SWOT stands for Strengths, Weaknesses, Opportunities and Threats, and a SWOT analysis examines these factors for a given business, project, or personal objective. Swot an analysis method used by businesses and organizations to analyze that strengths, weaknesses, opportunities, and threats; used to aid organizations in decision making that to align to the goals of that organization. Firms use this method for looking into their internal and external environments. EXTERNAL elements are classified as opportunities or threats while, INTERNAL fall under either strengths or weaknesses.
Basic SWOT Matrix Excel template:
Take advantage of the fact that this is an Excel template by using additional worksheets for supporting data or other analyses. You get the simplicity of a SWOT matrix with the functionality of Excel.
The following four components of SWOT method of analysis can include some of the following situations:
Strengths: advanced research and development, an experienced management team, and advanced distribution networks.
- What advantages does your organization have?
- What do you do better than anyone else?
- What unique or lowest-cost resources can you draw upon that others can’t?
- What do people in your market see as your strengths?
- What factors mean that you “get the sale”?
weaknesses: Poor public image, small markets, limited distribution networks.
- What could you improve?
- What should you avoid?
- What are people in your market likely to see as weaknesses?
- What factors lose you sales?
opportunities: New market opportunities, less competition. new market opportunities.
- What good opportunities can you spot?
- What interesting trends are you aware of?
Useful opportunities can come from such things as:
- Changes in technology and markets on both a broad and narrow scale.
- Changes in government policy related to your field.
- Changes in social patterns, population profiles, lifestyle changes, and so on.
- Local events.
threats: Pending legal action. dying markets, increased government regulations.
- What obstacles do you face?
- What are your competitors doing?
- Are quality standards or specifications for your job, products or services changing?
- Is changing technology threatening your position?
- Do you have bad debt or cash-flow problems?
- Could any of your weaknesses seriously threaten your business?