swot analysis in research methodology

SWOT Analysis

All business students are assigned to conduct SWOT analysis, usually at the earlier stages of their studies. This page focuses on the application of SWOT analysis in a business context as a part of academic assignments . This is a comprehensive SWOT resource and it contains an explanation of SWOT theory, an illustration of how to do a SWOT analysis and links to examples of SWOT analysis of major multinational brands. Moreover, SWOT analysis template further below can be used to generate SWOT tables of top multinational companies along a range of industries.

SWOT Analysis: Theory

SWOT is a strategic analytical tool for assessing strengths and weaknesses of a business, analyzing opportunities available to the business, as well as, threats faced by the business. SWOT analysis can be used at organizational and personal levels.

As it is illustrated below, strengths and weaknesses are internal, i.e. businesses are able to influence and to manipulate with their strengths and weaknesses. Opportunities and threats, on the other hand, are external. It means businesses can only react to opportunities and threats and they do not have any means to influence opportunities and threats.

SWOT analysis has important practical implications. Specifically, with findings of SWOT analysis in their hands, the senior level management identify and built upon their strengths, discover new opportunities and work upon eliminating or minimising threats to the business. Accordingly, SWOT can be a powerful aid for senior level management to develop appropriate strategy for the business.

As a strategic analytical tool, SWOT analysis has some weaknesses as well. Specifically, the application of this tool may encourage users to focus on quantity of factors, instead of focusing on a few, but the most powerful factors having the biggest impact on the business. In other words, SWOT analysis lacks guidance and provision in terms of differences in importance between factors. As a result weak strengths may appear to balance strong weaknesses.

The majority of sources explaining SWOT analysis assume that their audience is businesses aiming to improve their operational efficiency. This SWOT analysis resource is different. It explains SWOT analysis assuming that you a business student and you have been assigned to conduct SWOT analysis as a part of your assignment.

How to do SWOT Analysis

You can conduct a SWOT analysis with the following four steps:

Step 1: Selecting a company

If your assignment requires conducting a SWOT analysis, you are either given a case study company by your educational institution or you are free to analyze a company of your own choice. In the first scenario, you have no option but to conduct a SWOT analysis of the company named in your assignment instructions. However, the majority of educational institutions provide students the flexibility to conduct SWOT analysis of a company of their own choice.

Students are often tempted to conduct SWOT analysis of their employer. Choosing your employer as a case study can be a good strategy if you have an access to detailed relevant information. Please note that only descriptive information would not suffice and you will have to justify your arguments by referring to relevant quantitative data. Therefore, if you are not able to find relevant quantitative data about your employer, your best choice could be to conduct SWOT analysis of a multinational enterprise. This is due to the availability of data about the majority multinational enterprises. This portal offers up-to-date sample SWOT analyses of the most famous multinational enterprises as part of company reports .

Step 2: Finding information

If you are conducting a SWOT analysis of a small or medium sized organization such as your employer, family business or a company you are related to in some ways, approaching the company directly may prove to be an efficient strategy to obtain required information. You may try to secure a meeting with a senior level manager and explain practical implications of your SWOT analysis for the business. In other words, you may be able to convince a senior manager that results of your SWOT analysis may provide an important insight into the business and managers can act upon this knowledge to increase the efficiency of the business at various fronts.

Alternatively, if you are conducting SWOT analysis of a multinational enterprise, company annual report is usually the most comprehensive source of the relevant information. Note that annual reports highlight information about strengths of the business within the first few pages and you cannot find information about weaknesses of a company in its annual report for obvious reasons.

Information about Strengths in SWOT Analysis

Information about strengths of the company is easiest to find in your SWOT analysis. Strengths are competitive advantages of the business that made it successful in the first place. In case of small or medium sized organizations, the manager you are interviewing will be happy to discuss the strengths of the business.

In case of multinational companies, on the other hand, the first few pages of annual reports boast about competitive advantages of the business by referring to specific figures and charts. Using some of these charts in your assignment and properly referencing the source is going to increase the quality of your work.

You can determine strengths of businesses in answers to the following questions:

What advantages does the company have?
What does the company better than its competitors?
What unique or low-cost resources are available to the company that are not available to its rivals?
What Unique Selling Propositions (UPS) are associated with the company?

The following table illustrates the major strengths possessed by businesses and tips about how to discuss these strengths in your swot analysis:

Information about Weaknesses in SWOT Analysis

It may not be easy to find information about weaknesses of small and medium sized businesses. The manager you are interviewing may not want to discuss weaknesses of their business either intentionally, or they may not be aware of weaknesses. It is important for you to motivate your interviewee to discuss weaknesses of their company by asking relevant questions in a polite way.

It is easier with multinational organizations. An extensive online research can reveal relevant information about weaknesses associated with the company you are analyzing.The majority of big corporations have been involved in some kind of scandals during the past two years and you can discuss the damage of these scandals to the brand image as noteworthy weakness of the company.

For example, suppose you have chosen Coca Cola Company for your SWOT analysis assignment. If you google the term ‘Coca Cola scandal’, search results on the top relate to a scandal where the company funded obesity research that downplayed the negative health implications of Coca Cola products. Negative implications of this incident on Coca Cola brand image is brand’s weakness you can discuss in you SWOT analysis.

All arguments and numbers need to be referenced using referencing style required by your educational institution in an appropriate manner. Preference has to be given to online journals and magazines over online discussion forums and personal blogs.

Answers to the following questions can help to identify weaknesses of your case study company:

What aspects of the business could the company improve?
What should the company avoid?
What factors are causing the company to lose sales?
What aspects of products/services are customers are likely to see as weaknesses?

Major weaknesses of businesses and brief tips about discussing them in your assignment are illustrated in the following table:

Information about Opportunities in SWOT Analysis

Information about opportunities available to the business can be derived from its weaknesses in a way that businesses often have an opportunity to turn their weaknesses into strengths. At the same time, it is important that your SWOT analysis also identifies a set of opportunities that are not related to weaknesses. If you can’t think of any company-specific opportunities, you can discuss business opportunities that can be explored by any business in general, such as new product development, international market expansion and increasing the level of effectiveness of social media marketing. Interesting trends in the industry can also be opportunities for the business.

Opportunities can be identified through answering the following questions:

What are interesting trends in the market that can be profitably explored by the company?
What are the demographic and social changes that present new opportunities in the industry?
Are there any government policies and regulations that can help the industry?
Are there any opportunities for the company related to technological developments?

The following table illustrates the major opportunities available for businesses and tips about how to discuss these opportunities in your SWOT analysis:

Information about Threats in SWOT Analysis

Threats faced by the business can be classified into two categories. Firstly, there are company-specific threats that stem from company-specific factors such as the threat of losing market share due to ineffective cost structure or the threat of negative media coverage and damage to the brand image due to neglecting the importance of corporate social responsibility. Secondly, there are threats to the industry or to the economy on the whole, such as a threat of introducing tariffs to a certain range of products or the threat of a global economic and financial crisis. You will need to find information about threats belonging to both categories with more emphasis on the threats from the first category, i.e. company-specific threats.

You can identify the main threats to the business through answering the following questions:

What are the main obstacles faced by the company?
What are the latest developments in competitor Unique Selling Propositions?
Does the company have substantial amount of bad debts or cash-flow problems?
Was the company involved in any scandal recently?

Main threat facing the majority of businesses and brief tips about discussing them in your SWOT analysis are illustrated in the following table:

Step 3: Writing

You can structure your writing of SWOT analysis in the following way:

Firstly, you will need to discuss the company profile, its strategy and the most recent changes that have taken place in the company prior to presenting your SWOT analysis. The length of such a discussion depends on your assignment instructions and the total word count for your assignment.

Secondly, develop a SWOT Analysis Matrix for your chosen company. You can develop a table containing four sections headed strengths, weaknesses, opportunities and threats. Major strengths, weaknesses, opportunities and threats of your chosen company can be presented in bullet points under respective boxes. These should be precise and verifiable statements.

Using steps 1 and 2 above, you should have long list of factors related to strengths, weaknesses, opportunities and threats for the business. Now it is time to prioritize factors to be included in your SWOT analysis by focusing on the most significant factors. The numbers of factors that should be discussed under each category depends on the total word-count for your assignment.

Thirdly, you have to discuss bullet points in your SWOT table. Your analysis needs to contain statistical data and ideally graphs and tables as well. Do not forget to reference sources, using referencing system required by your university. Moreover, you can discuss how to address weaknesses and threats identified as a result of your SWOT analysis and get additional marks for your work.

SWOT Analysis Example

This portal contains example SWOT analysis of the following companies:

SWOT is an acronym for strengths, weaknesses, opportunities and threats related to organizations. The following table illustrates SWOT analysis:

SWOT Analysis Template

Please choose an industry and a company below to generate a SWOT table containing bullet points of strengths, weaknesses, opportunities and threats of your chosen company. In order to complete the SWOT analysis you will need to expand the bullet points into a couple of paragraphs with discussions and references from reliable sources to support your arguments.

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When you need to set the direction, SWOT analysis is a classic tool

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What is SWOT analysis?

The benefits of a swot analysis, swot analysis example, how to do a swot analysis, how to use a swot analysis.

A SWOT analysis is a useful technique for thinking about strategy and making decisions.

Teams and organizations use this strategic planning tool to decide on a course of action. It is a way to assess current and future potential.

SWOT is a classic tool for any strategist. On its own, however, it may not meet the needs of a complex organization in a rapidly changing world . That doesn't mean it isn't useful, though.

A SWOT analysis is a useful way to look at your team. When combined with an outside-in look at broader trends and where markets are moving, it can help you define and prioritize initiatives.

But how do you use a SWOT analysis? And what are some SWOT analysis examples?

Here’s how to use this popular framework to make an informed decision . We’ve also included a SWOT analysis template for you to jumpstart your next collaboration session .

A SWOT analysis is a method used to assess a company’s internal and external environments. It involves identifying your company’s strengths , weaknesses , opportunities, and threats . Its effectiveness relies on an assumption that the company can adequately assess its external environment. This assumption doesn't hold when competitors emerge from unexpected and adjacent domains.

The SWOT assessment technique helps measure a business’ competitive advantage. Competitive advantage is essentially what makes your business special compared to other businesses in your field. It’s why your customers choose you.

By doing a SWOT analysis, you can gain insights into where your business is, where it could be, and what you can do to get there. This important information helps you with the decision-making process and strategic planning .

What are the 4 factors of a SWOT analysis?

To understand the SWOT framework, you need to know what SWOT stands for. Let's break down the acronym:

W eaknesses

O pportunities

T hreats

collaborative-team-in-discussion-swot-analysis

Below are some examples of what could fall under each of the four fields:

Strengths are advantages your business holds, such as:

A positive work environment
A well-balanced and capable team
Beneficial relationships with certain suppliers

Internal weaknesses are what might be holding your business back. They could include the following:

Poor management
Not handling complaints in the best way
Unnecessary overhead costs

Opportunities

Look for opportunities to build on your internal strengths and eliminate or reduce your weaknesses. Opportunities may include:

Employees who are willing to take on training to expand their skill set
New technology to streamline your business processes
Any opportunity to collaborate with other businesses in parallel fields

A threat could be something that hinders you in the long run or ruins a good opportunity for expansion. Here are a few external threats that could harm your business:

Overspending without proper analysis
A new, similar business with more start-up capital opening in your vicinity
Discrimination , workplace coercion , or other poor behavior from difficult employees

Here are some ways a SWOT analysis can benefit your business.

It gives direction. A SWOT analysis is like a GPS. It tells you where you are, where you could be, and how to get there. It also allows you to take stock of your inventory, your immediate and distant surroundings, and any shortcuts that you might not have spotted before.
It helps set objectives. Having concrete business objectives is important, but finding those objectives can be difficult. Using a SWOT analysis, you can set better team goals . It can help you clearly see the steps that need to be taken to build on strengths and shore up weaknesses.
It is an effective decision-making tool. A SWOT analysis allows you to gather the information necessary to make a well-informed decision and set priorities. There’s no way of learning from past mistakes or successes if there’s no period of reflection before moving forward. A SWOT analysis forces you to pause and analyze past decisions to plan your next steps.
It promotes collaboration. A SWOT analysis encourages collaborative teamwork . It makes your team feel heard and understood before moving forward together. Allowing your team to be present while making important decisions is important to building mutual trust . Use this as an opportunity to allow your team members to speak up and voice their opinions, ideas, and concerns.

collaborative-employees-working-together-swot-analysis

As you go through this process with your employees, note the qualities that make this team valuable. Showing appreciation for the people you work with builds a positive company culture . Recognizing your employees’ competencies is a brilliant way to raise morale .

It helps you identify areas of improvement. If you conduct a SWOT analysis on a semi-regular basis, you’ll begin to identify areas where you’ve improved, both externally and in your relationships as a team . Use this time to discuss whether previous threats or weaknesses have been properly addressed.
It helps you capitalize on opportunities. A SWOT analysis is a great tool for finding opportunities and coming up with ways you can capitalize on them. If an opportunity has presented itself in the months or weeks leading up to the meeting, you’ll have a concrete set of objectives that’ll help you achieve your goals . Be sure to search for these opportunities both internally and externally. Opportunity doesn’t just have to be about profit. It can also relate to a better management structure , a valuable new employee , or even a way of handling a difficult interpersonal situation .
It can be used to deter threats. A SWOT analysis can be used to identify any potential threats on the horizon. Is a new business trying to steal your clients or headhunt your employees? Identifying threats before they pose a serious risk to your business is vital.
It gives the team better insight. With a SWOT analysis, your team gains better insight into the company’s current situation. Your team should walk away with a good understanding of the business, its objectives, and how they’re going to be achieved. If everyone knows what’s happening, miscommunication is less likely to occur.
It promotes strategic alignment. When management and employees work together, better systems are built. Employees might have knowledge of a weakness that management isn’t aware of. Once management knows more, measures can be put into place to improve workflow and reduce any issues or unnecessary expenditure.
It helps you assess whether your team is on the right path. A SWOT analysis helps you see if you’re moving in the right direction. How have things progressed since your last analysis? Is everything that was discussed still on track? Using this tool will help you and your team gain a bird’s-eye view of the company’s trajectory.

To see this method in action, let’s look at a SWOT analysis example of a small business.

After operating for five years, Suzanne wants to see if her online fitness coaching business is performing well as a business. She employs a team of five people, which includes three online trainers, a digital marketing specialist, and herself. Because of the small team, she is in charge of all admin duties and human resources management .

The market when she started the business was rather different from the market today. She decides it’s time to do a SWOT analysis.

By using a SWOT matrix, she breaks down the organization’s strengths, weaknesses, opportunities, and threats into four quadrants:

You can use this example as a template for doing your own SWOT analysis.

