SWOT Analysis
Finding Strengths, Weaknesses, Opportunities & Threats
Explained
A SWOT analysis is a strategic planning tool used to identify your organization's Strengths, Weaknesses, Opportunities, and Threats.
It helps your organization gain insights into their internal and external environments, enabling them to leverage strengths, address weaknesses, capitalize on opportunities, and mitigate potential threats.
A SWOT analysis helps facilitate informed decision-making and strategic planning. Once you’ve completed a SWOT Analysis:
Analyze and Prioritize:
- Complete the matrix as a whole.
- How can you use your strengths to capitalize on opportunities and counteract threats?
- How can you address your weaknesses?
- Determine which factors are most critical and should be addressed first.
Develop Action Plans to:
- Leverage strengths
- Improve weaknesses
- Exploit opportunities
- Mitigate threats
Review Regularly
SWOT analysis should be a living document. Review and update it regularly to ensure it reflects the current situation.
SWOT Analysis Worksheet:
- What do we do well?
- What unique resources do we have?
- What advantages do we have over others?
- Where can we improve?
- What resources do we lack?
- What are others doing better at than us?
- What trends can we take advantage of?
- Are there any changes that can benefit us?
- What external resources can we leverage?
- What obstacles do we have?
- Are there any changes or things that could harm us?
- What are our competitors doing that could be a threat to us?