SWOT Analysis

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A successful technique for identifying your Strengths and Weaknesses and study any Opportunities and Threats you face.

The SWOT Analysis requires you to write down answers to the following questions:

Strengths, what do you do well? What are your advantages?.. Consider this from your point of view and that of others. Be realistic but not modest, add to this a list of your characteristics, hopefully some of these will be strengths.
Weaknesses, What is done badly? What could be improved? What should be avoided? Consider this question from and internal and external perspective – is it possible others see weaknesses you do not? Are your competitors doing better? Be realistic, looking any unpleasant truths face on.
Opportunities, What are the interesting trends? Where are the opportunities available to you?
- Useful opportunities can arise from
  - New technology, changes in the market place
  - Alterations in government policies related to your field
  - Changes in social patterns, population profiles, lifestyle changes etc.
  - Local event
Threats, what obstacles to you face? How are your competitors fairing? Could changes in technology threaten your position? Do you have bad debt or cash-flow problems

Strengths and Weaknessess are internal factors Opportunities and Threats are external factors - often identified through PEST or PESTLE analysis

SWOT techniques can be used on:

External Links

[1] Business Balls - SWOT [2] RapidBI - SWOT Templates [3] Wikipedia - SWOT

[4] RapidBI - PESTLE Analysis template [5] Wikipedia - PEST analysis