Let’s walk through a step-by-step guide on how to do a SWOT analysis for the very first time:

1. Designate a leader or facilitator

Having one person lead the session will keep things on track. They should have good communication skills and be able to manage productive conflict .

This doesn’t necessarily have to be a manager , but rather someone you know is good at group coordination and setting boundaries .

2. Introduce the SWOT method to the team

Once you’ve assembled the team, introduce the concept of a SWOT analysis. This way, everyone can know what to expect from the session and what is expected of them.

To help speed this process up, consider forwarding this article to your team so that everyone is somewhat familiar with the process.

3. Determine the objective

Once everyone knows what’s going on, tell them why you’re all there.

Is this just an exercise to make sure the business is on track? Is there a potential threat or opportunity that needs to be discussed?

Once you have a clear objective, the meeting will have a natural direction.

4. Brainstorm

Having a brainstorming session with your team will make everyone feel heard and valued. This way, you can get different perspectives and ideas you may not have thought of yourself. It might also be a good opportunity to see where everyone's strengths lie.

Take some time (but keep a limit on it) to get everyone’s creative juices flowing . Use a time blocking strategy , such as the Pomodoro technique, to ensure you don’t go over time. By the end of your timed session, you should have an extensive list of strengths, weaknesses, opportunities, and threats.

two-colleagues-brainstorming-ideas-swot-analysis

5. Analyze the internal and external environment

After the brainstorming session, take time to discuss internal and external affairs through the lens of the SWOT analysis.

Why did certain ideas come up? Where do we think the next threat could come from? How are ‌employees feeling in their roles ? Conduct a thorough analysis of these ideas.

6. Record all ideas and thoughts

Having everything on record is the best way to get the most out of a SWOT session. Make sure someone is taking minutes that you can relay to everyone after the meeting so that no valuable information is lost.

7. Be selective

Once everything has been laid out on the table, discuss the validity of what’s there. Make sure this is a democratic process and that you have conclusive discussions before ignoring a suggestion or concern. The selection process should also be recorded for future sessions.

8. Create a safe environment so that everyone can contribute

It’s vital that all are made to feel safe , seen, heard, and supported during these sessions. If only a handful of people are contributing, the exercise bears limited fruit.

If there are certain people who are staying silent, ask them why they don’t feel comfortable taking part. This should be a safe space for all.

You’ve conducted your SWOT analysis. Now what? Here are what actions to take to make the most out of your SWOT analysis.

1. Assess the possible strategic options

Using the data you’ve gathered, begin to assess what the best steps could be moving forward.

For example, could one of your company’s strengths help you take advantage of a possible opportunity? Start to link the ideas discussed in the meeting to see what outcomes could be beneficial.

2. Prepare an action plan/strategy

Now that you have your bearings, examine these options and see if they’re feasible. Your strengths and weaknesses should provide a foundation as to how you can tackle possible threats and opportunities.

Compile a list of short and long-term goals that’ll steer your business in the right direction. Be sure to understand the difference between tactics and strategy while going through this phase of the planning process.

3. Decide how to measure success

Not setting metrics is a crucial mistake in strategic management . Without metrics, it is easy to go off-track and lose sight of ‌long-term objectives.

Measuring success depends on what your goals are . If the goal is concrete (secure 50 new clients, for example), success will be easier to measure. If your goal is less tangible, such as building a sense of belonging at work , it might be wise to conduct research to see how far you’ve come.

team-members-prioritizing-tasks-swot-analysis

4. Prioritize next steps

Decide which goals need to be tackled when. An opportunity may be missed if you’re focusing on something less important, so it’s vital to put the steps into a sensible, workable order. Using the Pareto principle can help you prioritize the activities that really matter.

5. Be open to change

As your business grows and situations change, it’s important to be flexible with your goals . If an opportunity falls through, make sure that plans are still being made and work is still being done. This will help avoid delays and confusion.

6. Review progress, and refresh the plan

A SWOT analysis is something that you need to carry out regularly. Track how your business performs between these meetings so that you can keep tabs on your growth, goals, and accomplishments.

Drive growth with a SWOT analysis

If you want to plan, execute, and succeed in your business, using a SWOT analysis is going to be an important tool. The SWOT method lets you get the most out of your team and offers you the perspective on your business that you need.

A SWOT analysis isn’t just your roadmap to success. It’ll begin to form a clear record of your history as well. Analyzing past accomplishments and failures is the best way to grow, both as an individual and a business.

With the SWOT method, you’ll create a close-knit team, a comprehensive list of goals, and a full picture of your company’s identity.

If this sounds like something you need in your business, talk to BetterUp to see how we can help.

Lead with confidence and authenticity

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Maggie Wooll, MBA

Maggie Wooll is a researcher, author, and speaker focused on the evolving future of work. Formerly the lead researcher at the Deloitte Center for the Edge, she holds a Bachelor of Science in Education from Princeton University and an MBA from the University of Virginia Darden School of Business. Maggie is passionate about creating better work and greater opportunities for all.

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StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2024 Jan-.

StatPearls [Internet].

Swot analysis.

Dac Teoli ; Terrence Sanvictores ; Jason An .

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Last Update: September 4, 2023 .

Definition/Introduction

SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. There is no universally-accepted creator. Also known as the SWOT Matrix, it has achieved recognition as useful in differentiating and establishing a niche within the broader market. Beyond the business world, SWOT Analysis can also be applied to the individual-level to assess a person's situation versus their competition further. There are both internal and external considerations build into the tool. "Strengths" and "weaknesses" are internally-related. The former representing a facet of an organization/entity which lends it an advantage over the competition. The latter being characteristic of that same entity, which leads to a relative disadvantage against the competition. Regarding externally-related, "opportunities" are realities in the greater environment that can be exploited to benefit the entity. While on the other hand, "threats" are realities in the greater environment, which might lead to problems for the entity.

The concept of strategic fit, a ubiquitous objective sought by all organizations, can be explained as to how well the internally-related factors fit with the externally-related factors. [1]

Issues of Concern

While the SWOT analysis is widely known to facilitate the formation of organizational or personal strategy by assessing internal and external elements, it also has its criticisms. Some critics feel that the tool proves to be too superficial and formulaic, consequently hindering performance as outputs might be misunderstood or misused. This latter point is especially pertinent when SWOT analysis is attempted without real critical reflection by a collective group. Having only a few individuals perform the assessment increases the risk of misrepresentation of the SWOT inputs, leading to erroneous outputs. Also, organizations can anchor on one facet of the analysis, losing sight of the other critical elements of the matrix. Lastly, the SWOT captures the internal and external aspects of a single time-point. In reality, the environment is rapidly evolving. [2] [3]

Clinical Significance

Given that the SWOT Analysis looks at factors both inside and outside an entity, it is also occasionally labeled as an Internal-External Analysis. In consideration of the broad nature of the tool, it has both organizational and individual utility. Although borne out of the business world, it does have clinical applicability such as at the organizational level.

At the level of hospital or clinical offices, implementation of SWOT is achievable by asking questions such as the following:

What are the organization's advantages?
What can you do better than others?
What unique or lowest-cost services can you provide patients?
What do patients in your market see as your organization's strength?

Weaknesses:

Upon what factors could the organization improve?
What are patients in your market likely to see as your organization's weakness?
What lack of services loses your organization patients?

Opportunities:

What good opportunities are available to your organization?
What are the new and exciting trends your organization can try?
What new changes to governmental regulation/policy can benefit your organization?
What problems does your organization face?
Of what are your organization's competitors taking advantage?
Do evolving technologies and new services threatening your organization's position in the minds of patients?
Does your facility have cash-flow problems?
Could any of your weaknesses threaten quality patient care? [4] [5] [6]
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Disclosure: Dac Teoli declares no relevant financial relationships with ineligible companies.

Disclosure: Terrence Sanvictores declares no relevant financial relationships with ineligible companies.

Disclosure: Jason An declares no relevant financial relationships with ineligible companies.

This book is distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) ( http://creativecommons.org/licenses/by-nc-nd/4.0/ ), which permits others to distribute the work, provided that the article is not altered or used commercially. You are not required to obtain permission to distribute this article, provided that you credit the author and journal.

Cite this Page Teoli D, Sanvictores T, An J. SWOT Analysis. [Updated 2023 Sep 4]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2024 Jan-.

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Article • 17 min read

SWOT Analysis

Understanding your business, informing your strategy.

By the Mind Tools Content Team

Key Takeaways:

SWOT stands for S trengths, W eaknesses, O pportunities, and T hreats.

A "SWOT analysis" involves carefully assessing these four factors in order to make clear and effective plans.

A SWOT analysis can help you to challenge risky assumptions, uncover dangerous blindspots, and reveal important new insights.

The SWOT analysis process is most effective when done collaboratively.

What Is a SWOT Analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business.

SWOT Analysis is a tool that can help you to analyze what your company does best now, and to devise a successful strategy for the future. SWOT can also uncover areas of the business that are holding you back, or that your competitors could exploit if you don't protect yourself.

A SWOT analysis examines both internal and external factors – that is, what's going on inside and outside your organization. So some of these factors will be within your control and some will not. In either case, the wisest action you can take in response will become clearer once you've discovered, recorded and analyzed as many factors as you can.

In this article, video and infographic, we explore how to carry out a SWOT analysis, and how to put your findings into action. We also include a worked example and a template to help you get started on a SWOT analysis in your own workplace.

Why Is SWOT Analysis Important?

SWOT analysis can help you to challenge risky assumptions and to uncover dangerous blindspots about your organization's performance. If you use it carefully and collaboratively, it can deliver new insights on where your business currently is, and help you to develop exactly the right strategy for any situation.

For example, you may be well aware of some of your organization's strengths, but until you record them alongside weaknesses and threats you might not realize how unreliable those strengths actually are.

Equally, you likely have reasonable concerns about some of your business weaknesses but, by going through the analysis systematically, you could find an opportunity, previously overlooked, that could more than compensate.

How to Write a SWOT Analysis

SWOT analysis involves making lists – but so much more, too! When you begin to write one list (say, Strengths), the thought process and research that you'll go through will prompt ideas for the other lists (Weaknesses, Opportunities or Threats). And if you compare these lists side by side, you will likely notice connections and contradictions, which you'll want to highlight and explore.

You'll find yourself moving back and forth between your lists frequently. So, make the task easier and more effective by arranging your four lists together in one view.

A SWOT matrix is a 2x2 grid, with one square for each of the four aspects of SWOT. (Figure 1 shows what it should look like.) Each section is headed by some questions to get your thinking started.

Figure 1. A SWOT Analysis Matrix.

Swot analysis template.

When conducting your SWOT analysis, you can either draw your own matrix, or use our free downloadable template .

How to Do a SWOT Analysis

Avoid relying on your own, partial understanding of your organization. Your assumptions could be wrong. Instead, gather a team of people from a range of functions and levels to build a broad and insightful list of observations.

Then, every time you identify a Strength, Weakness, Opportunity, or Threat, write it down in the relevant part of the SWOT analysis grid for all to see.

Let's look at each area in more detail and consider what fits where, and what questions you could ask as part of your data gathering.

Strengths are things that your organization does particularly well, or in a way that distinguishes you from your competitors. Think about the advantages your organization has over other organizations. These might be the motivation of your staff, access to certain materials, or a strong set of manufacturing processes.

Your strengths are an integral part of your organization, so think about what makes it "tick." What do you do better than anyone else? What values drive your business? What unique or lowest-cost resources can you draw upon that others can't? Identify and analyze your organization's Unique Selling Proposition (USP), and add this to the Strengths section.

Then turn your perspective around and ask yourself what your competitors might see as your strengths. What factors mean that you get the sale ahead of them?

Remember, any aspect of your organization is only a strength if it brings you a clear advantage. For example, if all of your competitors provide high-quality products, then a high-quality production process is not a strength in your market: it's a necessity.

Weaknesses, like strengths, are inherent features of your organization, so focus on your people, resources, systems, and procedures. Think about what you could improve, and the sorts of practices you should avoid.

Once again, imagine (or find out) how other people in your market see you. Do they notice weaknesses that you tend to be blind to? Take time to examine how and why your competitors are doing better than you. What are you lacking?

Be honest! A SWOT analysis will only be valuable if you gather all the information you need. So, it's best to be realistic now, and face any unpleasant truths as soon as possible.

Opportunities

Opportunities are openings or chances for something positive to happen, but you'll need to claim them for yourself!

They usually arise from situations outside your organization, and require an eye to what might happen in the future. They might arise as developments in the market you serve, or in the technology you use. Being able to spot and exploit opportunities can make a huge difference to your organization's ability to compete and take the lead in your market.

Think about good opportunities that you can exploit immediately. These don't need to be game-changers: even small advantages can increase your organization's competitiveness. What interesting market trends are you aware of, large or small, which could have an impact?

You should also watch out for changes in government policy related to your field. And changes in social patterns, population profiles, and lifestyles can all throw up interesting opportunities.

Threats include anything that can negatively affect your business from the outside, such as supply-chain problems, shifts in market requirements, or a shortage of recruits. It's vital to anticipate threats and to take action against them before you become a victim of them and your growth stalls.

Think about the obstacles you face in getting your product to market and selling. You may notice that quality standards or specifications for your products are changing, and that you'll need to change those products if you're to stay in the lead. Evolving technology is an ever-present threat, as well as an opportunity!

Always consider what your competitors are doing, and whether you should be changing your organization's emphasis to meet the challenge. But remember that what they're doing might not be the right thing for you to do. So, avoid copying them without knowing how it will improve your position.

Be sure to explore whether your organization is especially exposed to external challenges. Do you have bad debt or cash-flow problems, for example, that could make you vulnerable to even small changes in your market? This is the kind of threat that can seriously damage your business, so be alert.

Use PEST Analysis to ensure that you don't overlook threatening external factors. And PMESII-PT is an especially helpful check in very unfamiliar or uncertain environments.

A SWOT Analysis Example

Imagine this scenario: a small start-up consultancy wants a clear picture of its current situation, to decide on a future strategy for growth. The team gathers, and draws up the SWOT Analysis shown in Figure 2.

Figure 2. A Completed SWOT Analysis.

As a result of the team's analysis, it's clear that the consultancy's main strengths lie in its agility, technical expertise, and low overheads. These allow it to offer excellent customer service to a relatively small client base.

The company's weaknesses are also to do with its size. It will need to invest in training, to improve the skills base of the small staff. It'll also need to focus on retention, so it doesn't lose key team members.

There are opportunities in offering rapid-response, good-value services to local businesses and to local government organizations. The company can likely be first to market with new products and services, given that its competitors are slow adopters.

The threats require the consultancy to keep up-to-date with changes in technology. It also needs to keep a close eye on its largest competitors, given its vulnerability to large-scale changes in its market. To counteract this, the business needs to focus its marketing on selected industry websites, to get the greatest possible market presence on a small advertising budget.

