Strength, Weakness, Opportunities, and Threats Analysis
A strength, weakness, opportunities, and threats (SWOT) analysis is a strategic technique used to identify elements of strength, weakness, opportunity, and threats. The analysis is done to make an organization aware of forces that could affect it in the future, improving decisionmaking and preparedness.
To develop strategies for business and marketing.
1. COMPOSE A TEAM to conduct the analysis. Ensure the team is multifaceted with various parts of the organization represented.
2. BRAINSTORM ISSUES that appear relevant to each of the four SWOT perspectives.
3. COMPILE THE ANALYSIS RESULTS.
4. DISCUSS and determine which issues will have the greatest influence on the organization.
5. OUTLINE STRATEGIES OR ACTIONS based on the findings.
Aids strategic decisionmaking.
Prepares an organization for the future.
Is simple.
Can uncover opportunities your organization can easily exploit.
Is important to avoid oversimplification.
Andersen B. Understanding the organization's stakeholders and strategic direction. In: O'Mara P, editor. Business process improvement toolkit. 2nd ed. Milwaukee, WI: ASQ Quality Press; 2007. p. 9-25.