Anyone who runs a business or any sort of organization should have considerable expertise in SWOT analysis. SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. Before you start making your business plans or forge strategies for the future of the business, it is important to identify the strength, weakness, opportunity and threats for your business. Before you begin the SWOT analysis, you would need a SWOT analysis sample.
In this post, we shall discuss some of the most popular and effective SWOT analysis Samples, and delineate how to use them. On SWOT Analysis Before we begin a complete discussion on the SWOT analysis samples, we should expand a little on the meaning of SWOT Analysis. SWOT analysis has 4 factors to take care of.
Strength : Strength is an internal parameter for your brand. Before you start the planning, it seems obvious to note down the areas in which your company or organization is best at. It should be understood that the assessment of the strength need not span the whole of the business. Instead, it may simply be the most important part of the business.
Weakness : Weaknesses exist in every business. It is better to identify these and act upon them rather than ignoring and facing the consequences later. Since Weakness is a relative term, you would notice in almost all of the SWOT analysis sample, this is listed as an external factor and is contingent on your rivals.
Opportunity: In this part of the SWOT analysis sample you need to focus on finding the opportunities that lurk in your company. These may be in the form of consumer sectors which you haven’t tapped into or maybe products which haven’t been marketed well.Each SWOT analysis sample has a very specific attention towards this.
Threat : Here , you need find finds sources of threats . This can come from your direct and indirect competitors . You must must be ready to face competitive threats from suppliers and buyers ( forward and backward integration ) .For online business threat may come from offshore companies working you niche .
Finding SWOT Analysis Samples :
The easiest way to start the SWOT analysis is to go start with a SWOT template. It is usually helpful if one starts with a well-defined template for the SWOT analysis of one’s project.Creatly is a great place to find SWOT analysis Sample, so it the Gliffy and Business Tune-Ups. Practicing on the SWOT analysis templates from these can make you fluent in handling problems.
Doing the SWOT Analysis
The exact steps of SWOT analysis would obviously differ depending on the problems at hand. However, there are some general steps which can be followed in SWOT analysis. Here are some of the steps which can be found across all the SWOT analysis samples
- Establishing Objectives– Having a clear plan as to what to do in the SWOT analysis before starting the whole exercise is a really healthy exercise. It saves a lot of time and will you identify the best SWOT analysis sample.
- Research Well : Do a detailed research on a set of potentials competitors . You can do secondary research , use some survey and online competition research tool for gathering competition information.
- Choose a SWOT analysis which closely meets your needs.
SWOT analysis is undoubtedly a very effective tool for problem solving. What is important is that you get hold on a SWOT analysis tool which will address your needs with perfection. Doing an in-depth research in each of the spheres of the SWOT analysis can be both difficult and rewarding. Apart from using a standard SWOT analysis sample you can start working on a template for your business specifically. In a way, these sorts of customized SWOT analysis samples are more effective than the off-the-shelf templates.