Frequently Asked Questions About SWOT Analysis

1. who invented swot analysis.

Many people attribute SWOT Analysis to Albert S. Humphrey. However, there has been some debate on the originator of the tool, as discussed in the International Journal of Business Research .

2. What Does SWOT Analysis Stand For?

SWOT Analysis stands for Strengths, Weaknesses, Opportunities and Threats.

3. What Can a SWOT Analysis Be Used For?

SWOT analysis is a useful tool to help you determine your organization's position in the market. You can then use this information to create an informed strategy suited to your needs and capabilities.

4. How Do I Write a SWOT Analysis?

To conduct a SWOT analysis, you first need to create a 2x2 matrix grid. Each square is then assigned to one of the four aspects of SWOT. You can either draw this grid yourself or use our downloadable template to get started.

5. How Do SWOT Analysis and the TOWS Matrix compare?

While SWOT analysis puts the emphasis on the internal environment (your strengths and weaknesses), TOWS forces you to look at your external environment first (your threats and opportunities). In most cases, you'll do a SWOT Analysis first, and follow up with a TOWS Matrix to offer a broader context.

6. What Are the Biggest SWOT Analysis Mistakes?

Making your lists too long. Ask yourself if your ideas are feasible as you go along.
Being vague. Be specific to provide more focus for later discussions.
Not seeing weaknesses. Be sure to ask customers and colleagues what they experience in real life.
Not thinking ahead. It's easy to come up with nice ideas without taking them through to their logical conclusion. Always consider their practical impact.
Being unrealistic. Don't plan in detail for opportunities that don't exist yet. For example, that export market you've been eyeing may be available at some point, but the trade negotiations to open it up could take years.
Relying on SWOT Analysis alone. SWOT Analysis is valuable. But when you use it alongside other planning tools (SOAR, TOWS or PEST), the results will be more vigorous.

How to Use a SWOT Analysis

Use a SWOT Analysis to assess your organization's current position before you decide on any new strategy. Find out what's working well, and what's not so good. Ask yourself where you want to go, how you might get there – and what might get in your way.

Once you've examined all four aspects of SWOT, you'll want to build on your strengths, boost your weaker areas, head off any threats, and exploit every opportunity. In fact, you'll likely be faced with a long list of potential actions.

But before you go ahead, be sure to develop your ideas further. Look for potential connections between the quadrants of your matrix. For example, could you use some of your strengths to open up further opportunities? And, would even more opportunities become available by eliminating some of your weaknesses?

Finally, it's time to ruthlessly prune and prioritize your ideas, so that you can focus time and money on the most significant and impactful ones. Refine each point to make your comparisons clearer. For example, only accept precise, verifiable statements such as, "Cost advantage of $30/ton in sourcing raw material x," rather than, "Better value for money."

Remember to apply your learnings at the right level in your organization. For example, at a product or product-line level, rather than at the much vaguer whole-company level. And use your SWOT analysis alongside other strategy tools (for example, Core Competencies Analysis ), so that you get a comprehensive picture of the situation you're dealing with.

SWOT Analysis Tips

Here are four tips for getting more out of a SWOT analysis:

Be specific. The more focused and accurate you are about the points you write down, the more useful your SWOT analysis will be.
Work backwards. Experiment with filling in the four sections of your SWOT analysis in a different order, to stimulate new ways of thinking. Working backwards, in particular, from threats to strengths, may cast new light on the situation.
Get together. Highlight the most useful people to contribute to your SWOT analysis, then gather information and ideas from them all.
SWOT your competition ! To stay ahead of your competitors, carry out a regular SWOT analysis on them . Use everything you know about them to evaluate their situation, and use SWOT analysis to plan your competitive strategies accordingly.

It's also possible to carry out a Personal SWOT Analysis . This can be useful for developing your career in ways that take best advantage of your talents, abilities and opportunities.

SWOT Analysis Infographic

See SWOT Analysis represented in our infographic :

SWOT Analysis helps you to identify your organization's Strengths, Weaknesses, Opportunities, and Threats.

It guides you to build on what you do well, address what you're lacking, seize new openings, and minimize risks.

Apply a SWOT Analysis to assess your organization's position before you decide on any new strategy.

Use a SWOT matrix to prompt your research and to record your ideas. Avoid making huge lists of suggestions. Be as specific as you can, and be honest about your weaknesses.

Be realistic and rigorous. Prune and prioritize your ideas, to focus time and money on the most significant and impactful actions and solutions. Complement your use of SWOT with other tools.

Collaborate with a team of people from across the business. This will help to uncover a more accurate and honest picture.

Find out what's working well, and what's not so good. Ask yourself where you want to go, how you might get there – and what might get in your way.

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SWOT is useless. When you try it and you find Weaknesses box bulging, but Strengths & Opportunities completely empty, what can that possibly achieve?

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SWOT analysis

The SWOT analysis is a strategic planning tool that encourages group or individual reflection on and assessment of the S trengths, W eaknesses, O pportunities and T hreats of a particular strategy and how to best implement it.

SWOT analysis originated in business and marketing analysis.

IFAD ( International Fund for Agricultural Development ) describes this option as ‘useful when qualitatively assessing, for example, the services provided by the project, relationships between project stakeholders and the organisations of the implementing partners, local groups and the project team itself’ ( IFAD Options for Monitoring and Evaluation, Annex D, page D 21 ) .

It is useful in various evaluation tasks, both as a data collection option to gather and retrieve monitoring information and in the scoping phase as an initial analysis ‘describing’ a program, to assess a problem in-depth and focus evaluation questions.

The SWOT framework - a two-by-two matrix - is best completed in a group with key team members or organisations present. First, it is important to be clear about the objective and what team or organisation the analysis will focus on. Once these are clarified and agreed, begin with a brainstorm of ideas, and then hone them down and clarify them afterwards in the discussion.

Strengths and Weaknesses describe ‘where the project or organisation is now: the existing resources that can be used immediately and current problems that won't go away. It can help identify where new resources, skills or allies will be needed’ ( Start and Hovland 2004 ). Both refer to ‘technical, financial, promotional, networking, knowledge’ ( BDS Business Development Services Forum ) or competency-based factors internal to the programme. ‘When thinking of strengths, it is useful to think of real examples of success to ground and clarify the conversation’ ( Start and Hovland 2004 ). Strengths are ‘those things that are working well in a project or situation. The aspects people are proud to talk about’ ( IFAD ) and which differentiate the program from others. Weaknesses are ‘those things that have not worked well’ or that the program is less efficient in than others.

Opportunities and Threats describe ‘what is going on outside the organisation, or areas which are not yet affecting the strategy but could do’ ( Start and Hovland 2004 ). Opportunities include ‘ideas on how to overcome weaknesses and build on strengths’ ( IFAD ) within the environment the program operates in. Threats are ‘things that constrain or threaten the range of opportunities for change’ in the programme environment. These external aspects are often related to ‘sociological, political, demographic, economic, trade-specific’ and environmental factors ( BDS ).

Example of SWOT analysis for small NGO

The following example is an excerpt from Start, D. and Hovland, I. (2004) p.2:

We are able to follow-up on this research as the current small amount of work means we have plenty of time
Our lead researcher has strong reputation within the policy community
Our organisation's director has good links to the Ministry

Weaknesses:

Our organisation has little reputation in other parts of government
We have a small staff with a shallow skills base in many areas
We are vulnerable to vital staff being sick, leaving, etc

Opportunities:

We are working on a topical issue
The government claims to want to listen to the voice of local NGOs
Other NGOs from our region will support us
Will the report be too politically sensitive and threaten funding from sponsors?
There is a pool of counter-evidence that could be used to discredit our research and therefore our organisation.

The NGO might therefore decide, amongst other things, to target the report to specific patrons in the one ministry, use their lead researcher to bring credibility to the findings and work on building up a regional coalition on the issue.

Advice for choosing this method

"A SWOT analysis can reveal hidden obstacles to a planned project, especially when participants come from different departments or geographical areas in the same organization. In the same way, SWOT can identify positive elements that may not be readily evident. Used properly, SWOT can generate valuable data quickly and be an example of 'strength in numbers'" (Impact Alliance).
They are independent of baseline data or indicators.
They are a simple tool that is easy-to-grasp and quick to implement.
SWOT is usually a ‘snap shot’ tool that is used in a one-off scenario to reflect on a subject from all angles; it is rarely repeated over time, even though this might be a possible variation. If this variation is used, consider how you will make change visible across two or more SWOTs.

Advice for using this method

The single most important rule to remember when completing a SWOT analysis is that strengths and weaknesses are internal aspects, which can be controlled by the program under evaluation. In contrast, opportunities and threats are external aspects, which are outside of the control of the program and are determined by its environment.
When interpreting a SWOT analysis, it is important to look for instances where internal strengths are paralleled by external market opportunities. Equally, it is important to spot instances where internal program weaknesses are matched by corresponding external threats. For instance, a lack of evaluation expertise within a program (internal) which is paralleled by an increase in M&E demands by donors (external) must be addressed through risk management.

This annex to the International Fund for Agricultural Development's (IFAD) A Guide for Project M&E (PDF), summarises 34 useful methods for specific M&E tasks.

Section 9 of this toolkit from the Overseas Development Institute (ODI) provides guidance on the use of SWOT analysis to find the strengths, weaknesses, opportunities and threats of a project or plan.

This webpage from Business Development Systems (BDS) (archived link) analyses the some of the problems associated with indicators and impact evaluation and argues that more attention needs to be paid activity monitoring.

This guide from Impact Alliance provides a description of the SWOT tool, outlines examples for different uses and applications, offers two different ways to conduct a SWOT analysis, and concludes with a description of how to interpret and apply SWOT.

Business Development Services (BDS) Forum, ‘Complete manual for SWOT analysis’, https://web.archive.org/web/20100317123000/http://www.bds-forum.net/m+e.htm (archive link - accessed 16 December 2010)

IFAD, ‘Options for Monitoring and Evaluation, Annex D’, page D 21, http://www.ifad.org/evaluation/guide/annexd/Annex_D-3DEF.pdf (PDF, 412KB) (accessed 16 December 2010)

Impact Alliance, User’s Guide for SWOT Analysis, http://www.impactalliance.org/file_download.php?location=S_U&filename=10227014460SWOT_Guide.pdf (accessed 16 December 2010)

Start, D. and Hovland, I. (2004): SWOT Analysis, Tools for Policy Impact: A Handbook for Researchers, Overseas Development Institute, https://odi.org/en/publications/tools-for-policy-impact-a-handbook-for-researchers/ (accessed 21 December 2010)

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'SWOT analysis' is referenced in:

Using logic models and theories of change better in evaluation
What are some methods and processes to help stakeholders articulate how they think a program works? (AES17 co-creation challenge #1)

Framework/Guide

Rainbow Framework : Collect and/ or retrieve data
Rainbow Framework : Develop theory of change / programme theory

To read this content please select one of the options below:

Please note you do not have access to teaching notes, exploring swot analysis – where are we now a review of academic research from the last decade.

Journal of Strategy and Management

ISSN : 1755-425X

Article publication date: 10 August 2010

The purpose of this study is to examine the use of the strategic management tool, Strengths‐Weaknesses‐Opportunities‐Threats or SWOT analysis, and to assess how the methodology has been used as well as changes to the methodology. The findings both for and against SWOT analysis should lead to a balanced view of the technique as well as yield ideas for needed theory building.

Design/methodology/approach

Using the ABInform Global® database, academic peer‐reviewed articles were compiled indicating SWOT as one of the article's key index and search words.

The use of SWOT analysis continues to permeate the academic peer‐reviewed literature. Research supports SWOT analysis as a tool for planning purposes. Over the past decade, SWOT research has focused on analyzing organizations for recommended strategic actions. As a methodology for strategic positioning, SWOT analysis has been extended beyond companies to countries and industries and is used in virtually every published business case positioned for business student analysis. Additional use of SWOT is as teaching tools by consultants, trainers and educators. This paper provides a summary of the research studies and suggests paths for future research.

Research limitations/implications

This paper is limited to analyzing reports found in a selection of academic peer‐reviewed business journals. However, research implications for applying SWOT analysis provides a broad spectrum of industry analysis in North America, Europe, and Asia. Additional limitations are the need to link SWOT analysis to other strategic tools and methodologies for further theory building, since past research continues to lack quantifiable findings on the success of the SWOT analysis.

Practical implications

A fresh view of new directions and implementations for SWOT analysis, as well as other strategic planning tools that can be combined with SWOT, provides guidance for practitioners and policy makers alike.

Originality/value

The article adds value to the existing literature as the first summary of SWOT research indicating its uses and limitations. Support of its usage and place in the strategic literature is validated. The SWOT methodology is pervasive, in large part, due to its simplicity. In addition, the use of SWOT as a proven developmental, results‐oriented strategic planning tool is also extended, although further research leading to theory building is warranted and recommended.

SWOT analysis
Strategic management
Research methods
Globalization

Helms, M.M. and Nixon, J. (2010), "Exploring SWOT analysis – where are we now? A review of academic research from the last decade", Journal of Strategy and Management , Vol. 3 No. 3, pp. 215-251. https://doi.org/10.1108/17554251011064837

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SWOT Analysis Example: Definition and Template

SWOT analysis provides a comprehensive framework with a SWOT analysis example for evaluating internal and external factors impacting a company’s performance and competitiveness. By identifying a company’s strengths and weaknesses within the organization and analyzing opportunities and threats of different perspectives in the external environment, a SWOT analysis enables businesses to develop strategies for a new project that leverage their strengths, mitigate weaknesses, capitalize on opportunities, and overcome threats and negative factors

A SWOT analysis example can be valuable for understanding how this analytical strategic planning technique can be applied in practical scenarios. Whether you are a business professional, an entrepreneur, or a student studying strategic management, this SWOT analysis example will provide valuable insights and a deeper appreciation of the power of this analytical tool. So let’s dive into SWOT analysis examples and unlock the potential for strategic success with intellectual property!

SWOT Analysis: Definition

SWOT analysis is defined as an acronym for Strengths, Weakness, Opportunities, and Threats which is an effective market research analysis technique. Usually, SWOT analysis is used to evaluate an organization’s performance in the market and is used for developing effective business strategies.

LEARN ABOUT: Market research industry

This SWOT analysis framework, which is now a trusted assessment source that organizations rely on to understand the scope of opportunities, value proposition, and threats by analyzing the strengths and weaknesses.

SWOT Analysis with Internal and External Factors

Strengths and weaknesses are primarily for internal analysis of an organization (in terms of market reputation, manufacturing line location, patents, etc.). To improve these good SWOT analysis factors, constant work needs to be put in over a course of time. But, opportunities and threats are external (in terms of competition, prices, associated partners, etc.) to an organization and they have no control over the changes that might occur to these external factors.

