SWOT Analysis

Analyzing Your Strenghts, Weaknesses, Opportunities and Threats

Purpose:

SWOT Analysis is a very effective way of identifying your Strenghts and Weaknesses, and of examining the Opportunities and Threats you face. Carrying out an analysis using the SWOT framework will help you to focus your activities into areas where you are strong, and where the greatest opportunity lies.

How to Apply:

To carry out a SWOT Analysis write down answers to the following questions:

Strengths

• What are you advantages?
• What do you do well?
• What do other people see as your strengths?

Consider this from your own point of view and from the people you deal with. Don't be modest. Be realistic. If you are having any difficulty with this, try writing down a list of your characteristics. Some of these will hopefully be strengths

Weaknesses

• What could you improve?
• What do you do badly?
• What should you avoid?

Again consider this from internal and external basis. Do other people seem to perceive weaknesses that you dont see? Are you competitors doing any better than you? It is best to be realistic now and face any unpleasant truths ASAP.

Opportunities

• Where are the good opportunities facing you?
• What are the interesting trends you are aware of?

Useful opportunities can come from such things:

• Changes in technology and markets on both a broad and narrow scale.
• Changes in government policy related to your field
• Changes in social patterns, population profiles, lifestyle changes etc.
• local events

Threats

• What obstacles do you faces?
• What is your competitor doing?
• Are the required specifications of your job, products or services changing?
• Is changing technology threatening your position?
• Do you have bad debt or cash flow problems?

Carrying out these analysis will often be illuminating, both in terms of pointing out what needs to be done and in putting problems into perspective.