SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business or project.
- **Strengths**: Internal attributes that provide an advantage.
- **Weaknesses**: Internal factors that may hinder performance.
- **Opportunities**: External conditions that could be leveraged for growth.
- **Threats**: External challenges that could pose risks.
This framework helps organizations develop strategies by understanding their internal capabilities and external environment.
1. Strengths (Internal, Positive)
- Definition: Characteristics that give an organization a competitive advantage.
- Examples:
- Strong brand reputation
- Loyal customer base
- Unique technology or patents
- Skilled workforce
- Financial stability
2. Weaknesses (Internal, Negative)
- Definition: Internal factors that place the organization at a disadvantage.
- Examples:
- Limited resources or capital
- Poor customer service
- High employee turnover
- Outdated technology
- Inefficient processes
3. Opportunities (External, Positive)
- Definition: External factors or situations that the organization can exploit to its advantage.
- Examples:
- Emerging markets
- Technological advancements
- Changes in consumer behavior
- Strategic partnerships
- Favorable regulatory changes
4. Threats (External, Negative)
- Definition: External challenges that could negatively impact the organization.
- Examples:
- Increasing competition
- Economic downturns
- Changes in regulations or policies
- Negative publicity
- Cybersecurity risks
When to Use a SWOT Analysis:
- Business planning or strategy development
- Product launches
- Market expansion
- Problem-solving and decision-making
How to Conduct a SWOT Analysis:
- Brainstorm each category.
- Prioritize the most critical points.
- Develop strategies:
- Use strengths to capitalize on opportunities.
- Address weaknesses to mitigate threats.
- Convert weaknesses into strengths where possible.
SWOT Analysis
|
Strengths What
do you do well? What
unique resources can you draw on? What
do others see as your strengths? |
Weaknesses What
could you improve? Where
do you have fewer resources than others? What
are others likely to see as weaknesses? |
|
Problem solving |
Procrastination |
|
Opportunities What
opportunities are open to you? What
trends could you take advantage of? How
can you turn your strengths into opportunities? |
Threats What
threats could harm you? What
is your competition doing? What threats do your weaknesses expose you to? |
|
|
|
What I’ve learned
from analyzing my Strengths:
What I’ve learned
from analyzing my Weaknesses:
Procrastination –
Finance Issue :
over-optimistic :
Over Experience:
Lack of Privacy :
What I’ve learned from
analyzing my Opportunities:
What I’ve learned
from analyzing my Threats:
What I’ve learned
from doing this analysis? (Include
self-reflection that shows you have learned something from the assignment.)
How I might use this
information going forward? (Include self-reflection that shows you have learned
something from the assignment.)
Reference:
Mind Tools Content Team. (n.d.). Personal
SWOT analysis. MindTools. https://www.mindtools.com/pages/article/newTMC_05_1.htm
Worksheet: SWOT Analysis. (2006-2019).
MindTools. https://www.mindtools.com/pages/article/newTMC_05.htm?download=1
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