LEARN ABOUT: Market Evaluation

SWOT analysis is also used in micro situations such as –

When an organization’s strength is the product quality and there are chances of conversion of a particular deal, it will be advisable for the organization to assign a capable workforce for the closure of this deal. It is a SWOT analysis example of internal factors.
Identifying weaknesses and their corresponding hindrances, the organization can strategize on how to overcome the weaknesses. For instance, if the sales results are a definite weakness for a company, they can try to minimize or eliminate it by regular training for the sales employees, providing access to multiple tools so that they can work off their skills, implementation of an efficient Customer Relationship Management software and other such corrective measures can be taken through this SWOT analysis. It is a good SWOT analysis example.
A competitor losing its customers and going bankrupt can be a huge business opportunity for an organization intending to expand operations. Proactive research on how to operate, demographic segmentation and taking advantages of the identified strengths to ensure the competitor’s market is explored.
Taking into consideration, organizational strengths and weaknesses, factors which may cause harm to the organization’s reputation can be identified. Considering swot analysis example, if the market forecast suggests a downfall in the economy, an organization can be prepared for it by reducing unwanted expenditures, appointing existing star-performers for sales conversions, etc.

Organizations conduct SWOT analysis extensively to make internal (strengths and weaknesses evaluation) and external (opportunities and threat evaluation) improvements as it can access an excessive pool of information with SWOT analysis examples. Already-existent companies should execute this strategic competitive analysis method at least once or twice a year to make sure they proactively analyze their market to keep making enhancements in various aspects of their organization.

Learn more: Market Research Survey

Importance of SWOT Analysis

The importance of SWOT analysis lies in its ability to provide organizations with a structured framework to assess their current situation and make informed decisions with a SWOT analysis example. Here are some key reasons why SWOT analysis is essential:

Strategic Planning:

SWOT analysis is a fundamental tool in business strategy. It helps organizations identify their internal weaknesses and strengths, and also external opportunities and threats. This information is crucial for formulating effective strategies that leverage strengths, address weaknesses, capitalize on opportunities, and mitigate threats.

Competitive Advantage:

SWOT analysis helps organizations identify and leverage their unique strengths to gain a competitive advantage in the market. By understanding market gaps, trends, and consumer preferences, organizations can align their strategies to exploit opportunities and differentiate themselves from competitors.

Alignment of Resources:

SWOT analysis helps organizations align their resources, such as financial, human, and technological, with their strategic objectives. By identifying internal strengths, organizations can allocate resources to areas where they are most effective. It ensures optimal resource allocation and maximizes organizational efficiency.

Risk Assessment:

SWOT analysis enables organizations to evaluate external threats and opportunities that may impact their operations. Organizations can develop contingency plans and proactively respond to challenges by identifying potential risks. Additionally, recognizing opportunities allows organizations to capitalize on market trends and gain competitive advantages.

Decision Making:

SWOT analysis provides a systematic approach to decision-making. It offers a comprehensive overview of various factors influencing an organization’s success. By weighing the internal and external factors, decision-makers can make informed choices that align with the organization’s goals and objectives.

Enhanced Communication and Collaboration:

SWOT analysis encourages collaboration and communication among organizational stakeholders. It brings diverse perspectives and insights, fostering a shared understanding of the organization’s strengths, weaknesses, opportunities, and threats. This collaborative approach promotes a more comprehensive and holistic decision-making process.

SWOT analysis is a necessary tool for organizations of all sizes and industries. It enables them to assess their current market position, identify key factors influencing their success, and make strategic decisions to achieve their goals.

Free SWOT Analysis Template in Market Research

A free SWOT analysis template can be a valuable resource in market research to assess an organization’s factors. The free SWOT Analysis template is a walk-through of how to conduct SWOT analysis using the 4 models: Strength, Weaknesses, Opportunities and Threat analysis. Here are the 4 SWOT Analysis templates in details:

What is the organization good at doing? What are the key differentiators they offer? What are the primary resources they have?

Strengths depict the positive factors of an organization which they can control. They can be analyzed by dividing the organization into sales, finance, marketing plan, market share, research and development, and other structural elements. Strengths involve the positive contribution of key stakeholders in terms of experience, knowledge, educational background and such skills that contribute towards the performance of an organization. This SWOT analysis factor also includes tangible assets such as distribution channel, existing customers, generated finance, accessories etc.

Factors that add value to an organization’s operation by internal factors of a SWOT analysis and in turn build a competitive advantage called Strengths.

Learn more: Quantitative Market Research

Weaknesses:

Where do you think there is a scope for improvement?

Weaknesses are those elements of the business which still need a lot of enhancement and are bringing the organization down in more than one way. There are certain areas of business which might not be shaping up according to expectation and this is leading to friction in achieving the desired goals.

Segments such as subject matter expertise, lack of financial support, unavailability of appropriate technological tools for training, an inappropriate location of the organization, etc. can fall under the category of “weakness”. These segments are under a company’s control but are contributing to significant losses.

Weaknesses are negative aspects which are contributing to an organization’s competitive disadvantage in a marketing campaign. An accurate understanding of negative characteristics will help an organization to improve and compete with the best in the business.

Opportunities:

What are the opportunities in the market, the ones from which an organization can prosper?

Opportunities gauge attractive elements of a market which can contribute towards more profits for an organization. These are external factors to an organization’s environment. There are always new avenues that crop up after executing marketing strategies. So, opportunities are generally the outcome of revenue/market growth, changes in market perception, a solution to difficulties faced by the market currently, the ability of an organization to add value to the market that in turn increases brand value. Associate a timeline for the identified opportunity after understanding whether it fits the current marketing strategy and also, whether the opportunity can be seized in the pre-decided timeline.

Which aspects of the market are a threat to a business?

Threats indicate those factors which may cause harm to the organization’s existing marketing strategies and also eventually lead to business losses. An organization can profit from inculcating the possibility of these risks into their marketing plans. Threats are those uncontrollable factors which will create business losses. Competitors, change in government policies, bad press coverage for products/services/events, a shift in customer behavior, change in market dynamics which might make certain products outdated and other similar angles are considered to be threats.

Learn more: Qualitative Market Research

Using this swot analysis template, you can conduct a comprehensive SWOT analysis by gathering relevant information and insights through market research methods, such as surveys, interviews, and data analysis. The swot template guides you to consider all factors that can impact your organization’s performance and competitiveness in the market.

Customize the free template based on your specific industry, market, and organization. The goal is to accurately assess your company’s strengths, weaknesses, opportunities, and threats, leading to actionable insights for strategic decision-making in your market research efforts

How to do a SWOT Analysis for a Business Plan?

There are two types of factors in a business model: internal factors and external factors. The factors which would exist irrespective of the existence of a specific organization are considered to be external and those that exist within an organization are of course, internal factors.

Implement the below mentioned 8 steps for SWOT analysis to develop a strategic plan:

1. Have a clear SWOT analysis objective:

The marketing team can discuss which topic needs immediate attention and this objective can be put to paper. This way, SWOT analysis can be conducted in an organized and effective manner. For example, if an organization intends to know whether or not to launch a new product line – this becomes the primary objective of SWOT analysis.

2. Conduct research to understand the target market:

For successful implementation of SWOT analysis, there should be a thorough understanding of what the market has to offer. Insights obtained from research about technology, customer service, competitors, etc, can be used to conduct an exhaustive SWOT analysis.

3. Identify business’s strengths:

An organization should understand what their strengths are, what are those features of their functioning which are better than the others in the market. Answers to these questions must be noted down. Workforce, location of the organization, product quality, etc. are some SWOT analysis examples of an organization’s strengths.

4. Identify the business’s weaknesses:

There are certain elements of the organization which need improvement. Marketers should create a list of these elements which they believe are harming their reputation in the market. Acknowledging these company’s weaknesses and working to eliminate them should be the intention of the SWOT analysis. This list can include aspects such as the reduction in product clients, constant downsizing of market share, lack of proper staff members et al.

5. Identify potential opportunities:

Evaluate external factors which can be lucrative for business growth. These are not internal processes and there are chances of the same factor being a threat to the business as well. While listing opportunities, one should keep in mind that opportunities should not be a threat to the business. As a swot analysis example, launching a new feature after opportunity SWOT analysis might cause damage to business in case there are competitors who offer the same feature at lower costs.

6. Identify threats to the organization:

Note down factors that are not a part of an organization’s ecosystem but are threats to business growth or personal growth. Unstable markets, the increasing competition in the market etc. are some threats to a small business.

7. Allot importance to various factors from SWOT analysis:

After completing step 3 to step 6, four different lists will be formed. The ideal way of amalgamating these lists is creating a side-by-side matrix . A matrix helps in generating a comprehensive picture for SWOT analysis.

Once the lists are put into a SWOT matrix, the degree of importance corresponding to each of the points so that marketing strategies for immediate implementation can be put into action.

Ask the following SWOT analysis questions to understand the priority:

Can the organization implement their strengths to benefit from existing opportunities?
Can the organization implement their strengths to get a grip on identified threats?
What are the steps to be taken in order to make sure the organization’s weaknesses do not hinder taking advantage of the opportunities?
What can be done to reduce weaknesses to get a grip on threats?

8. Create a strategy to solve identified problems:

After creating the SWOT matrix and answering all these questions, the marketing team can work to create marketing strategies to attain organizational aims.

Personal SWOT Analysis Examples

Strong communication skills
Analytical thinking and problem-solving abilities
Leadership and teamwork skills
Adaptability and flexibility
Excellent time management skills
Lack of experience in a specific area
Difficulty in delegating tasks
Limited technical skills in particular areas
Difficulty in managing stress and pressure
Lack of assertiveness in certain situations
Emerging markets and industries
Technological advancements in the field
Expansion or growth of existing industries
Changing demographics or consumer needs
Increasing demand for specific skills or expertise

LEARN ABOUT: Test Market Demand

Intense competition in the industry
Economic downturns or recessions
Potential job automation or outsourcing
Lack of job security or instability in the market
Limited access to resources or funding

A personal SWOT analysis provides valuable insights into one’s strengths, weaknesses, opportunities, and threats. Individuals can develop personal and professional growth strategies by leveraging strengths, addressing weaknesses, capitalizing on opportunities, and mitigating threats.

SWOT Analysis Example with Questions

In this SWOT analysis example, we will consider a fictional company, ABC Electronics, and explore the questions that can be asked in each category of the SWOT framework: Strengths, Weaknesses, Opportunities, and Threats.

Purpose: Launching a new mobile variant

What are your strongest assets?
How are your products/services better than competitors?
What is your unique selling point?
How efficient is your workforce?
What do your existing customers have to say about their experience with your organization?
Which sections of your organization need improvement?
Which aspects of your business can the competitors benefit from?
Do you lack subject matter technical expertise?
Do you think your business has made enough money?
How progressive are your competitors in terms of coping with market trends?
Which trends do you think can bring you new opportunities?
Will these trends benefit the market?
Where does the current market lack?
Are your competitors not successful in meeting customer demands?
If yes, can you target those customers?
Are there competitors in the market who can cut down your business?
What are the roadblocks you are currently facing?
Do your products/services comply with every existing law?
Do you foresee a change in government laws in the near future?
Do you believe your target audience might evolve in their product preferences?

By asking these questions and thoroughly analyzing each category of the SWOT analysis example, ABC Electronics can gain valuable insights for strategic decision-making. It is important to remember that the questions and factors considered will vary depending on the analyzed organization’s industry, market, and specific circumstances

SWOT analysis is a powerful tool that empowers organizations to assess their internal swot analysis strengths and weaknesses, as well as external opportunities and threats. SWOT analysis plays a vital role in the strategic planning process, enabling organizations to align their resources, identify areas for improvement, and capitalize on market opportunities.

However, it is essential to remember that each organization is unique, and customization of the SWOT analysis template to suit specific needs and contexts is vital. Utilizing the QuestionPro SWOT template for conducting a SWOT analysis offers organizations a powerful toolset to gather, analyze, and communicate data effectively. By leveraging these features, organizations can better understand their internal strengths and weaknesses, identify market opportunities, and mitigate potential threats. A comprehensive SWOT analysis using QuestionPro empowers organizations to make informed decisions, develop effective strategies, and drive overall success.

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Methods (SWOT Analysis)

First Online: 11 May 2018

Cite this chapter

Annoula Paschalidou 5 ,
Michael Tsatiris 5 ,
Kyriaki Kitikidou 5 &
Christina Papadopoulou 6

Part of the book series: Green Energy and Technology ((GREEN))

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Plieninger T, Bens O, Hüttl RF (2006) Perspectives of bioenergy for agriculture and rural areas. Berlin-Brandenburg Academy of Sciences and Humanities, Brandenburg University of Technology, Germany, 35(2), 125. http://www.researchgate.net/profile/Tobias_Plieninger/publication/233654571_Perspectives_of_bioenergy_for_agriculture_and_rural_areas/links/00b495210685d3ec55000000.pdf . Accessed 20 Nov 2016

Rode M (2005) Energetische Nutzung von Biomasse und der Naturschutz. Natur und Landschaft (80):403–412. http://www.nul-online.de/Archiv/Archiv/Energetische-Nutzung-von-Biomasse-Reststoffen,QUlEPTQxMDQ5MjcmTUlEPTgyMDMw.html . Accessed 22 Nov 2016

Groenendijk L (2002) SWOT analysis: strengths, weaknesses, opportunities, threats social science division/ITC/Enschede/ Netherlands. http://pgis-tk.cta.int/m05/docs/M05U04_handout_SWOT_Analysis_Groenendijk_2002.pdf . Accessed 22 Dec 2016

Rutz D, Janssen R (2012) Sweet sorghum as energy crop: a SWOT analysis. WIP Renewable Energies, Germany WIP Renewable Energies, Munich, Germany, 2012 SWEETFUEL reference number: WP6, Task 6.4, D6.5. http://www.globalbiopact.eu/images/stories/publications/swot_analysis.pdf . Accessed 26 Apr 2016

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What Is a SWOT Analysis?

SWOT analysis stands for strengths, weaknesses, opportunities and threats. This exercise helps teams develop strategic plans for innovation and investment.

A SWOT (strengths, weaknesses, opportunities, threats) analysis is a visual framework used for strategic planning across all types of businesses and organizations. SWOT analyses are made up of four components that will help you determine the output of your team’s analysis.

What Does SWOT Analysis Stand For?

Opportunities, how do i do a swot analysis.

A SWOT analysis is a qualitative assessment of a company’s SWOT components. Individuals responsible for the assessment fill out a visual template similar to the figure above, which is usually laid out in a two-by-two matrix. This template helps visualize all the SWOT elements together in their entirety.

To understand in more detail the elements of this template, let’s dive into each component individually.

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What Are the 4 Components of a SWOT Analysis?

Your strengths are organizational features that provide a competitive and strategic advantage relative to the market and competition.

