SWOT Analysis
The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in business and organizations. SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats.
A SWOT analysis measures a business unit, a proposition or idea; a PEST analysis measures a market.
WOT analysis can be used for all sorts of decision-making, and the SWOT template enables proactive thinking, rather than relying on habitual or instinctive reactions.
The SWOT analysis template is normally presented as a grid, comprising four sections, one for each of the SWOT headings: Strengths, Weaknesses, Opportunities, and Threats. The free SWOT template below includes sample questions, whose answers are inserted into the relevant section of the SWOT grid. The questions are examples, or discussion points, and obviously can be altered depending on the subject of the SWOT analysis. Note that many of the SWOT questions are also talking points for other headings - use them as you find most helpful, and make up your own to suit the issue being analysed. It is important to clearly identify the subject of a SWOT analysis, because a SWOT analysis is a perspective of one thing, be it a company, a product, a proposition, and idea, a method, or option, etc.
Here are some examples of what a SWOT analysis can be used to assess:
* a company (its position in the market, commercial viability, etc)
* a method of sales distribution
* a product or brand
* a business idea
* a strategic option, such as entering a new market or launching a new product
* a opportunity to make an acquisition
* a potential partnership
* changing a supplier
* outsourcing a service, activity or resource
* an investment opportunity
Subject of SWOT analysis: (define the subject of the analysis here)
strengths
* Advantages of proposition?
* Capabilities?
* Competitive advantages?
* USP's (unique selling points)?
* Resources, Assets, People?
* Experience, knowledge, data?
* Financial reserves, likely returns?
* Marketing - reach, distribution, awareness?
* Innovative aspects?
* Location and geographical?
* Price, value, quality?
* Accreditations, qualifications, certifications?
* Processes, systems, IT, communications?
* Cultural, attitudinal, behavioural?
* Management cover, succession?
weaknesses
* Disadvantages of proposition?
* Gaps in capabilities?
* Lack of competitive strength?
* Reputation, presence and reach?
* Financials?
* Own known vulnerabilities?
* Timescales, deadlines and pressures?
* Cashflow, start-up cash-drain?
* Continuity, supply chain robustness?
* Effects on core activities, distraction?
* Reliability of data, plan predictability?
* Morale, commitment, leadership?
* Accreditations, etc?
* Processes and systems, etc?
* Management cover, succession?
opportunities
* Market developments?
* Competitors' vulnerabilities?
* Industry or lifestyle trends?
* Technology development and innovation?
* Global influences?
* New markets, vertical, horizontal?
* Niche target markets?
* Geographical, export, import?
* New USP's?
* Tactics - surprise, major contracts, etc?
* Business and product development?
* Information and research?
* Partnerships, agencies, distribution?
* Volumes, production, economies?
* Seasonal, weather, fashion influences?
threats
* Political effects?
* Legislative effects?
* Environmental effects?
* IT developments?
* Competitor intentions - various?
* Market demand?
* New technologies, services, ideas?
* Vital contracts and partners?
* Sustaining internal capabilities?
* Obstacles faced?
* Insurmountable weaknesses?
* Loss of key staff?
* Sustainable financial backing?
* Economy - home, abroad?
* Seasonality, weather effects?
Robert and Kim Kiyosaki is in Singapore for a international tour and will be back in US 6/5/09. Rhonda, our Marketing Director, headed the meeting and the lesson this morning. I thought she did a very good job in heading the discussion on SWOT Analysis.
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