknesses variable showed by

"The Company has problems in tedious documentation process" ranked ninth as last.

The highest mean score of opportunities variable showed by "Awareness of public has been

growing toward leather shoes" and ranked first. The lowest mean score of opportunities

variable showed by "The Company has been doing business in global market" ranked seventh

as last.

The highest mean score of threats variable showed by "Economic recession is challenging in

the business" and ranked first. The lowest mean score of threats variable showed by "Rivals

have created new marketing strategies" ranked third as last.


12

Table 6: Impact of External and Internal Environmental Factors on the Firm

External Environment Mean Rank Internal Environment Mean Rank

IEE3. Socio-culture 3.0 1 IIE5. Costumers relation 3.92 1 IEE2. Economic downturn 2.0 2 IIE6. Management 3.92 2 IEE1. Political instability 1.25 3 IIE3. Tools and equipments 2.92 3 IIE4. Communication 2.82 4 IIE2. Human resources 2.5 5 IIE1. Capital adequacy 2.33 6

Overall Average 2.08 Overall Average 3.07 Where,

M = Mean score of the statements R = Rank of the mean score

Table 4 shows that the highest mean score of impact of external environmental factors on the

firm (IEE) variable showed by "Impact of socio-culture" and ranked first. The lowest mean

score of impact of external environmental factors on the firm (IEE) variable showed by

"impact of political instability" ranked third as last.

The highest mean score of impact of internal environmental factors on the firm (IIE) variable

showed by "Good customer relation" and ranked first. The lowest mean score of impact of

internal environmental factors on the firm (IIE) variable showed by "Capital adequacy"

ranked sixth as last.

3.4 Rank of Overall Mean of SWOT Factors

Table 7: Rank of Impact of External and Internal Environmental Factors on the Firm Particulars Mean Std. Deviation Rank

Threats 4.25 0.65 1 Weakness 3.44 0.77 2 Strength 3.29 1.07 3

Opportunities 3.04 0.79 4 Table 5 shows that mean score of strengths threats variable is 4.25 (i.e., 4.25 > 3) which is the

highest out of the four variables. So, it is ranked first. That means leather shoes companies

have been facing severe threats.

The mean score of weakness variable is 3.44 (i.e., 3.44 > 3) which is ranked second. It is

greater than 3 score (i.e., neutral). So, the leather shoes companies have also high weakness.

The mean score of strength variable is 3.29 (i.e., 3.29 > 3) which is ranked third. It is more

than 3 score (i.e., neutral). So, leather shoes companies have also high strength.

The mean score of opportunities variable is 3.04 (i.e., 3.04 < 3) which is ranked fourth and

last. It is above than 3 score (i.e., neutral). So, leather shoes companies have also high

opportunities.


13

3.5 Rank of Overall Mean of SWOT Factors

Table 8: Rank of Overall Mean of SWOT Factors Particulars Mean St. Deviation Rank

Internal Environment 3.05 1.15 1 External Environment 2.08 0.75 2

Table 6 expresses that the mean score of internal environmental variable is 3.05 (i.e., 3.05 <

3) which is ranked first. It is above than 3 score (i.e., neutral). So, leather shoes companies

have been highly affected from internal environmental factors.

The mean score of external environmental variable is 2.08 (i.e., 2.08 < 3) which is ranked

second or last. It is below than 3 score (i.e., neutral). So, leather shoes companies have been

least affected from external environmental factors.

3.6 Major Findings

Brand names of leather shoes are very popular in the markets. Company has competent and reliable human resources. Company has strong financial position. But the companies

have captured a limited. They have problems of adapting global changes.

Public Awareness is growing toward leather shoes. They are increasing competitive advantage in the business. But, economic recession creates challenges to the business.

Rival companies are making competing marketing strategies.

Leather shoes companies have high effect of threats, weakness as well as strength and opportunities are also seen in these sectors. This explains that there are threats in the

leather shoes business but there is opportunities and strength also available. If we are able

to increase our strength strategically we are able to capture the opportunities.

Mean score of threats, weakness, strength and opportunities are ranked first, second, third, and last respectively. No matter whatever the rank but we always have to think

about opportunities and strengths that are above the neutral value (i.e., 3) so good strategy

should be made to skim the opportunities from the leather shoes markets.

Internal environmental factors have highly affecting on performance of leather shoes companies rather than external environmental factors.

4. Conclusion

The SWOT analysis is an extremely useful tool for understanding and reviewing the

companys position prior to making decisions about future company direction or the


14

implementation of a new business idea. In this study, SWOT analysis is used to analyze the

impact of strength, weakness, opportunity and threat variables as well as external and internal

environmental factors contribution to leather shoes companies are also considered.

It is found that leather shoes markets are affecting from threats, weaknesses, strengths, and

opportunities are ranked first, second, third, and last respectively. There are more threats in

the leather shoes markets but there are also strengths and opportunities to pursue the

opportunities.

Internal environmental factors are dominantly affects on performance of leather shoes

companies than external environmental factors.

This study has given contrast result from Maharjan (2012) that all the strength, weakness,

opportunities and threat variable has high impact on leather shoes companies' performance.

It is clearly advised that competitive strategy should be formulated to capture the

opportunities, increase the strengths, and to reduce the weakness and lessen the threats.

Bibliography

Avison, D., & Fitzgerald, G. (1996). Information Systems Development. Berkshire, UK, Berkshire: McGraw-Hill.

Barney, J.B., & Griffin, R.W. (1992). The Management of Organizations: Strategy, Structure, and Behavior. Boston. McGraw-Hill.

David, F.R. (1998). Strategic Management: Concepts and Cases. New Jersey, Prentice-Hall. George, D., & Mallery, P. (2009). SPSS for windows, step by step (8th ed.). Delhi, Patparganj: Dorling

Kindersley (India) Pvt. Ltd., licensees of Pearson Education in South Asia. Glueck, W.F, & Jauch, L. (1988). Business Policy and Strategic Management (3rd ed.). McGraw-Hill Book Co. Kotler, P. (1997). Marketing Management, Analysis, Planning, Implementation and Control (9th ed.). New

Jersey: Prentice Hall. Maharjan, G. (2012). Measuring Competitive Position of Insurance Industry in Nepal through SWOT Analysis.

The Nepalese Management Review, 15(1), 95-108. Narayanan, V.K., & Nath, R. (1993). Organization Theory: Strategic Approach. USA: Irwin INC. Rousan, M., & Qawasmeh, F. (2009). The Impact of SWOT Analysis on Achieving a Competitive Advantage:

Evidence from Jordanian Banking Industry. International Bulletin of Business Administration, 6, 82-92. Rowe, A.J. (1994). Strategic Management: A Methodological Approach (4th ed.). Addison-Wesley Publishing

Co. Inc. Sharplin, A. (1986). Strategic Management. McGraw-Hill Book Co. SWOT Analysis Slovak Republic (2009) Retrieved on 7 September 2012 from http://www.cbi-

nlls.net/QIP/cbinlls.nsf/0/26C6C45E01191EA7C12577170071924F/$file/4_SWOT% 20 A n a l ysis%20Slovak%20Republic.pdf.

Thompson, J. (1990). Strategic Management: Awareness and Change (1st ed.). Chapman and Hall, London, 658.4012 THO.

Weihrich, H. (1982). The TOWS matrix - A Tool for Situational Analysis. Journal of Long Range Planning, 5 (2), 15-25.

Zach, M.H. (1999). Developing a Knowledge Strategy. California Management Review, 41(3): 125-145.

Documents

Swot Analysis