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SWOT analysis

 

SWOT is the identification of an organisation’s strengths and weaknesses and the possible opportunities and threats it may face.

Originator: Albert S. Humphrey

Strengths and weaknesses are internal factors such as an organisation’s resources or assets and can be measured by internal assessments. Opportunities and threats are external factors that an organisation has no control over and can originate from the competitive dynamic market or other socio-economic factors.

How to use it?

Take into account each of the four areas individually and make a note of any important points. Possible factors to be considered in a SWOT analysis diagram:

Strengths
Do you have a unique product or service that only you can supply?
Do you have a strong brand name or good reputation?
Do you have new and innovative products in a competitive market?

Weaknesses
Which areas are you lacking in expertise?
Is your product or service indistinguishable from your competitors?
Do you have a bad reputation or poor quality goods?

Opportunities
Have there been favourable changes in regulations or relaxed barriers?
Are there new markets available?
Is there a possibility of a new merger or joint venture?
Has a competitor dropped out or become weaker?

Threats
Is there a new competitor or an existing competitor with a new product?
Are there new restrictions or stronger barriers imposed?
Is there a competitive price war or a new taxation affecting profits?

Once created it then becomes important to prioritise the lists ensuring the most important factors get the most time spent on them. This is a useful tool for analysing the internal strengths and weaknesses and external opportunities and threats but it then becomes important to decide how to act on the information.

What do I need?

A flip-chart and a workshop with an enthusiastic audience




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