Weaknesses

Your weaknesses include organizational features that are lacking relative to market competition, or that hinder the organization’s overall effectiveness to compete, grow, and strive for optimal business performance.

These are favorable market conditions or external developments that represent an opportunity for unlocking or improving the organization’s competitive positioning and business performance. Opportunities can be related to present market conditions, but can also be forward-looking.

These are unfavorable market conditions or external developments that pose a risk to the organization’s performance or the entire viability of the current market. Threats can be related to present market conditions, but can also be forward-looking. (e.g. near-term competitive threats or geopolitical risks would be good examples to feature in this bucket)

Strengths and weaknesses are factors that are owned (and thus controlled) by the organization. As a result, the organization and its team can directly influence strengths and weaknesses.
Opportunities and threats are factors that cannot be controlled by the organization. For example, a near-term innovation trend or advantageous legal ruling that may come into play are considered opportunities, whereas near-term competitive innovation or geopolitical risks fall within the threats bucket. In either instance, your organization may prepare for these events, but it cannot control them.

During the process of filling in this template, you’ll consider all four elements individually. Once you complete the template, through brainstorming sessions and workshops, you can start putting together an actionable plan to capitalize on your strengths and opportunities while countering your weaknesses and threats.

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SWOT Analysis Example

Let’s take, for example, a smartphone-producing company in the technology industry. Your example SWOT table may include the following.

Strengths :

Strong brand positioning
Loyal customer base
High barriers to entry for the competition due to recent patent filings

Weaknesses:

Recently departed CEO who led the company for the previous 15 years
Production bottlenecks in key geographical regions
Leaked PR documents

Opportunities:

Customer trends indicating a shift towards higher-end smartphones in emerging markets
Weakened competition due to a key competitor recently filing for bankruptcy
Increased regulatory scrutiny
Global chip shortage

As a result and potential plan of action, the company in question may decide to focus on mitigating the risks caused by its weaknesses (for example by increasing production in key regions close to the ones suffering bottlenecks in addition to selecting an experienced interim CEO as soon as possible) while seizing market opportunities that may not come about again (i.e. gaining market share in the short term by exploiting the competitor’s bankruptcy).

Overall, resource allocation should flow to:

Seizing market opportunities
Developing mitigation plans for market threats and investing in limiting potential damage or performance slowdowns caused by internal weaknesses

Why Use a SWOT Analysis?

The results of a SWOT analysis inform your company’s strategic plan and help you make decisions about how to allocate future resources. As a result of a SWOT analysis your team might decide on the following:

investment/divestments related to a given product line
international market entry or market expansions
changes to the company’s position relative to its competition (based on factors such as price, target customers and barriers to entry among others)
adjustments to external macroeconomic trends (raise in interest rates) or market-related dynamics (global supply chain constraints)

SWOT Analysis Advantages and Disadvantages

The SWOT analysis as a framework for strategic planning has received its fair share of critique and scrutiny. Let’s review some of the pros and cons.

SWOT Analysis Advantages

10,000-Foot View : A SWOT allows you to consider multiple factors that you might not normally associate together all at once (departing CEO and macro-trends, for example). This process can invite management to identify creative solutions to company issues that may have previously been hard to identify; having this combination of different sources of data, from internal balance-sheet metrics to market data points to press releases may enable your organization to find more comprehensive and representative patterns.
Cross-Team Collaboration : SWOT analyses create space for the representation of multiple viewpoints within the organization. The exercise invites people from different departments of the organization to contribute and collaborate across departments, thereby enriching the overall quality of the SWOT analysis and enabling better communication across company silos.
Simplicity: A SWOT is a simple framework that allows you to consider and break down complex problems that are usually considered and tackled separately but without a link to the bigger picture offered by a SWOT exercise.
Simultaneous Consideration of Internal and External Factors : A SWOT allows us to relate internal factors with external factors, which is important since these two sides are usually considered separately from one another and only more broadly considered at the executive level. For this reason, conducting a SWOT exercise at the department level allows internal teams to understand how external forces influence and relate to their day-to-day operations.

More on Group and Organizational Analyses 7 Ways to Use Mind Mapping in Your Work

SWOT Analysis Disadvantages

Groupthink and Bias: The generation of a SWOT chart is heavily influenced by the individuals tasked with the exercise. If the group isn’t diverse or made up of representatives from around the organization, the analysis will result in biased outcomes and lopsided strategies.
Short Shelf Life : A SWOT analysis is a spot exercise, which means we typically perform them as a one-off planning effort. In fast-changing markets, its results (and, thus, its overall relevance) can go out of date quickly.
Research shows a weak link between the SWOT exercise and actual strategic decision-making and organization follow-through. As a result, we’ve seen alternative frameworks emerge, most notably Porter's five forces analysis .

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SWOT analysis: Examples and templates

A SWOT analysis helps you identify strengths, weaknesses, opportunities, and threats for a specific project or your overall business plan. It’s used for strategic planning and to stay ahead of market trends. Below, we describe each part of the SWOT framework and show you how to conduct your own.

Whether you’re looking for external opportunities or internal strengths, we’ll walk you through how to perform your own SWOT analysis, with helpful examples along the way.

What is a SWOT analysis?

A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. It’s most widely used by organizations—from small businesses and non-profits to large enterprises—but a SWOT analysis can be used for personal purposes as well.

While simple, a SWOT analysis is a powerful tool for helping you identify competitive opportunities for improvement. It helps you improve your team and business while staying ahead of market trends.

What does SWOT stand for?

SWOT is an acronym that stands for:

Opportunities

When analyzed together, the SWOT framework can paint a larger picture of where you are and how to get to the next step. Let’s dive a little deeper into each of these terms and how they can help identify areas of improvement.

Strengths in SWOT refer to internal initiatives that are performing well. Examining these areas helps you understand what’s already working. You can then use the techniques that you know work—your strengths—in other areas that might need additional support, like improving your team’s efficiency .

When looking into the strengths of your organization, ask yourself the following questions:

What do we do well? Or, even better: What do we do best?

What’s unique about our organization?

What does our target audience like about our organization?

Which categories or features beat out our competitors?

Example SWOT strength:

Customer service: Our world-class customer service has an NPS score of 90 as compared to our competitors, who average an NPS score of 70.

Weaknesses in SWOT refer to internal initiatives that are underperforming. It’s a good idea to analyze your strengths before your weaknesses in order to create a baseline for success and failure. Identifying internal weaknesses provides a starting point for improving those projects.

Identify the company’s weaknesses by asking:

Which initiatives are underperforming and why?

What can be improved?

What resources could improve our performance?

How do we rank against our competitors?

Example SWOT weakness:

E-commerce visibility: Our website visibility is low because of a lack of marketing budget , leading to a decrease in mobile app transactions.

Opportunities in SWOT result from your existing strengths and weaknesses, along with any external initiatives that will put you in a stronger competitive position. These could be anything from weaknesses that you’d like to improve or areas that weren’t identified in the first two phases of your analysis.

Since there are multiple ways to come up with opportunities, it’s helpful to consider these questions before getting started:

What resources can we use to improve weaknesses?

Are there market gaps in our services?

What are our business goals for the year?

What do your competitors offer?

Example SWOT opportunities:

Marketing campaign: To improve brand visibility, we’ll run ad campaigns on YouTube, Facebook, and Instagram.

Threats in SWOT are areas with the potential to cause problems. Different from weaknesses, threats are external and ‌out of your control. This can include anything from a global pandemic to a change in the competitive landscape.

Here are a few questions to ask yourself to identify external threats:

What changes in the industry are cause for concern?

What new market trends are on the horizon?

Where are our competitors outperforming us?

Example SWOT threats:

New competitor: With a new e-commerce competitor set to launch within the next month, we could see a decline in customers.

SWOT analysis example

One of the most popular ways to create a SWOT analysis is through a SWOT matrix—a visual representation of strengths, weaknesses, opportunities, and threats. The matrix comprises four separate squares that create one larger square.

A SWOT matrix is great for collecting information and documenting the questions and decision-making process . Not only will it be handy to reference later on, but it’s also great for visualizing any patterns that arise.

Check out the SWOT matrix below for a simple example. As you can see, each of the quadrants lists out the company's strengths, weaknesses, opportunities, and threats.

[Inline illustration] SWOT analysis (Example)

When used correctly and effectively, your matrix can be a great toolkit for evaluating your organization’s strengths and weaknesses.

How to do a SWOT analysis, with examples

A SWOT analysis can be conducted in a variety of ways. Some teams like to meet and throw ideas on a whiteboard, while others prefer the structure of a SWOT matrix. However you choose to make your SWOT analysis, getting creative with your planning process allows new ideas to flow and results in more unique solutions.

There are a few ways to ensure that your SWOT analysis is thorough and done correctly. Let’s take a closer look at some tips to help you get started.

Tip 1: Consider internal factors

Often, strengths and weaknesses stem from internal processes. These tend to be easier to solve since you have more control over the outcome. When you come across internal factors, you can start implementing improvements in a couple of different ways.

Meet with department stakeholders to form a business plan around how to improve your current situation.

Research and implement new tools, such as a project management tool , that can help streamline these processes for you.

Take immediate action on anything that can be changed in 24 hours or less. If you don’t have the capacity, consider delegating these items to others with deadlines.

The way you go about solving internal factors will depend on the type of problem. If it’s more complex, you might need to use a combination of the above or a more thorough problem management process.

Tip 2: Evaluate external factors

External factors stem from processes outside of your control. This includes competitors, market trends, and anything else that’s affecting your organization from the outside in.

External factors are trickier to solve, as you can’t directly control the outcome. What you can do is pivot your own processes in a way that mitigates negative external factors.

You can work to solve these issues by:

Competing with market trends

Forecasting market trends before they happen

Improving adaptability to improve your reaction time

Track competitors using reporting tools that automatically update you as soon as changes occur

While you won’t be able to control an external environment, you can control how your organization reacts to it.

Let’s say, for instance, that you’re looking to compete with a market trend. For example, a competitor introduced a new product to the market that’s outperforming your own. While you can’t take that product away, you can work to launch an even better product or marketing campaign to mitigate any decline in sales.

Tip 3: Hold a brainstorming session

Brainstorming new and innovative ideas can help to spur creativity and inspire action. To host a high impact brainstorming session, you’ll want to:

Invite team members from various departments. That way, ideas from each part of the company are represented.

Be intentional about the number of team members you invite, since too many participants could lead to a lack of focus or participation. The sweet spot for a productive brainstorming session is around 10 teammates.

Use different brainstorming techniques that appeal to different work types.

Set a clear intention for the session.

Tip 4: Get creative

In order to generate creative ideas, you have to first invite them. That means creating fun ways to come up with opportunities. Try randomly selecting anonymous ideas, talking through obviously bad examples, or playing team building games to psych up the team.

Tip 5: Prioritize opportunities

Now, rank the opportunities. This can be done as a team or with a smaller group of leaders. Talk through each idea and rank it on a scale of one through 10. Once you’ve agreed on your top ideas based on team capabilities, competencies, and overall impact, it’s easier to implement them.

Tip 6: Take action

It’s all too easy to feel finished at this stage —but the actual work is just beginning. After your SWOT analysis, you’ll have a list of prioritized opportunities. Now is the time to turn them into strengths. Use a structured system such as a business case , project plan, or implementation plan to outline what needs to get done—and how you plan to do it.

SWOT analysis template

A SWOT analysis template is often presented in a grid format, divided into four quadrants. Each quadrant represents one of the four elements.

Use this free SWOT analysis template to jump-start your team’s strategic planning.

Identify the strengths that contribute to achieving your objectives. These are internal characteristics that give you an advantage. Some examples could be a strong brand reputation, an innovative culture, or an experienced management team.

Next, focus on weaknesses. These are internal factors that could serve as obstacles to achieving your objectives. Common examples might include a lack of financial resources, high operational costs, or outdated technology.

Move on to the opportunities. These are external conditions that could be helpful in achieving your goals. For example, you might be looking at emerging markets, increased demand, or favorable shifts in regulations.

Lastly, let's address threats. These are external conditions that could negatively impact your objectives. Examples include increased competition or potential economic downturns.

Why is a SWOT analysis important?

A SWOT analysis can help you improve processes and plan for growth. While similar to a competitive analysis , it differs because it evaluates both internal and external factors. Analyzing key areas around these opportunities and threats will equip you with the insights needed to set your team up for success.

A SWOT analysis isn’t only useful for organizations. With a personal SWOT analysis, you can examine areas of your life that could benefit from improvement, from your leadership style to your communication skills. These are the benefits of using a SWOT analysis in any scenario.

1. Identifies areas of opportunity

One of the biggest benefits of conducting an analysis is to determine opportunities for growth. It’s a great starting point for startups and teams that know they want to improve but aren’t exactly sure how to get started.

Opportunities can come from many different avenues, like external factors such as diversifying your products for competitive advantage or internal factors like improving your team’s workflow . Either way, capitalizing on opportunities is an excellent way to grow as a team.

2. Identifies areas that could be improved

Identifying weaknesses and threats during a SWOT analysis can pave the way for a better business strategy.

Ultimately, learning from your mistakes is the best way to excel. Once you find areas to streamline, you can work with team members to brainstorm an action plan . This will let you use what you already know works and build on your company’s strengths.

3. Identifies areas that could be at risk

Whether you have a risk register in place or not, it’s always crucial to identify risks before they become a cause for concern. A SWOT analysis can help you stay on top of actionable items that may play a part in your risk decision-making process.

It may be beneficial to pair your SWOT analysis with a PEST analysis, which examines external solutions such as political, economic, social, and technological factors—all of which can help you identify and plan for project risks .

When should you use a SWOT analysis?

You won’t always need an in-depth SWOT analysis. It’s most useful for large, general overviews of situations, scenarios, or your business.

A SWOT analysis is most helpful:

Before you implement a large change—including as part of a larger change management plan

When you launch a new company initiative

If you’d like to identify opportunities for growth and improvement

Any time you want a full overview of your business performance

If you need to identify business performance from different perspectives

SWOT analyses are general for a reason—so they can be applied to almost any scenario, project, or business.

SWOT analysis: Pros and cons

Although SWOT is a useful strategic planning tool for businesses and individuals alike, it does have limitations. Here’s what you can expect.

The simplicity of SWOT analysis makes it a go-to tool for many. Because it is simple, it takes the mystery out of strategic planning and lets people think critically about their situations without feeling overwhelmed.

For instance, a small bakery looking to expand its operations can use SWOT analysis to easily understand its current standing. Identifying strengths like a loyal customer base, weaknesses such as limited seating space, opportunities like a rising trend in artisanal baked goods, and threats from larger chain bakeries nearby can all be accomplished without any specialized knowledge or technical expertise.

Versatility

Its versatile nature allows SWOT analysis to be used across various domains. Whether it’s a business strategizing for the future or an individual planning their career path, SWOT analysis lends itself well.

