SWOT Analysis

          What is SWOT? SWOT Analysis can help you in examining the potential for a new business or product, a SWOT analysis can help determine the likely risks and rewards. SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that can help your company face its greatest challenges and find its most promising new markets.

          SWOT analysis was created in the 1960s by business gurus Edmund P. Learned, C. Roland Christensen, Kenneth Andrews and William D. Book in their book "Business Policy, Text and Cases" (R.D. Irwin, 1969). While the tool was originally intended for business use, it has since been adopted to aid personal development.

          In a nutshell, SWOT Analysis is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face.

MY SWOT ANALYSIS in my studies

In order to achieve my goals to further my studies in Australia and become a successful actuary, I have analysed my SWOT to help me in leading towards my goals. SWOT analysis can help me to figure out my strengths and weaknesses so that I can overcome my weaknesses in my studies.

S-Strengths

 (a) Calculate very fast

 (b) Can focus when teacher is teaching

 (c) Well-organised

 (d) Plan before doing something

 (e) Can memorise thing quite fast

 (f) Complete my homework

 (g) Can help friends in questions

 (h) Good in Mathematics

 (i) Patient

 (j) Can accept reviews from others

 (k) Optimistic
 (i) Sensitive to numbers, statistics and data

W-Weaknesses

 (a) Lazy

 (b) Procrastination

 (c) Can be distracted easily

 (d) Rarely ask question in class

 (e) Talkative

 (f) Give up easily when cannot solve problems

 (g) Cannot follow teachers in lessons sometimes

 (h) Careless

 (i) Weak communication skills in English

O-Opportunity

 (a) I have a good academic results so I can apply for scholarship to further my studies in overseas

 (b) My family support me in what I plan to be

 (c) Have strong basic from high school, do not encounter too many problems in studies

T-Threats

 (a) Fully dependent on scholarship to further my studies

 (b) Financial problems

 (c) Have to face competition from other students in scholarship

Ways to overcome my weaknesses:-

 1. Build a time table which is balanced in play and work

 2. Attend workshop for me to improve my communication skills

 3. Be more careful when answering questions in examinations

 4. Seek help from teachers and friends whenever I face problems

 5. Be determined in solving problems