SWOT Analysis
SWOT analysis is a strategic planning tool used to assess the Strengths, Weaknesses, Opportunities, and Threats of a business, project, or individual. It helps in making informed decisions by identifying internal and external factors that affect success.
| Helpful | Harmful | |
|---|---|---|
| Internal (to Organisation) | Strengths
| Weaknesses Areas for Improvement
|
| External (Industry, Environment) | Opportunities for Growth
| Threats to Success
|
SWOT Breakdown
1. Strengths (Internal, Positive)
- What advantages does the organization have?
- What does it do better than competitors?
- What unique resources or expertise does it possess?
- Examples: Strong brand reputation, skilled workforce, proprietary technology.
2. Weaknesses (Internal, Negative)
- What areas need improvement?
- Where does the business lack resources?
- What factors put it at a disadvantage?
- Examples: Poor customer service, outdated technology, high employee turnover.
3. Opportunities (External, Positive)
- What external trends can be leveraged?
- Are there new markets or customer needs emerging?
- Are there regulatory or industry changes that can be beneficial?
- Examples: Market expansion, technological advancements, changes in consumer behavior.
4. Threats (External, Negative)
- What external risks could harm the business?
- Are there new competitors?
- Could economic changes, regulations, or negative publicity impact success?
- Examples: Economic downturn, supply chain disruptions, new government regulations.
Why Use SWOT Analysis?
- Helps in strategic decision-making.
- Identifies competitive advantages and areas for improvement.
- Assists in risk management and proactive planning.
- Can be applied to businesses, projects, career planning, and even personal development.