For example, a tech start-up in the competitive Silicon Valley landscape could employ SWOT to navigate its pathway to profitability. Strengths might include a highly skilled development team; weaknesses could be a lack of brand recognition; opportunities might lie in emerging markets; and threats could include established tech giants.

Meaningful analysis

SWOT excels in identifying external factors that could impact performance. It nudges organizations to look beyond the present and anticipate potential future scenarios.

A retail company, for example, could use SWOT analysis to identify opportunities in e-commerce and threats from changing consumer behavior or new competitors entering the market. By doing so, the company can strategize on how to leverage online platforms to boost sales and counteract threats by enhancing the customer experience or adopting new technologies.

Subjectivity and bias

The subjective nature of SWOT analysis may lead to biases. It relies heavily on individual perceptions, which can sometimes overlook crucial data or misinterpret information, leading to skewed conclusions.

For example, a manufacturing company might undervalue the threat of new entrants in the market due to an overconfidence bias among the management. This subjectivity might lead to a lack of preparation for competitive pricing strategies, ultimately affecting the company's market share.

Lack of prioritization

SWOT analysis lays out issues but falls short on prioritizing them. Organizations might struggle to identify which elements deserve immediate attention and resources.

For instance, a healthcare provider identifying numerous opportunities for expansion into new services may become overwhelmed with the choices. Without a clear way to rank these opportunities, resources could be spread too thinly or given to projects that do not have as much of an impact, leading to less-than-ideal outcomes.

Static analysis

Since SWOT analysis captures a snapshot at a particular moment, it may miss the evolving nature of challenges and opportunities, possibly leading to outdated strategies. An example could be a traditional retail business that performs a SWOT analysis and decides to focus on expanding physical stores, overlooking the growing trend of e-commerce. As online shopping continues to evolve and gain popularity, the static analysis might lead to investment in areas with diminishing returns while missing out on the booming e-commerce market trend.

SWOT analysis FAQ

What are the five elements of swot analysis.

Traditionally, SWOT stands for its four main elements: strengths, weaknesses, opportunities, and threats. However, a fifth essential element often overlooked is "actionable strategies." Originally developed by Albert Humphrey, SWOT is more than just a list—it's a planning tool designed to generate actionable strategies for making informed business decisions. This fifth element serves to tie the other four together, enabling departments like human resources and marketing to turn analysis into actionable plans.

What should a SWOT analysis include?

A comprehensive SWOT analysis should focus on the internal and external factors that affect your organization. Internally, consider your strong brand and product line as your strengths, and maybe your supply chain weaknesses. Externally, you'll want to look at market share, partnerships, and new technologies that could either pose opportunities or threats. You should also account for demographics, as it helps in market targeting and segmentation.

How do you write a good SWOT analysis?

Writing an effective SWOT analysis begins with research. Start by identifying your strengths, like a strong brand, and your weaknesses, like a small human resources department. Following that, look outward to find opportunities, possibly in technological advancement, and threats, like fluctuations in market share. Many businesses find it helpful to use a free SWOT analysis template to structure this information. A good SWOT analysis doesn't just list these elements; it integrates them to provide a clear roadmap for making business decisions.

What are four examples of threats in SWOT analysis?

New technologies: Rapid technological advancement can make your product or service obsolete.

Supply chain disruptions: Whether due to natural disasters or geopolitical tensions, an unstable supply chain can seriously jeopardize your operations.

Emerging competitors: New players entering the market can erode your market share and offer alternative solutions to your customer base.

Regulatory changes: New laws or regulations can add costs and complexity to your business, affecting your competitiveness.

How do you use a SWOT analysis?

Once you've completed a SWOT analysis, use the results as a decision-making aid. It can help prioritize actions, develop strategic plans that play to your strengths, improve weaknesses, seize opportunities, and counteract threats. It’s a useful tool for setting objectives and creating a roadmap for achieving them.

Plan for growth with a SWOT analysis

A SWOT analysis can be an effective technique for identifying key strengths, weaknesses, opportunities, and threats. Understanding where you are now can be the most impactful way to determine where you want to go next.

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SWOT Analysis: How To Do One [With Template & Examples]

Published: October 05, 2023

As your business grows, you need a roadmap to help navigate the obstacles, challenges, opportunities, and projects that come your way. Enter: the SWOT analysis.

man conducting swot analysis for his business

This framework can help you develop a plan to determine your priorities, maximize opportunities, and minimize roadblocks as you scale your organization. Below, let’s go over exactly what a SWOT analysis is, a few SWOT analysis examples, and how to conduct one for your business.

When you’re done reading, you’ll have all the inspiration and tactical advice you need to tackle a SWOT analysis for your business.

What is a SWOT analysis? Importance of a SWOT Analysis How to Write a Good SWOT Analysis SWOT Analysis Examples How to Act on a SWOT Analysis

What is a SWOT analysis?

A SWOT analysis is a strategic planning technique that puts your business in perspective using the following lenses: Strengths, Weaknesses, Opportunities, and Threats. Using a SWOT analysis helps you identify ways your business can improve and maximize opportunities, while simultaneously determining negative factors that might hinder your chances of success.

While it may seem simple on the surface, a SWOT analysis allows you to make unbiased evaluations on:

Your business or brand.
Market positioning.
A new project or initiative.
A specific campaign or channel.

Practically anything that requires strategic planning, internal or external, can have the SWOT framework applied to it, helping you avoid unnecessary errors down the road from lack of insight.

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Importance of a SWOT Analysis

You’ve noticed by now that SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The framework seems simple enough that you’d be tempted to forgo using it at all, relying instead on your intuition to take these things into account.

But you shouldn’t. Doing a SWOT analysis is important. Here’s why.

SWOT gives you the chance to worry and to dream.

A SWOT analysis is an important step in your strategic process because it gives you the opportunity to explore both the potential risks and the exciting possibilities that lie ahead. You’re giving yourself the space to dream, evaluate, and worry before taking action. Your insights then turn into assets as you create the roadmap for your initiative.

For instance, when you consider the weaknesses and threats that your business may face, you can address any concerns or challenges and strategize on how to mitigate those risks. At the same time, you can identify strengths and opportunities, which can inspire innovative ideas and help you dream big. Both are equally important.

SWOT forces you to define your variables.

Instead of diving head first into planning and execution, you’re taking inventory of all your assets and roadblocks. This process will help you develop strategies that leverage your strengths and opportunities while addressing and mitigating the impact of weaknesses and threats.

As a result, you'll gain a comprehensive understanding of your current situation and create a more specific and effective roadmap. Plus, a SWOT analysis is inherently proactive. That means you'll be better equipped to make informed decisions, allocate resources effectively, and set realistic goals.

SWOT allows you to account for mitigating factors.

As you identify weaknesses and threats, you’re better able to account for them in your roadmap, improving your chances of success.

Moreover, accounting for mitigating factors allows you to allocate your resources wisely and make informed decisions that lead to sustainable growth. With a SWOT analysis as a guide, you can confidently face challenges and seize opportunities.

SWOT helps you keep a written record.

As your organization grows and changes, you’ll be able to strike things off your old SWOTs and make additions. You can look back at where you came from and look ahead at what’s to come.

In other words, SWOT analyses serve as a tangible history of your progress and provide a reference point for future decision-making. With each update, your SWOT analysis becomes a living document that guides your strategic thinking and helps you stay agile and adaptable in an ever-changing business landscape.

By maintaining this written record, you foster a culture of continuous improvement and empower your team to make data-driven decisions and stay aligned with your long-term vision.

Parts of a SWOT Analysis

Conducting a SWOT analysis will help you strategize effectively, unlock valuable insights, and make informed decisions. But what exactly does a SWOT analysis include?

Let’s explore each component: Strengths, Weaknesses, Opportunities, and Threats.

Your strengths are the unique advantages and internal capabilities that give your company a competitive edge in the market. A strong brand reputation, innovative products or services, or exceptional customer service are just a few examples. By identifying and capitalizing on your strengths, you can foster customer loyalty and build a solid foundation for growth.

No business is flawless. Weaknesses are areas where you may face challenges or fall short of your potential. It could be outdated processes, skill gaps within the team, or inadequate resources. By acknowledging these weaknesses, you can establish targeted initiatives for improvement, upskill your team, adopt new technologies, and enhance your overall operational efficiency.

Opportunities are external factors that can contribute to your company's progress. These may include emerging markets, technological advancements, changes in consumer behavior, or gaps in the market that your company can fill. By seizing these opportunities, you can expand your market reach, diversify your product offerings, forge strategic partnerships, or even venture into untapped territories.

Threats are external factors that are beyond your control and pose challenges to your business. Increased competition, economic volatility, evolving regulatory landscapes, or even changing market trends are examples of threats. By proactively assessing and addressing them, you can develop contingency plans, adjust your strategies, and minimize their impact on your operations.

In a SWOT analysis, you’ll have to take both internal and external factors into account. We’ll cover those next.

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SWOT Analysis Internal and External Factors

A SWOT analysis typically has internal (i.e., within your organization) and external (i.e., outside your organization) factors at play. Here's a breakdown of each.

Internal Factors

Internal factors refer to the characteristics and resources within your organization that directly influence its operations and performance. These factors are completely within your organization's control, so they can be modified, improved, or capitalized upon.

In a SWOT analysis, strengths and weaknesses are categorized as internal factors. Let’s look at a few examples.

Brand reputation
Unique expertise
Loyal customer base
Talented workforce
Efficient processes
Proprietary technology
Outdated technology
Inadequate resources
Poor financial health
Inefficient processes
Skill gaps within the team

External Factors

External factors are elements outside the organization's control that have an impact on its operations, market position, and success. These factors arise from the industry climate and the broader business environment. You typically have no control over external factors, but you can respond to them.

In a SWOT analysis, opportunities and threats are categorized as external factors. Let’s look at a few examples.

Emerging markets
Changing consumer trends
Technological advancements
Positive shifts in regulations
New gaps in the market you could fill
Intense competition
Economic downturns
Disruptive technologies
Changing regulations
Negative shifts in consumer behavior

Remember, a well-rounded SWOT analysis empowers you to capitalize on strengths, address weaknesses, seize opportunities, and navigate threats — all while making informed decisions for the future.

Now, let’s take a look at how you can write a good SWOT analysis for yourself or for stakeholders.

How do you write a good SWOT analysis?

There are several steps you’ll want to take when evaluating your business and conducting a strategic SWOT analysis.

1. Download HubSpot's SWOT Analysis Template.

There’s no need to start from scratch for your analysis. Instead, start by downloading a free, editable template from HubSpot. Feel free to use the model yourself, or create your own as it suits your needs.

HubSpot’s free SWOT analysis template explains how to do a SWOT analysis.

3. Identify your objective.

Before you start writing things down, you’ll need to figure out what you’re evaluating with your SWOT analysis.

Be specific about what you want to analyze. Otherwise, your SWOT analysis may end up being too broad, and you’ll get analysis paralysis as you are making your evaluations.

If you’re creating a new social media program, you’ll want to conduct an analysis to inform your content creation strategy. If you’re launching a new product, you’ll want to understand its potential positioning in the space. If you’re considering a brand redesign, you’ll want to consider existing and future brand conceptions.

All of these are examples of good reasons to conduct a SWOT analysis. By identifying your objective, you’ll be able to tailor your evaluation to get more actionable insights.

4. Identify your strengths.

“Strengths” refers to what you are currently doing well. Think about the factors that are going in your favor as well as the things you offer that your competitors just can’t beat.

For example, let’s say you want to use a SWOT analysis to evaluate your new social media strategy.

If you’re looking at a new social media program, perhaps you want to evaluate how your brand is perceived by the public. Is it easily recognizable and well-known? Even if it’s not popular with a widespread group, is it well-received by a specific audience?

Next, think about your process: Is it effective or innovative? Is there good communication between marketing and sales?

Finally, evaluate your social media message, and in particular, how it differs from the rest of the industry. I’m willing to bet you can make a lengthy list of some major strengths of your social media strategy over your competitors, so try to dive into your strengths from there.

5. Identify your weaknesses.

In contrast to your strengths, what are the roadblocks hindering you from reaching your goals? What do your competitors offer that continues to be a thorn in your side?

This section isn’t about dwelling on negative aspects. Rather, it’s critical to foresee any potential obstacles that could mitigate your success.

When identifying weaknesses, consider what areas of your business are the least profitable, where you lack certain resources, or what costs you the most time and money. Take input from employees in different departments, as they’ll likely see weaknesses you hadn’t considered.

If you’re examining a new social media strategy, you might start by asking yourself these questions: First, if I were a consumer, what would prevent me from buying this product, or engaging with this business? What would make me click away from the screen?

Second, what do I foresee as the biggest hindrance to my employees’ productivity, or their ability to get the job done efficiently? What derails their social media efforts?

6. Consider your opportunities.

This is your chance to dream big. What are some opportunities for your social media strategy you hope, but don’t necessarily expect, to reach?

For instance, maybe you’re hoping your Facebook ads will attract a new, larger demographic. Maybe you’re hoping your YouTube video gets 10,000 views and increases sales by 10%.

Whatever the case, it’s important to include potential opportunities in your SWOT analysis. Ask yourself these questions:

What technologies do I want my business to use to make it more effective?
What new target audience do I want to reach?
How can the business stand out more in the current industry?
Is there something our customers complain about that we could fix?

The opportunities category goes hand-in-hand with the weaknesses category. Once you’ve made a list of weaknesses, it should be easy to create a list of potential opportunities that could arise if you eliminate your weaknesses.

7. Contemplate your threats.

It’s likely, especially if you’re prone to worry, you already have a good list of threats in your head.

If not, gather your employees and brainstorm. Start with these questions:

What obstacles might prevent us from reaching our goals?
What’s going on in the industry, or with our competitors, that might mitigate our success?
Is there new technology out there that could conflict with our product?

Writing down your threats helps you evaluate them objectively.

For instance, maybe you list your threats in terms of least and most likely to occur and divide and conquer each. If one of your biggest threats is your competitor’s popular Instagram account, you could work with your marketing department to create content that showcases your product’s unique features.

SWOT Analysis Chart

Download a free SWOT analysis chart included in HubSpot’s free market research kit .

A SWOT analysis doesn’t have to be fancy. Our SWOT analysis chart provides a clear and structured framework for capturing and organizing your internal strengths and weaknesses, and external opportunities and threats. It's the perfect visual aid to make sense of the wealth of information gathered during your analysis.

(Plus, you can always customize and paste it into a document you plan to share with stakeholders.)

But remember: Filling out the SWOT chart is just one step in the process. Combine it with our entire market research kit , and you'll have all the tools necessary to help your organization navigate new opportunities and threats.

SWOT Analysis Examples

The template above helps get you started on your own SWOT analysis.

