Also known as the TOWS Matrix. SWOT Analysis is an but powerful guide for analyzing a company"s Strengths and Weaknesses, and the Opportunities and Threats a company might encounter. Enables a company to focus on strengths, minimize threats, and take advantage of opportunities. SWOT Analysis can be used for a variety of assessments including: business ideas, opportunities or business plans your company (its position in the market, commercial viability, etc) your competition sales distribution methods products or brands strategic options evaluations of product portfolio evaluations of investment portfolio opportunities to make an acquisition potential partnerships changing a supplier outsourcing a service, activity or resource
Identify your strengths... Advantages of proposition? Capabilities? Competitive advantages? Unique selling points? Resources, Assets, People? Protected Assets like Patents? Experience, knowledge, data? Financial reserves, likely returns? Marketing - reach, distribution, awareness? Innovative aspects? Location and geographical? Price, value, quality? Accreditations, qualifications, certifications? Processes, systems, IT, communications?
What are the advantages of your company?
What do other companies see as your strengths?
Identify your weaknesses and how to overcome them: Disadvantages of proposition? Gaps in capabilities? Lack of competitive strength? Reputation, presence and reach? Unstable Financial performance? Unproven? Competing deadlines and pressures? Not enough resources (cash, people, etc...)? Distribution capabilities? Management cover, succession, leadership? Accreditations, etc?
Areas you should avoid?
What are some weaknesses seen by other companies?
Communication between teams
More communication around structure
Identify your opportunities: New market developments? Exploit competitors" vulnerabilities? Changes in industry or lifestyle trends? New technology development and innovation? Global influences? New markets, vertical, horizontal? Niche target markets? Geographical, export, import? Tactics - surprise, major contracts, etc? Business and product development? Leverage information and research? Leverage partnerships, agencies, distribution? Scale...volumes, production, economies? Seasonal, weather, fashion influences?
Interesting trends in your niche?
What are the best opportunities?
Identify possible threats: Politics? New or changed legislation? Environment? Competitive announcements / new offerings? Changes in market demand? New technologies, services, ideas? Key contracts and partners? Sustaining internal capabilities? Loss of key staff? Sustainable finances? Economic impact? Seasonality?
Is there any outstanding debt or large loans?
What is your competition doing?