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SWOT Analysis

2008 Prentice Hall, Inc. All rights reserved. 31

SWOT AnalysisSWOT Analysis is a powerful technique forunderstanding your Strengths andWeaknesses, and for looking at theOpportunities and Threats you face.


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SWOTSWOT



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OverviewOverview

The strategy is to look at the organizationsThe strategy is to look at the organizations

current performance (current performance (strengthsstrengths andand

weaknessesweaknesses) and factors in the external) and factors in the externalenvironment (environment (opportunitiesopportunities andand threatsthreats) that) that

might affect the organizations future.might affect the organizations future.


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Business SWOT AnalysisBusiness SWOT Analysis

It can helpIt can help you uncover opportunitiesyou uncover opportunities that youthat youare well placed to exploit. And by understandingare well placed to exploit. And by understanding

thethe weaknessesweaknesses of your business, you canof your business, you canmanage and eliminatemanage and eliminate threatsthreats that wouldthat wouldotherwise catch you unawares.otherwise catch you unawares.



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Purpose of SWOT AnalysisPurpose of SWOT Analysis

Help decision makersHelp decision makers share and compare ideasshare and compare ideas

Bring a clearerBring a clearer common purpose andcommon purpose and

understandingunderstanding of factors for successof factors for success Organize the important factorsOrganize the important factors linked tolinked to

success and failure in the business world.success and failure in the business world.

Analyze issuesAnalyze issues that have led to failure in thethat have led to failure in thepastpast

Provide linearityProvide linearity to the decision making processto the decision making process

allowing complex ideas to be presentedallowing complex ideas to be presentedsystematically.systematically.


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Strengths:Strengths: Operational DefinitionOperational Definition

Something that we truly do well,Something that we truly do well, Something that we excel at versus theSomething that we excel at versus the

competition,competition, Something that we can build on;Something that we can build on; Something that truly differentiates our business,Something that truly differentiates our business,

ey me r c a s mprov ng, e c.ey me r c a s mprov ng, e c.


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Strengths:Strengths:

What advantages does your company have?What advantages does your company have?

What do you do better than anyone else?What do you do better than anyone else?What unique or lowestWhat unique or lowest--cost resources do you havecost resources do you have

access to?access to?

a o peop e n your mar e see as youra o peop e n your mar e see as yourstrengths?strengths?

What factors mean that you "get the sale"?What factors mean that you "get the sale"?



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Weakness:Weakness: Operational DefinitionOperational Definition AA real gap, a deficiency, a problem, or a keyreal gap, a deficiency, a problem, or a keymetric that is going south;metric that is going south;

Something were not doing very well and thatSomething were not doing very well and thatwe should be doing better;we should be doing better; Something thats dated that no longer appliesSomething thats dated that no longer applies

even oug use o;even oug use o; Something important that we reallySomething important that we reallydont know or arent sure about.dont know or arent sure about.


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Weaknesses:Weaknesses:

What could you improve?What could you improve?

What should you avoid?What should you avoid?What are people in your market likely to see asWhat are people in your market likely to see as

weaknesses?weaknesses?

a ac ors ose you sa esa ac ors ose you sa es



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Opportunity:Opportunity: Operational DefinitionOperational Definition AA favorable external conditionfavorable external condition Something (that we havent acted on or takenSomething (that we havent acted on or taken

advantage yet) that could impact us positively.advantage yet) that could impact us positively. New things that can be done to potentiallyNew things that can be done to potentiallyimprove the businessimprove the businessthat turn intothat turn into

recommen a ons an ac ons.recommen a ons an ac ons.


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Opportunities:Opportunities:

Where are the good opportunities facing you?Where are the good opportunities facing you?

What are the interesting trends you are aware of?What are the interesting trends you are aware of? Useful opportunities can come from such thingsUseful opportunities can come from such things

as:as:

Changes in technology and markets on both a broadChanges in technology and markets on both a broadand narrow scale.and narrow scale.

Changes in government policy related to your field.Changes in government policy related to your field.

Changes in social patterns, population profiles,Changes in social patterns, population profiles,lifestyle changes.lifestyle changes.

Local events.Local events.



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Threats:Threats: Operational DefinitionOperational Definition

SSomething external to the business that canomething external to the business that canpotentiallypotentiallyimpact us negatively:impact us negatively:

competitorscompetitors changing conditions in the marketplace,changing conditions in the marketplace,

the overall economy,the overall economy,

overnment re ulations, etc.overnment re ulations, etc.

Part of the playing field that cant be ignored.Part of the playing field that cant be ignored. Some internal threats, e.g. hanging onto theSome internal threats, e.g. hanging onto the

status quo when change is requiredstatus quo when change is required


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Threats:Threats:

What obstacles do you face?What obstacles do you face?

What is your competition doing that you should beWhat is your competition doing that you should beworried about?worried about?

Are the required specifications for your job, productsAre the required specifications for your job, products

Is changing technology threatening your position?Is changing technology threatening your position?

Do you have bad debt or cashDo you have bad debt or cash--flow problems?flow problems?

Could any of your weaknesses seriously threatenCould any of your weaknesses seriously threaten

your business?your business?



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SWOT TemplateSWOT Template

SWOT Analysis

Internal

Strengths Weaknesses

External

Opportunities Threats


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SWOT to StrategiesSWOT to Strategies

TurnTurn NEGATIVESNEGATIVES intointo POSITIVESPOSITIVES

OpportunitiesOpportunities StrengthsStrengths [S[S--O Strategies]O Strategies] WeaknessesWeaknesses Opportunities [SOpportunities [S--O Strategies]O Strategies]

ThreatsThreats Strengths [SStrengths [S--T Strategies]T Strategies]

ThreatsThreats Weaknesses [WWeaknesses [W--T trategies]T trategies]


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Objectives, Strategies, PoliciesObjectives, Strategies, Policies

ObjectivesObjectives Specific ResultsSpecific Results that anthat anorganization seeks to achieve in pursuing theorganization seeks to achieve in pursuing the

basic mission, usually employing SMART.basic mission, usually employing SMART. StrategiesStrategies Action PlansAction Plans to undertake into undertake inresponse to or in anticipation of theresponse to or in anticipation of the

env ronmen o accomp s e o ec ves.env ronmen o accomp s e o ec ves. PoliciesPolicies Implementing GuidelinesImplementing Guidelines to achieveto achievethe objectives and strategies.the objectives and strategies.


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Objectives, Strategies, PoliciesObjectives, Strategies, Policies

Example:Example:

ObjectiveObjective Garner 90% market share ofGarner 90% market share of

Domestic Steel Market by 2009.Domestic Steel Market by 2009. StrategyStrategy Develop new products toDevelop new products to

PolicyPolicy Hire marketing staff with localHire marketing staff with localexperience; or 10% discount on cashexperience; or 10% discount on cash

purchases for local steel fabricatorspurchases for local steel fabricators..

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