But, if you’re anything like me, it’s not enough to see a template. To fully understand a concept, you need to see how it plays out in the real world.

These SWOT examples are not exhaustive. However, they are a great starting point to inspire you as you do your own SWOT analysis.

Apple’s SWOT analysis

Here’s how we’d conduct a SWOT analysis on Apple.

First off, strengths. While Apple has many strengths, let’s identify the top three:

Brand recognition.
Innovative products.
Ease of use.

Apple’s brand is undeniably strong, and its business is considered the most valuable in the world . Since it’s easily recognized, Apple can produce new products and almost ensure a certain degree of success by virtue of the brand name itself.

Apple’s highly innovative products are often at the forefront of the industry. One thing that sets Apple apart from the competition is its product inter-connectivity.

For instance, an Apple user can easily sync their iPhone and iPad together. They can access all of their photos, contacts, apps, and more no matter which device they are using.

Lastly, customers enjoy how easy it is to use Apple’s products. With a sleek and simple design, each product is developed so that most people can quickly learn how to use them.

Next, let’s look at three of Apple’s weaknesses.

High prices
Closed ecosystem
Lack of experimentation

While the high prices don’t deter Apple’s middle- and upper-class customer base, they do hinder Apple’s ability to reach a lower-class demographic.

Apple also suffers from its own exclusivity. Apple controls all its services and products in-house, and while many customers become loyal brand advocates for this reason, it means all burdens fall on Apple employees.

Ultimately, Apple’s tight control over who distributes its products limits its market reach.

Lastly, Apple is held to a high standard when it comes to creating and distributing products. Apple’s brand carries a high level of prestige. That level of recognition inhibits Apple from taking risks and experimenting freely with new products that could fail.

Now, let’s take a look at opportunities for Apple.

It’s easy to recognize opportunities for improvement, once you consider Apple’s weaknesses. Here’s a list of three we came up with:

Expand distribution options.
Create new product lines.
Technological advancement.

One of Apple’s biggest weaknesses is its distribution network, which, in the name of exclusivity, remains relatively small. If Apple expanded its network and enabled third-party businesses to sell its products, it could reach more people globally, while alleviating some of the stress currently put on in-house employees.

There are also plenty of opportunities for Apple to create new products. Apple could consider creating more affordable products to reach a larger demographic, or spreading out into new industries — Apple self-driving cars, perhaps?

Finally, Apple could continue advancing its products’ technology. Apple can take existing products and refine them, ensuring each product offers as many unique features as possible.

Finally, let’s look at threats to Apple.

Believe it or not, they do exist.

Here are three of Apple’s biggest threats:

Tough competition.
International issues.

Apple isn’t the only innovative tech company out there, and it continues to face tough competition from Samsung, Google, and other major forces. In fact, Samsung sold more smartphones than Apple did in Q1 of 2022 , shipping 17 million more units than Apple and holding 24% of the market share.

Many of Apple’s weaknesses hinder Apple’s ability to compete with the tech corporations that have more freedom to experiment, or that don’t operate in a closed ecosystem.

A second threat to Apple is lawsuits. Apple has faced plenty of lawsuits, particularly between Apple and Samsung . These lawsuits interfere with Apple’s reputable image and could steer some customers to purchase elsewhere.

Finally, Apple needs to improve its reach internationally. The company isn’t number one in China and doesn’t have a very positive relationship with the Chinese government. In India, which has one of the largest consumer markets in the world, Apple’s market share is low , and the company has trouble bringing stores to India’s market.

If Apple can’t compete globally the way Samsung or Google can, it risks falling behind in the industry.

Starbucks SWOT Analysis

Now that we’ve explored the nuances involved with a SWOT analysis, let’s fill out a SWOT template using Starbucks as an example.

Here’s how we’d fill out a SWOT template if we were Starbucks:

Download this Template for Free

Restaurant Small Business SWOT Analysis

Some small business marketers may have difficulty relating to the SWOTs of big brands like Apple and Starbucks. Here’s an example of how a dine-in Thai restaurant might visualize each element.

A SWOT analysis example for a restaurant small business.

Small restaurants can lean into their culinary expertise and service skills to find opportunities for growth and brand awareness. A SWOT analysis can also help identify weaknesses that can be improved, such as menu variation and pricing.

While a restaurant might not be as worried about high-level lawsuits, a small business might be more concerned about competitors or disruptors that might enter the playing field.

Local Boutique SWOT Analysis

In another small business example, let’s take a look at a SWOT analysis for a local boutique.

A SWOT analysis example for a local boutique.

This shop might be well known in its neighborhood, but it also might take time to build an online presence or get its products in an online store.

Because of this, some of its strengths and opportunities might relate to physical factors while weaknesses and threats might relate to online situations.

How to Act on a SWOT Analysis

After conducting a SWOT analysis, you may be asking yourself: What’s next?

Putting together a SWOT analysis is only one step. Executing the findings identified by the analysis is just as important — if not more.

Put your insights into action using the following steps.

Take advantage of your strengths.

Use your strengths to pursue opportunities from your analysis.

For example, if we look at the local boutique example above, the strength of having affordable prices can be a value proposition. You can emphasize your affordable prices on social media or launch an online store.

Address your weaknesses.

Back to the boutique example, one of its weaknesses is having a poor social media presence. To mitigate this, the boutique could hire a social media consultant to improve its strategy. They may even tap into the expertise of a social-savvy employee.

Make note of the threats.

Threats are often external factors that can’t be controlled, so it’s best to monitor the threats outlined in your SWOT analysis to be aware of their impacts on your business.

When to Use a SWOT Analysis

While the examples above focus on business strategy in general, you can also use a SWOT analysis to evaluate and predict how a singular product will play out in the market.

Ultimately, a SWOT analysis can measure and tackle both big and small challenges, from deciding whether or not to launch a new product to refining your social media strategy.

Editor's note: This post was originally published in May 2018 and has been updated for comprehensiveness.

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What Is SWOT Analysis?

Understanding swot analysis, how to do a swot analysis, the bottom line.

Fundamental Analysis

SWOT Analysis: How To With Table and Example

These frameworks are essential to fundamentally analyzing companies

Ariel Courage is an experienced editor, researcher, and former fact-checker. She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street.

SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential.

A SWOT analysis is designed to facilitate a realistic, fact-based, data-driven look at the strengths and weaknesses of an organization, initiatives, or within its industry. The organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead focusing on real-life contexts. Companies should use it as a guide and not necessarily as a prescription.

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Key Takeaways

SWOT analysis is a strategic planning technique that provides assessment tools.
Identifying core strengths, weaknesses, opportunities, and threats leads to fact-based analysis, fresh perspectives, and new ideas.
A SWOT analysis pulls information internal sources (strengths of weaknesses of the specific company) as well as external forces that may have uncontrollable impacts to decisions (opportunities and threats).
SWOT analysis works best when diverse groups or voices within an organization are free to provide realistic data points rather than prescribed messaging.
Findings of a SWOT analysis are often synthesized to support a single objective or decision that a company is facing.

Investopedia / Xiaojie Liu

SWOT analysis is a technique for assessing the performance, competition, risk, and potential of a business, as well as part of a business such as a product line or division, an industry, or other entity.

Using internal and external data , the technique can guide businesses toward strategies more likely to be successful, and away from those in which they have been, or are likely to be, less successful. Independent SWOT analysts, investors, or competitors can also guide them on whether a company, product line, or industry might be strong or weak and why.

SWOT analysis was first used to analyze businesses. Now, it's often used by governments, nonprofits, and individuals, including investors and entrepreneurs. There is seemingly limitless applications to the SWOT analysis.

Components of SWOT Analysis

Investopedia / Julie Bang

Every SWOT analysis will include the following four categories. Though the elements and discoveries within these categories will vary from company to company, a SWOT analysis is not complete without each of these elements:

Strengths describe what an organization excels at and what separates it from the competition : a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on. For example, a hedge fund may have developed a proprietary trading strategy that returns market-beating results. It must then decide how to use those results to attract new investors.

Weaknesses stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive: a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital.

Opportunities

Opportunities refer to favorable external factors that could give an organization a competitive advantage. For example, if a country cuts tariffs, a car manufacturer can export its cars into a new market, increasing sales and market share .

Threats refer to factors that have the potential to harm an organization. For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. Other common threats include things like rising costs for materials, increasing competition, tight labor supply. and so on.

Analysts present a SWOT analysis as a square segmented into four quadrants, each dedicated to an element of SWOT. This visual arrangement provides a quick overview of the company’s position. Although all the points under a particular heading may not be of equal importance, they all should represent key insights into the balance of opportunities and threats, advantages and disadvantages, and so forth.

The SWOT table is often laid out with the internal factors on the top row and the external factors on the bottom row. In addition, the items on the left side of the table are more positive/favorable aspects, while the items on the right are more concerning/negative elements.

A SWOT analysis can be broken into several steps with actionable items before and after analyzing the four components. In general, a SWOT analysis will involve the following steps.

Step 1: Determine Your Objective

A SWOT analysis can be broad, though more value will likely be generated if the analysis is pointed directly at an objective. For example, the objective of a SWOT analysis may focused only on whether or not to perform a new product rollout . With an objective in mind, a company will have guidance on what they hope to achieve at the end of the process. In this example, the SWOT analysis should help determine whether or not the product should be introduced.

Step 2: Gather Resources

Every SWOT analysis will vary, and a company may need different data sets to support pulling together different SWOT analysis tables. A company should begin by understanding what information it has access to, what data limitations it faces, and how reliable its external data sources are.

In addition to data, a company should understand the right combination of personnel to have involved in the analysis. Some staff may be more connected with external forces, while various staff within the manufacturing or sales departments may have a better grasp of what is going on internally. Having a broad set of perspectives is also more likely to yield diverse, value-adding contributions.

Step 3: Compile Ideas

For each of the four components of the SWOT analysis, the group of people assigned to performing the analysis should begin listing ideas within each category. Examples of questions to ask or consider for each group are in the table below.

Internal Factors

What occurs within the company serves as a great source of information for the strengths and weaknesses categories of the SWOT analysis. Examples of internal factors include financial and human resources , tangible and intangible (brand name) assets, and operational efficiencies.

Potential questions to list internal factors are:

(Strength) What are we doing well?
(Strength) What is our strongest asset?
(Weakness) What are our detractors?
(Weakness) What are our lowest-performing product lines?

External Factors

What happens outside of the company is equally as important to the success of a company as internal factors. External influences, such as monetary policies , market changes, and access to suppliers, are categories to pull from to create a list of opportunities and weaknesses.

Potential questions to list external factors are:

(Opportunity) What trends are evident in the marketplace?
(Opportunity) What demographics are we not targeting?
(Threat) How many competitors exist, and what is their market share?
(Threat) Are there new regulations that potentially could harm our operations or products?

Companies may consider performing this step as a "white-boarding" or "sticky note" session. The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. These ideas can later be discarded; in the meantime, the goal should be to come up with as many items as possible to invoke creativity and inspiration in others.

Step 4: Refine Findings

With the list of ideas within each category, it is now time to clean-up the ideas. By refining the thoughts that everyone had, a company can focus on only the best ideas or largest risks to the company. This stage may require substantial debate among analysis participants, including bringing in upper management to help rank priorities.

Step 5: Develop the Strategy

Armed with the ranked list of strengths, weaknesses, opportunities, and threats, it is time to convert the SWOT analysis into a strategic plan. Members of the analysis team take the bulleted list of items within each category and create a synthesized plan that provides guidance on the original objective.

For example, the company debating whether to release a new product may have identified that it is the market leader for its existing product and there is the opportunity to expand to new markets. However, increased material costs, strained distribution lines, the need for additional staff, and unpredictable product demand may outweigh the strengths and opportunities. The analysis team develops the strategy to revisit the decision in six months in hopes of costs declining and market demand becoming more transparent.

Use a SWOT analysis to identify challenges affecting your business and opportunities that can enhance it. However, note that it is one of many techniques, not a prescription.

Benefits of SWOT Analysis

A SWOT analysis won't solve every major question a company has. However, there's a number of benefits to a SWOT analysis that make strategic decision-making easier.

A SWOT analysis makes complex problems more manageable. There may be an overwhelming amount of data to analyze and relevant points to consider when making a complex decision. In general, a SWOT analysis that has been prepared by paring down all ideas and ranking bullets by importance will aggregate a large, potentially overwhelming problem into a more digestible report.
A SWOT analysis requires external consider. Too often, a company may be tempted to only consider internal factors when making decisions. However, there are often items out of the company's control that may influence the outcome of a business decision. A SWOT analysis covers both the internal factors a company can manage and the external factors that may be more difficult to control.
A SWOT analysis can be applied to almost every business question. The analysis can relate to an organization, team, or individual. It can also analyze a full product line , changes to brand, geographical expansion, or an acquisition. The SWOT analysis is a versatile tool that has many applications.
A SWOT analysis leverages different data sources. A company will likely use internal information for strengths and weaknesses. The company will also need to gather external information relating to broad markets, competitors, or macroeconomic forces for opportunities and threats. Instead of relying on a single, potentially biased source, a good SWOT analysis compiles various angles.
A SWOT analysis may not be overly costly to prepare. Some SWOT reports do not need to be overly technical; therefore, many different staff members can contribute to its preparation without training or external consulting.

SWOT Analysis Example

In 2015, a Value Line SWOT analysis of The Coca-Cola Company noted strengths such as its globally famous brand name, vast distribution network, and opportunities in emerging markets. However, it also noted weaknesses and threats such as foreign currency fluctuations, growing public interest in "healthy" beverages, and competition from healthy beverage providers.

Its SWOT analysis prompted Value Line to pose some tough questions about Coca-Cola's strategy, but also to note that the company "will probably remain a top-tier beverage provider" that offered conservative investors "a reliable source of income and a bit of capital gains exposure."

Five years later, the Value Line SWOT analysis proved effective as Coca-Cola remains the 6th strongest brand in the world (as it was then). Coca-Cola's shares (traded under ticker symbol KO) have increased in value by over 60% during the five years after the analysis was completed.

To get a better picture of a SWOT analysis, consider the example of a fictitious organic smoothie company. To better understand how it competes within the smoothie market and what it can do better, it conducted a SWOT analysis. Through this analysis, it identified that its strengths were good sourcing of ingredients, personalized customer service, and a strong relationship with suppliers. Peering within its operations, it identified a few areas of weakness: little product diversification, high turnover rates, and outdated equipment.

Examining how the external environment affects its business, it identified opportunities in emerging technology, untapped demographics, and a culture shift towards healthy living. It also found threats, such as a winter freeze damaging crops, a global pandemic, and kinks in the supply chain. In conjunction with other planning techniques, the company used the SWOT analysis to leverage its strengths and external opportunities to eliminate threats and strengthen areas where it is weak.

