About Us

Realtalk is a Kenyan blog and a leading provider of information about business and technology. Founded by Tim Mbiti in 2012. The prime focus of the website is business but it also features articles on technology.
Here is a sample of one of the articles:

SWOT Analysis in Business

SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats faced by the organization in its operations. It involves specifying the objectives of the business and identifying the internal (strengths and weaknesses) and external (opportunities and threats) factors that are favorable and unfavorable in achieving the stated objectives (Renault, n.d.).
SWOT analysis is important when developing a business strategy because:-
·         It Gives direction to the organization
·         Highlights constraints and problems the organization is facing.
·         Shows the ability or capability of the organization to survive in the current global environment as well as its ability to meet set objectives.
·         Provides useful information that is helpful in matching the firm’s resources and capabilities to the competitive environment which it operates in.
·         It sets an organization’s objectives or goals as well as in strategic planning. For example, avenues for new initiatives and Identifying possible areas for change.
·         It is important in decision making as you can capitalize on the firm’s strengths and eliminate weakness.
Importance of business strategy
Ø  Value addition: especially in the product or service the business is offering
Ø  Effectiveness and efficiency: This applies in the business operations and ensures resources are utilized appropriately and objectives are met as required.
Ø  Competitive advantage: by ensuring that you are differentiated from your competition because of a special attribute in your offerings or operations gains the business an advantage in the market place.
Ø  Reduced wastage and maximization of resource utilization
Ø  Provides direction towards goal achievement: this occurs through systemization and the reduction of random decisions and making ad-hoc choices.
Ø  Checks the process and forecasts the future
Ø  Reduces risk and uncertainty by offering opportunities for prevention rather than reaction
Ø  Provides opportunities for firms to explore opportunities that exist in the environment