SWOT Analysis


SWOT

 
 
 
 
Strengths
Weeknesses
Opportunities
Threats
 
 
SWOT analysis is a useful way of promoting the thinking process. Particularly in commercial situations. The first step is to define the objective.
 
Examples of Organization Objectives    Examples of Individual Objectives   

1. To increase sales revenues.                     1. To get a raise in pay. 
2. To increase market share.                       2. To get a new job.
3. To reduce costs.                                      3. To make a career change.
4. To reduce expenses.                                4. To start a new business.
5. To improve company image.                    5. To get a promotion.   
6. To market a new product.                        6. To get a transfer.
 
 
 Having defined the objective, examine it and state the object (company, product, person ...)  that is the target of the SWOT analysis. This should lead onto sellecting the best people to be involved in the SWOT analysis. With this team:
  • Define for the team the objective of the SWOT analysis and the object being focused on.
  • Brainsorm stengths, weaknesses, opportunities and threats
  • Post It Notes are  a geat way of collecting the strengths, weaknesses etc
  • If the team is finding difficult to think of strengths etc then brainstorm questions about strengths first and then brainstorm answering those questions
 
 
Having completed the SWOT brainstorming what do you do next? Translating into actions
 
First you should decide if the objective is achievable. If it is then we need to decide how to:
 
    a. Use the Strengths?    
    b. Stop the Weaknesses?    
    c. Exploit the Opportunities? 
    d. Defend against the Threats?"
 
 Having completed the SWOT analyis and decided on the actions to take it is important to also test, measure and refine the analysis.