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SWOT Analysis Overview
SWOT stands for strengths, weaknesses, opportunities, and threats. A SWOT analysis identifies strengths and weaknesses within the organization (or department), and outside opportunities and threats. The most important parts of a SWOT analysis specify the ideas or actions that correspond to the elements identified. By using the results of the analysis to improve the situation of the organization (or department), you can reduce the likelihood of developments that negatively impact the company.
Strengths
Strengths are internal characteristics of the organization (or department) that place it at an advantage over other organizations. For example, it has excellent customer service. When determining strengths of the organization (or department), consider these questions:
• What advantages does our organization (or department) have?
• What do we do better than anyone else?
• What do our stakeholders see as our strength?
• What resources can we access?
• What connections or networks can we take advantage of?
• What achievements are we most proud of?
Weaknesses
Weaknesses are internal characteristics that place the organization (or department) at a disadvantage. For example, why is market share decreasing. To determine the organization (or department)’s weaknesses, consider these questions:
• What could we improve?
• What should we avoid?
• What do our stakeholders see as our weaknesses?
• Where do we have fewer resources than other organization (or department)s?
Opportunities
Opportunities are external factors that the organization (or department) can take advantage of in growing and developing. Consider the questions below to think of opportunities.
• What good opportunities are available?
• What interesting trends exist?
• Is there a need that no organization (or department) is filling?
• How can the organization (or department) turn its strengths into opportunities?
Threats
Threats are elements in the environment around the organization (or department) that can cause trouble or barriers for the organization (or department). Take a look at other organizations, current events, and the changing climate for possible threats.
• What obstacles does the organization (or department) face?
• What are other organization (or department)s doing?
• Could any of the weaknesses seriously threaten the organization (or department)?
• Is the demand for the organization (or department)’s products, services, etc. changing?
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