Rather, a PEST analysis functions very similarly to a SWOT analysis, only they’re concerned with four external factors: Political, Economic, Sociocultural, and Technological factors, to be precise.One of the main reasons it’s worth looking at PEST analyses is because many of the factors that could end up in a PEST matrix could also be relevant to the Opportunities and Threats in our SWOT analysis. Event Management. Successful businesses build on their strengths, correct their weakness and protect against internal weaknesses and external threats. Other examples of organizational weaknesses are huge debts, high employee turnover, complex decision making process, narrow product range, large wastage of raw materials, etc.Organization should be careful and recognize the opportunities and grasp them whenever they arise. You’ve identified internal strengths and weaknesses, as well as external opportunities and threats. Read on for SWOT analysis templates, plus top tips and plenty of SWOT analysis examples. Never miss out on these. Increasing demand for telecommunications accompanied by deregulation is a great opportunity for new firms to enter telecom sector and compete with existing firms for revenue.SWOT Analysis is instrumental in strategy formulation and selection. Documentation of your research work is important, later for event evaluation. Event management 1. The restaurant is also struggling with its limited reach, the restrictions of a modest advertising budget, and is also failing to leverage the potential to increase sales by allowing customers to order food online through delivery apps like Foodler or GrubHub.However, that’s not to say all hope is lost. Conducting a SWOT analysis is a powerful way to evaluate your company or project, whether you’re two people or 500 people. It is best when used as a guide, and not as a prescription. there may be a strength that links with an opportunity (good) or a weakness that is linked to a threat (not so good).On a new piece of flip-chart paper create an Action Plan looking to:Turn Weaknesses into a Strengths (e.g. Ronnie Higgins works at Eventbrite, helping event creators level-up their game and connect with one another. On the other hand, a strong relationship between the weakness and threat will be concluded as a potential warning for the organization as well as the business and that suggests a defensive strategy.It lacks critical thinking of the strategies which would lead to misinterpretation of the external and internal factors in the business surroundings. Any internal factor like,Opportunities address everything that works in favor of your business. Think about what is the strong feature of your event.For Example, if it is a workshop that you’re planning to conduct, then the offerings that you’re giving to your attendees should be your strength. This analysis aims at identifying major internal and external factors that are crucial for achieving the objective.Internal Factors deal with all the internal workings of your business. Or your team is green, but you’re enrolling them in free online event-management classes. This is why many companies also conduct PEST analyses.This type of analysis is not what an exterminator does upon arriving at a roach-infested tenement. Make proper use of these opportunities to make your event a success.For example, if you’re organizing an event, the little competition, your brand reputation, and the favorable economic conditions are a few examples of opportunities.Threats are the external factors that may pull you back from achieving your event goals. Try your best to make use of these to the fullest.are a few examples of weaknesses. This can place them beyond the scope or intent of a typical SWOT analysis. For example, in the analysis above, the popularity of locally sourced ingredients was identified as an opportunity, and heightened competition was identified as a threat. Sooner or later, unforeseen circumstances will derail your best intentions.Owners of successful event businesses are both visionary and realistic. Yes everyone knows it. Professionally Designed/ Written Free Events management swot analysis template Template - Easily Download, Edit & Print in Google Docs (doc), MS Word (doc), Pages (pages) This goes for creators of big annual festivals and small networking events alike. At the start of a project / program it's important to get a handle on the current situation.Appreciating your strengths, studying opportunities, pinpointing weaknesses and identifying threats is a prudent way to kick you off in the right direction.Otherwise you may stop things that you shouldn't or spend time, energy and money on stuff that you really should be avoiding at all costs.A great activity to achieve this with your team is a SWOT Analysis.Yes it's old. They might happen, they might not. In other words, think of SWOT analysis as a way to ensure the continued success of your business, and its abilities to meet it’s projected goals a year or more from now. Documentation of your research work is important, later for event evaluation. Weaknesses of your business are opposite to the strengths of your business. They also keep a watch on their overall business environment and recognize and exploit new opportunities faster than its competitors.SWOT Analysis helps in strategic planning in following manner-.SWOT Analysis provide information that helps in synchronizing the firms resources and capabilities with the competitive environment in which the firm operates.SWOT Analysis is not free from its limitations.