What Is an Example of SWOT Analysis?

Home Depot conducted a SWOT analysis, creating a balanced list of its internal advantages and disadvantages and external factors threatening its market position and growth strategy. High-quality customer service, strong brand recognition, and positive relationships with suppliers were some of its notable strengths; whereas, a constricted supply chain, interdependence on the U.S. market, and a replicable business model were listed as its weaknesses.

Closely related to its weaknesses, Home Depot's threats were the presence of close rivals, available substitutes, and the condition of the U.S. market. It found from this study and other analysis that expanding its supply chain and global footprint would be key to its growth.

What Are the 4 Steps of SWOT Analysis?

The four steps of SWOT analysis comprise the acronym SWOT: strengths, weaknesses, opportunities, and threats. These four aspects can be broken into two analytical steps. First, a company assesses its internal capabilities and determines its strengths and weaknesses. Then, a company looks outward and evaluates external factors that impact its business. These external factors may create opportunities or threaten existing operations.

How Do You Write a Good SWOT Analysis?

Creating a SWOT analysis involves identifying and analyzing the strengths, weaknesses, opportunities, and threats of a company. It is recommended to first create a list of questions to answer for each element. The questions serve as a guide for completing the SWOT analysis and creating a balanced list. The SWOT framework can be constructed in list format, as free text, or, most commonly, as a 4-cell table, with quadrants dedicated to each element. Strengths and weaknesses are listed first, followed by opportunities and threats.

Why Is SWOT Analysis Used?

A SWOT analysis is used to strategically identify areas of improvement or competitive advantages for a company. In addition to analyzing thing that a company does well, SWOT analysis takes a look at more detrimental, negative elements of a business. Using this information, a company can make smarter decisions to preserve what it does well, capitalize on its strengths, mitigate risk regarding weaknesses, and plan for events that may adversely affect the company in the future.

A SWOT analysis is a great way to guide business-strategy meetings. It's powerful to have everyone in the room discuss the company's core strengths and weaknesses, define the opportunities and threats, and brainstorm ideas. Oftentimes, the SWOT analysis you envision before the session changes throughout to reflect factors you were unaware of and would never have captured if not for the group’s input.

A company can use a SWOT for overall business strategy sessions or for a specific segment such as marketing, production, or sales. This way, you can see how the overall strategy developed from the SWOT analysis will filter down to the segments below before committing to it. You can also work in reverse with a segment-specific SWOT analysis that feeds into an overall SWOT analysis.

Although a useful planning tool, SWOT has limitations. It is one of several business planning techniques to consider and should not be used alone. Also, each point listed within the categories is not prioritized the same. SWOT does not account for the differences in weight. Therefore, a deeper analysis is needed, using another planning technique.

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Future Cities

Shaping Tomorrow’s Cities

Fostering resilient and vibrant urban environments.

May 29, 2024 60 Minute Read

Chapter 1 The Shape of American Cities
Chapter 2 The Urban Renaissance
Chapter 3 Disruption in the Pandemic Era
Chapter 4 Building on Success
Chapter 5 The Conversion Potential
Chapter 6 Keys to a Thriving City
Chapter 7 A Path Forward
Chapter 8 SWOT Analysis: Los Angeles & New York
Chapter 9 Case Study: Transforming Manhattan’s Financial District: The Making of a Neighborhood
Chapter 10 Appendix: Methodology

Executive Summary

While cities have always been business and social hubs, they have undergone much evolution and oftentimes reinvention as economies advanced, technology progressed and society’s needs changed over time. American cities are much younger than those in many other parts of the world, yet would still be unrecognizable today by those who originally built them. The current evolution of American cities in response to the rise in remote working represents another waypoint in their journey.

CBRE has analyzed the real estate implications of American cities’ current evolution to help inform business and public policy choices. The study offers insights, recommendations and a case study about shaping the future of cities. We have designed a mapping tool that identifies clusters of urban characteristics across mixed-use, business and residential districts and their effect on real estate market fundamentals. This in turn offers insights about how cities can reinvent themselves.

Super Cities: Los Angeles, New York
Mixed Majors: Boston, Chicago, Philadelphia, San Francisco, Seattle, Washington, D.C.
Sprawling Darlings: Atlanta, Dallas, Denver, Houston, Phoenix
Developing Destinations: Austin, Charlotte, Miami, Nashville, Orlando, Tampa
Suburban growth that dominated the last half of the 20th century gave way to an urban renaissance beginning in the 1990s and accelerating in the 21st century. Many baby boomers and millennials moved into urban neighborhoods in search of a walkable live-work-play environment.
Office-using job growth contributed to the 21st-century urban renaissance and became ever more concentrated in CBDs, leading to a boom in office and residential construction. The downside was congestion and increased commute times for suburbanites, often compounded by a lack of modern infrastructure.
Disruption by the COVID pandemic in the early 2020s brought 30 years of urban renaissance to a halt. Many city dwellers moved to the suburbs, and domestic in-migration was fastest in the suburban areas of the Sprawling Darlings and Developing Destinations. Density became a public health concern and remote work a necessity for many office-using jobs, driving out-migration that continues today as millennials age and buy homes.
Commercial real estate has been particularly affected by these demographic shifts and new working patterns. Public safety concerns also have made workers and visitors more reluctant to return to cities, especially in the Mixed Majors. The office sector has had an unprecedented rise in vacancy that is unlikely to return to pre-pandemic levels. Higher interest rates, also a legacy of the pandemic, have exacerbated the crisis.
Future success of cities – and the role they play in their greater markets – is not guaranteed. Clearly identifying their strengths and weaknesses is required to inspire reinvention, successfully retrofit their urban cores and maintain their economic power and competitive advantage. The ultimate goal is to attract more residents, visitors, businesses and development that will drive urban vibrancy and tax revenue.
Much of this reinvention will come through conversions or demolition of older, underutilized real estate. In most cities, the amount of conversion activity underway is not yet enough to be fully transformative, but data shows that targeted conversion activity can be a catalyst for broader change.
We identified six keys that help cities to thrive: economic dynamism, demographic potential, lifestyle vibrancy, distinctive identity, responsive governance and resilient infrastructure. Each of these presents an opportunity to drive change.
Public and private stakeholders have an integral role to play in shaping American cities. By having an all-hands-on-deck approach, the collective impact of experiences and rich data will drive insights and strategies to transform our cities.

Figure 1: Population Change in Top 30 Markets – 1970-2020

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Dancing in the street: fried frank's mechanic and werner on new york city’s revival.

April 30, 2024

Fried Frank’s Jon Mechanic and Michael Werner—attorneys steeped in the in’s and out’s of New York City dealmaking—share thoughts on the office market, affordable housing, recent legislative changes and much more.

Land of Hope and Dreams: Nashville is booming. What’s next for the Music City?

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There has been a notable increase in office-conversion projects over the past six months, as urban office districts undergo a much-needed transformation.

Julie Whelan

Global Head of Occupier Thought Leadership

Phone +1 508 789 7085

John Stephens

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Andrea Cross

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Jessica Morin

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Global Chief Economist, Global Head of Research, Head of Americas Research

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Charlie Donley

Senior Research Analyst, U.S. Office Research

Phone +1 610 727 5921

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Global Client Strategist & Senior Economic Advisor, CBRE

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SWOT Analysis
How to do SWOT Analysis. You can conduct a SWOT analysis with the following four steps: Step 1: Selecting a company. If your assignment requires conducting a SWOT analysis, you are either given a case study company by your educational institution or you are free to analyze a company of your own choice.
What is a SWOT Analysis? Definition, Method, and Examples
A SWOT analysis is a method used to assess a company's internal and external environments. It involves identifying your company's strengths, weaknesses, opportunities, and threats. Its effectiveness relies on an assumption that the company can adequately assess its external environment. This assumption doesn't hold when competitors emerge ...
(PDF) SWOT ANALYSIS: A THEORETICAL REVIEW
SWOT Analysis is an analysis method used to. evaluate the 'trengths', 'weaknesses, 'opportunities' and threats' involved in an organization, a plan, a project, a person or a business ...
SWOT analysis applications: An integrative literature review
Panagiotou, 2003). After the 1960s, the SWOT analysis was used by numerous researchers and scholars of strategic planning. In the 1980s, the SWOT analysis was extensively reintroduced (Hadighi & Mahdavi, 2011; Wernerfelt, 1984). Hoskisson et al. (1999) stated that SWOT had become a dominant framework in the field of strategic management in the ...
SWOT Analysis
SWOT Analysis (short for strengths, weaknesses, opportunities, threats) is a business strategy tool to assess how an organization compares to its competition. The strategy is historically credited to Albert Humphrey in the 1960s, but this attribution remains debatable. There is no universally-accepted creator. Also known as the SWOT Matrix, it has achieved recognition as useful in ...
SWOT Analysis With SWOT Templates and Examples
Key Takeaways: SWOT stands for S trengths, W eaknesses, O pportunities, and T hreats. A "SWOT analysis" involves carefully assessing these four factors in order to make clear and effective plans. A SWOT analysis can help you to challenge risky assumptions, uncover dangerous blindspots, and reveal important new insights.
The origins of SWOT analysis
The SOFT approach is the progenitor of SWOT analysis in all its variations. ... History-informed strategy research: the promise of history and historical research methods in advancing strategy scholarship. Strat. Manag. J., 40 (2020), pp. 343-368, 10.1002/smj.3118. View in Scopus Google Scholar. Arnold, 1962.
SWOT analysis
Example of SWOT analysis for small NGO. The following example is an excerpt from Start, D. and Hovland, I. (2004) p.2: Strengths: We are able to follow-up on this research as the current small amount of work means we have plenty of time; Our lead researcher has strong reputation within the policy community
Exploring SWOT analysis
Research supports SWOT analysis as a tool for planning purposes. Over the past decade, SWOT research has focused on analyzing organizations for recommended strategic actions. As a methodology for strategic positioning, SWOT analysis has been extended beyond companies to countries and industries and is used in virtually every published business ...
SWOT Analysis
SWOT analysis is extremely flexible and can be used at any level of analysis (e.g., project, business, corporation, or industry) and in both for-profit and nonprofit settings. The method arose out of projects at the consulting firm SRI International in the 1960s that sought to improve systems for corporate planning and change (Humphrey 2005 ).
PDF A Qualitative Study into the Theoretical and Practical Side of the SWOT
Research has shown that the SWOT-analysis (SWOT: strengths, weaknesses, opportunities and threats) (32%) and scenario planning (14%) are the most frequently used methods for formulating a (new) strategic plan (Clark, 1997; Jarzabkowski & Giulietti, 2007). The methods SWOT-analysis and scenario planning share differences and similarities. For
How to use importance-performance analysis (IPA)-based SWOT analysis as
Although several studies have focused on applying Importance-Performance Analysis (IPA) as a cutting-edge quantitative methodology in many different research fields to achieve various purposes, very little research has addressed how to use IPA as a cutting-edge quantitative methodology to develop actual strategic plans in universities based on the students' satisfaction. To fill this ...
SWOT Analysis Example: Definition and Template
SWOT Analysis is defined as an acronym for Strengths, Weakness, Opportunities, and Threats which is an effective market research analysis technique. Usually, SWOT Analysis is used to evaluate an organization's performance in the market and is used for developing effective business strategies and also in situations such as initiation of a meeting. Learn about SWOT analysis, the SWOT analysis ...
Methods (SWOT Analysis)
A SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project. It involves specifying the objective of the project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective [ 1 ]. The aim of any SWOT analysis is to ...
What Is a SWOT Analysis? (Definition, How to Do One)
A SWOT analysis is a qualitative assessment of a company's SWOT components. Individuals responsible for the assessment fill out a visual template similar to the figure above, which is usually laid out in a two-by-two matrix. ... Research shows a weak link between the SWOT exercise and actual strategic decision-making and organization follow ...
SWOT Analysis: Examples and Templates [2024] • Asana
A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats for your business or even a specific project. It's most widely used by organizations—from small businesses and non-profits to large enterprises—but a SWOT analysis can be used for personal purposes as well. While simple, a SWOT analysis is a ...
SWOT Analysis: How To Do One [With Template & Examples]
1. Download HubSpot's SWOT Analysis Template. There's no need to start from scratch for your analysis. Instead, start by downloading a free, editable template from HubSpot. Feel free to use the model yourself, or create your own as it suits your needs. Download a free, editable SWOT analysis template. 2.
SWOT analysis
SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.It is sometimes called situational assessment or situational analysis. Additional acronyms using the same components include TOWS and WOTS-UP.
(PDF) Swot Methodology: A State-of-the-Art Review for the Past, A
Received 29 December 2009; accepted 05 November 2010. Abstract. The SWOT analysis is the process of exploring the internal and external envi-. ronments of an organization and extracting convenient ...
SWOT Analysis: How To With Table and Example
SWOT analysis is a process that identifies an organization's strengths, weaknesses, opportunities and threats. Specifically, SWOT is a basic, analytical framework that assesses what an entity ...
AN OVERVIEW OF SWOT ANALYSIS THEORY AS A STRATEGIC ...
A mixed methods research (quantitative-qualitative) has been used for the study carried out in two stages. In the first stage, SWOT analysis is used and in the second stage, social marketing is ...
SWOT Analysis Explained
A SWOT analysis is a framework used in a business's strategic planning to evaluate its competitive positioning in the marketplace. The analysis looks at four key characteristics that are ...
SWOT
Key Highlights. SWOT is used to help assess the internal and external factors that contribute to a company's relative advantages and disadvantages. A SWOT analysis is generally used in conjunction with other assessment frameworks, like PESTEL and Porter's 5-Forces. Findings from a SWOT analysis will help inform model assumptions for the ...
Shaping Tomorrow's Cities
CBRE has analyzed the real estate implications of American cities' current evolution to help inform business and public policy choices. The study offers insights, recommendations and a case study about shaping the future of cities. We have designed a mapping tool that identifies clusters of urban characteristics across mixed-use, business and ...

SWOT Analysis

SWOT Analysis: Theory

How to do SWOT Analysis

SWOT Analysis Example

SWOT Analysis Template

When you need to set the direction, SWOT analysis is a classic tool

What is SWOT analysis?

What are the 4 factors of a SWOT analysis?

1. Designate a leader or facilitator

2. Introduce the SWOT method to the team

3. Determine the objective

4. Brainstorm

5. Analyze the internal and external environment

6. Record all ideas and thoughts

7. Be selective

8. Create a safe environment so that everyone can contribute

1. Assess the possible strategic options

2. Prepare an action plan/strategy

3. Decide how to measure success

4. Prioritize next steps

5. Be open to change

6. Review progress, and refresh the plan

Drive growth with a SWOT analysis

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Maggie Wooll, MBA

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Figure 1. A SWOT Analysis Matrix.

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Figure 2. A Completed SWOT Analysis.

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